1. No innovation or research spirit, short sighted business practices: Businesses copying, counterfeiting, imitating, short-cutting almost on everything to minimize costs and make quick bucks.
2. Government manipulation of market. Manipulation on currency, giving improper subsidy to preferred Chinese businesses, banning and blocking foreign competitors on internet, putting high tarrif on imported goods.
3. Unproductive business practices. Excessive overtime work, unrealistic fast paced deadlines setting, Culture Revolution-like back stabbing, power struggling company culture.
4. Corruption on all levels. Bribery, heavily depending on “Guang Xi”(connections) for everything, going back-doors, taking under-tables.
5. Brain drain and money drain. Large numbers of intelligent, affluent and wealthy people emigrated with their money, knowledge and skills.