I think that anyone who is bilingual is a "shoe in" in the business community. There are more chances to network when you can communicate in different languages. The biggest problem though, is when cultural differences are misinterpreted.
If you are willing to invest time in learning another language, my advice is to visit the mother country for a while before you call yourself bilingual, so you can understand the cultural component of language.
Remember: There are different implied meanings in different languages. Calling someone "hot" in english is a complement, but calling someone hot (ie chaud) in french, is a true insult.
Work your bilingualism to your advantage by understanding both languages to their core and paying attention to the message you send and how the reciever is most likely to interpret it.
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