PUBLISHED : Monday, 07 April, 2014
Edward Tse says business models that worked elsewhere won’t do well in complex local economy
Home Depot failed to make headway in China due to a lack of DIY culture in China. Photo: Reuters
A cover story earlier this year in The Economist featured the headline “China loses its allure”. The key point was that, although in the past 30 years a large number of multinational companies have gone to mainland China to invest, this gold rush is now over, even though opportunities remain.