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American entrepreneurs hoping to do business in China may be in for a surprise.
The nation of 1.4 billion people is a lot more capitalistic than novice investors might think, said Tom Pellman, a market analyst who has lived in China and studied its economy for eight years. Pellman, an Indiana University graduate who works for an alternative energy company in Beijing, brought that message to two-dozen Columbus Area Chamber of Commerce members at a luncheon Tuesday.
In the past decade, China has begun a rapid shift from a top-down, government-controlled economy to one with a lot more competition and a greater openness to foreign investment, Pellman said. This shift is likely to gain even more momentum under China's new president, Xi Jinping, who is in the early stages of a 10-year term as leader.
Read more details in Wednesday's Republic.
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