Quitting China is all about knowing how to go
Published on Jan 20, 2014 10:17 AM
HONG KONG (REUTERS) - An increasing number of foreign businesses are folding their tents in China.
Multinationals used to be desperate to get into the People's Republic. Now, as easy growth vanishes, leaving China is becoming less unusual. While some have kept a foot in the door, others have made a show of slamming it.
The latest public departure is Actavis. The generic drugmaker recently declared that it had sold one operation in China and was in talks to sell another. Chief Executive Paul Bisaro told Bloomberg the country was "too risky" and "not a business-friendly environment".
For any company with global ambitions, China is hard to ignore. It is the world's largest market for groceries, smartphones and cars, and may buy 14 per cent of the world's products by 2015, according to an American Chamber of Commerce report.
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