From AFX via Forbes.com (link)
A growing mood of ‘economic patriotism’ in China is challenging international companies looking to acquire local businesses and establish a presence here, state media reported.
The sentiment is founded on concerns that foreign companies are creating monopolies in a number of sectors by acquiring promising local firms, the China Daily said, citing Li Deshui, the former commissioner of the National Bureau of Statistics.
‘If China lets multinationals’ malicious mergers and acquisitions go ahead freely, China can only act as labour in the global supply chain,’ the newspaper quoted Li as saying.
