Why Chinese competition, not geopolitics, is the biggest challenge for foreign firms (opens in new tab)

The main risk for foreign businesses entering China is not geopolitics but fierce competition in the domestic market, an analyst said at the World Economic Forum’s Summer Davos. Speaking on a panel in Dalian on Thursday, Joe Ngai, chairman of Greater China at McKinsey & Company, said securing access to the Chinese market was still a concern yet the real test lay in competing with local rivals. “These guys are hungry ... they can beat everyone up, and you come in here, and the question is: wha...