Foreign Food Brands Seek a Local Flavor in China
Restaurant chains were among the first foreign companies to enter China when the country opened up in the late 1970s. These days, however, their Chinese businesses have more often become a liability.
“China is a very tough market with very low pricing and enormous deflationary pressures. You have to wake up every morning in China with the assumption that your competitors are out to get you.”
– Joel Silverstein , founder of the consultancy Canyon Springs Advisors
