Terry Petty and his Chinese representatives thought the terms were ridiculous. An American investor, Petty had forged a venture with the son of a local Communist Party official to open a machine shop here in the industrial outskirts of China’s most cosmopolitan city. But after two years of internal disputes, the venture had disintegrated. The local man was urging Petty’s people to sign a contract selling him their stake and surrendering full control. They would not go along. Full Story