very general in offering these lessons, Yadong Luo explicates the issues concretely, comparatively, and thoroughly. He articulates how MNEs should properly deal with local governments in a cooperative and at the same time bargaining manner. How to balance business ethics (e.g., anti-bribery) with business culture (personal networking), and how to reduce the liabilities of foreignness in both defensive and offensive ways. The book further details how MNEs should enter an emerging market, with whom they should partner, and why they should integrate emerging market operations with other global activities. Luo updates changes of government policies on foreign investment, explains commonalities and distinctions among emerging markets, and addresses how to assess country competitiveness and industrial conditions. As a former practitioner dealing with emerging markets and as a current scholar on international strategy, Luo provides a unique combinatory view of emerging markets.