Imagine a boxing ring with no rules. Fighters keep swinging until only the strongest remain. That is China's business environment today. Market share is the primary scorecard, returns can wait. And unlike most rings, the government is in your corner - offering long-term direction, cheap land, expedited approvals and loans that often function like equity. If interest is paid, principal repayment can be deferred indefinitely.
China has made a deliberate shift from being supplier of low-cost, low-quality goods to the world to one that is low-cost, high-quality and high-speed. How did this happen?
