Chinese Competition? You Ain’t Seen Nothing Yet

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What’s the biggest economic risk from China? A GDP growth crash? A bond price meltdown? Low-cost knock-off competition? Copyright theft and counterfeiting? Actually it is quite likely that the answer is none of the above. The biggest risk from China is competition, but not the sort of cheap-and-cheerful competition that Western companies have grown used to. It’s something much more scary than that.

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