Advising American CEOs on China risks
Just a few years ago, it would have been inconceivable that a Chinese company would disrupt the automotive industry by exporting vast quantities of cheap, reliable electric vehicles. But the Chinese company BYD has overtaken Tesla in terms of overall sales and it is determined to win market share from long-established car giants, such as Volkswagen and Toyota. Does BYD's success result from generous government subsidies? Or, as its bosses claim, it is just better at taking risks than its riva...