Starbucks to Audi Face China Clampdown on Foreign Firms - Bloomberg: "This month, after China’s ruling Communist Party promised to make markets “decisive” in shaping the world’s second-largest economy, carmakers Jaguar Land Rover Automotive Plc, Fuji Heavy Industries Ltd. (7270)’s Subaru division and Audi AG became the latest targets when state media accused them of charging “unfair” prices for spare parts.
The automakers joined foreign companies from Starbucks Corp. (SBUX) to Burberry Group Plc (BRBY), Qualcomm Inc. (QCOM) and Apple Inc. (AAPL) in the roll of those with deepening challenges in China even as the year-old leadership team headed by President Xi Jinping seeks to elevate the private sector. Rising scrutiny of overseas firms by regulators and state media follows a jump in labor costs that may diminish the lure of investing in the $8.2 trillion economy."
'via Blog this'
Monday, December 23, 2013
Political posturing, or holding the no-national firms accountable?
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