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Wednesday, September 21, 2011

Matthew Perrin's cautionary Chinese tale: Maley

Matthew Perrin's cautionary Chinese tale: Maley - Smart Company

Wow, the former owner of Billabong declared bankruptcy after investing in China.

I wish there was more details in the article.  Basically Mr. Perrin seemed to have no understanding of how business really works in China, and lost everything because of it. This is telling:

On one occasion, Global Mart finally completed the purchase of a supermarket chain, only to discover that the vendor had secretly sold the business to another consortium.

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