An increasing number of foreign businesses are folding their tents in China. Multinationals used to be desperate to get into the People’s Republic. Now, as easy growth vanishes, leaving China is becoming less unusual. While some have kept a foot in the door, others have made a show of slamming it.
The latest public departure is Actavis. The generic drug maker recently declared that it had sold one operation in China and was in talks to sell another. Chief executive officer Paul Bisaro told Bloomberg the country was “too risky” and “not a business-friendly environment.”