China | Economic transition has created a vacuum: Capital Link's McGonegal
Capital Link International CEO Brett McGonegal says Beijing's shift from government-run businesses to new economy models has impacted entrepreneurship. Photo: CNBC screen grab
Capital Link International CEO Brett McGonegal says Beijing's shift from government-run businesses to new economy models has impacted entrepreneurship. Photo: CNBC screen grab

Economic transition has created a vacuum: Capital Link’s McGonegal

Beijing's shift from government-run businesses to new economy models has impacted entrepreneurship, says Capital Link International CEO Brett McGonegal

April 18, 2017 7:35 PM (UTC+8)

Beijing’s shift from government-run businesses to new economy models has impacted entrepreneurship, says Capital Link International CEO Brett McGonegal.

“There’s been a huge amount of effort focused on this transition to China 2.0 – from the old smokestack export economy to the new virtual, internet-based consumer demand,” said McGonegal on CNBC’s Squawk Box. “That whole system change, in essence, has created a vacuum for the old way of doing business.”

McGonegal, who is also a principal investor in Asia Times, says that as China changes to a new entrepreneurial model the entrepreneurs figure out a way to make the time element work in their favor.

“Now it’s morphing into a kind of more personal, global business that’s driven by technology,” he said.

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