Companies / China
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Is Wahaha Fury Indicative of FDI Backlash?
April 2007 | Company News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Chinese beverage manufacturer Wahaha has launched a scathing attack on its majority parent, French dairy major Danone. The French firm, which now controls 51% of Wahaha having entered into a series of joint ventures with the company back in 1996, stands accused of setting unfair controls on elements of Wahaha's business which fall beyond the joint venture agreement. However, Wahaha founder Zong Qinghou did not end his criticism there and extended his attack beyond Danone to all foreign companies that he perceives as exercising too significant a degree of control over Chinese enterprises.