BUSINESS

Why China Won't Buy American

01/27/2012 02:46 pm 14:46:36 | Updated Mar 28, 2012

The first time I visited China, in 2005, an American businessman living there told me that the country was so huge and was changing so fast that everything you heard about it was true, and so was the opposite. That still seems to be the case. China is the fastest-growing consumer market in the world, and American companies have made billions there. At the same time, Chinese consumers aren't spending nearly as much as American companies had hoped. China has simultaneously become the greatest boon and the biggest disappointment.

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