Why have the authors decided to publish Global Credit Management
There are two major reasons:
Chinese firms are currently suffering badly from a credit
management crisis, not only in
international trade, but
also in domestic transactions. In
2004 Chinese firms accumulated bad debt up to
a value of US$100 billion, which is about 20% of the
estimated total trade profit. Moreover the bad debt total is
growing by an additional $15 billion per annum. The crisis is
equally severe in domestic transactions. The average delay in payment is
90 days; while it is 7 days in the USA. The average bad debt rate
in Chinese firms is 5% to 10%; while it is 0.25% to 0.5% of sales
revenue in the US.
Finding a way to train and educate Chinese firms to manage credit
is extremely important for
the health of the Chinese
The most important strength of this book is that it has been written
from a practitioner’s perspective.
covers almost all aspects
of the complete practical process of credit management.
It starts from the
strategic height of credit
management, systematically presents how to manage customer risk, country
risk, and goes on to
explain the actual credit management tools and their respective
It reads very clearly and the style is refreshing.
It provides a useful guide for professional
managers new in the field,
and is an inspirational book for those really experienced.
learn about international practices and
standards in credit management, and improve their competitiveness.
I would like to recommend this book to numerous readers in
China. I hope you all enjoy and benefit from this book.
I believe this book will be extremely useful and helpful for Chinese
firms and managers as they strive to