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For any businessman intending to do business in another country, it is very important to pay attention to cultural differences and to pay consideration to them during his dealings. It is absolutely essential in order to cut down on transaction costs where one partner says one thing, and the other understands something quite different. The future of the international economy depends on the curbing of such costs.

Modern research shows that the lion’s share of resources is often spent on inefficient interpersonal communications. Judge for yourself: instead of carrying out five minutes of negotiations, the businessman is forced to spend fifty-five minutes, or even five whole days. For whatever reason, one partner says one thing, and the other construes it quite differently. Then one of them thinks: well, if it’s been said, then that means it is set in writing, and he passes it further along the chain. Yet for the other person, there was no reason to pass it along the chain, and no reason to commit to it even. He sees things completely differently.

Without a doubt, there are different psychologies in various regions of the world. But I think that in the arena of modern international business these discrepancies in psychology are gradually being erased. Businessmen are compelled to communicate with one other, to understand one another. Whether you like it or not, you have to speak the same language.

Life forces everyone to switch to the same forms of communication, especially now, after the global crisis. We have to rebuild the economy on more transparent foundations so as not to repeat the mistakes which took place. The businessmen who are the most open to new forms of communication and relationships of mutual understanding are the ones who will be the most successful.