I worked in Vietnam and the company was making a profit.
There are hush hush payments and corruption etc. The govnuts at all levels need little fees and payments....... but as far as I can see making a profit in China is not allowed. It is in Vietnam.
People are excellent to foreigners. They want to do business with Aussies because we are to be trusted.
It would probably be hard to make a profit in commodity style products as the locals know how to do things cheap and you don't