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Article: Doing business in China: it's far from easy.
- Article from:
- USA TODAY
- Article date:
- January 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 Society for the Advancement of Education. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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China is a land of 1,000,000,000-plus potential consumers, a thought that increasingly is tantalizing the imagination of CEOs across America. Yet, there are many horror stories of people who have lost their shirts (and more) in China. A Dec. 10. 1993, article in The Wall Street Journal summarized the phenomenon succinctly:
"China's economic transformation, born in a shift to free markets in 1978, is rapidly coming of age - and it has mouths watering throughout the business world.
"It also has stomachs churning. For while some foreigners may be making hay in China, the roll call of dead and dying enterprises there is also tellingly long. China is no sure bet."