Senior USMB Moderator
Gold Supporting Member
- Nov 17, 2009
- Reaction score
- Las Vegas, Nevada
Coca-Cola now sees the US becoming a less friendly business environment than China, its chief executive has revealed, citing political gridlock and an antiquated tax structure as reasons its home market has become less competitive.
Muhtar Kent, Coke’s chief executive, said “in many respects” it was easier doing business in China, comparing the country with a well-managed company. “You have a one-stop shop in terms of the Chinese foreign investment agency and local governments are fighting for investment with each other,” he told the Financial Times.
Mr Kent also pointed to Brazil as an example of an emerging economy that is making itself attractive to investment in ways that the US once did.
“They’re learning very fast, these countries,” he said. “In the west, we’re forgetting what really worked 20 years ago. In China and other markets around the world, you see the kind of attention to detail about how business works and how business creates employment.”
Coke chief criticises US tax rules - FT.com
Gee, you think? Many people have been warning about this for some time now. While nations like China are moving towards our traditional Capitalist policies, we're moving in the opposite direction towards China's centrally planned and failing economy.
However, Mr Kent said that US tax burdens and political polarisation were creating uncertainty for businesses and hurting investment.
“I believe the US owes itself to create a 21st century tax policy for individuals as well as businesses,” he said.
Haha! Yeah, good luck with that! All those clowns in Washington know how to do is fuck it up even more.