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February 16, 2011

Chinese treat Private Equity like Rock Stars

Watch for China to become the world's center of private equity within five to 10 years, according to David Rubenstein, co-founder of The Carlyle Group. 
Paving the way for this top ranking are strong economic growth, myriad opportunities, little competition and a mostly laissez-faire attitude towards business. The Chinese respect capitalism's power to create a good economy.
David says, "When I'm in Washington, D.C., people are barraging me, saying that I'm not paying enough taxes.... In China, people want my autograph ... private-equity professionals are like rock stars."
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