It’s easy to be convinced that China should be the Utopia of the turnaround sector. Overcapacity, inefficient capital allocation, imitation of enterprises leading to gluts of products – a prime recent example the curious issue of shared bicycles. On my morning walk, I can count up to 600 new bikes available for a rental population estimated at no more than 150 people. Multiply this across Beijing and you see huge market inefficiencies.
Yet, for turnaround executives Chinese culture defines constraints and limitations.
Click here to read the IFT's Swift October 2017 article by Bob Fonow, Managing Director of RGI Ltd., a turnaround firm based in Beijing and Northern Virginia, and a founding director of the Asia Transformation and Turnaround Association (ATTA).
