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Phil Stephenson, the director of China for Bundy Asia Pacific (BAP), was preoccupied with Bundy''s business in China. BAP''s CEO, Tony Martin, had shown Phil the fax from Robin Thompson, the new marketing and product development director of Bundy International, BAP''s UK-based parent company. Thompson had asked BAP about its strategy for the refrigeration business in China. Despite 10 years of experience in China, Bundy had not met its market goals. Whatever strategy was developed, it would be an important part of Bundy''s proposed global refrigeration strategy. This rich case allows detailed discussion around issues including: (a) business (re)development strategy; (b) joint ventures versus wholly owned subsidiaries; (c) organizational structure; and (d) expatriate and local staffing. There is a Korean version available ''9A98MK03''.