TAIPEI (TVBS News) — In an exclusive interview with TVBS commentator Wenchi Yu, former American business executive Mark Atkeson shared insights from his 30 years of experience in China. He discussed his observations on the Chinese industry and the misconceptions about its economy in his new book, "Risky Business in Rising China."
Atkeson debunked the notion of China as a solely state-owned economy, noting the significant growth of its private sector. "Over the last three decades, China's private sector grew to account for more than 60% of GDP and over 80% of urban employment," he said.
He described Chinese entrepreneurs as eager to forge partnerships with foreign businesses, countering concerns about Chinese-made electric vehicles (EVs) entering global markets. The U.S. has criticized these for being unfair trade practices, allegedly supported by the government.
Atkeson acknowledged a hybrid nature in the Chinese EV industry, which remains predominantly privately owned despite concerns of government support. He also highlighted the industry's overcapacity, affecting both electric and internal combustion engine vehicles.
"Many firms are losing money, yet local governments often support them," Atkeson remarked, discussing the EV sector's challenges. He advocated for reduced government control over businesses, arguing that excessive interference leads to corruption and market distortions.
Concluding, Atkeson emphasized the need for the Chinese government to allow more freedom for entrepreneurs. "Suppressing business leaders hampers economic growth," he stated. "The government should get out of the way of Chinese entrepreneurs."
