ASIABIZBLOG

Danone is now sadly forced to wash its dirty linen in public:

"After a long investigation, Danone officials concluded that their closest partner in China, Wahaha’s longtime chairman, Zong Qinghou, was operating a series of secret companies outside the joint venture — companies that were mimicking the joint venture and siphoning off millions of dollars."

This has happened numerous times in the past -- the most famous case being the American paper company which set up a joint venture factory in the early 1990s, only to find that its partner had set up a factory across the street in competition with it, making use of the machinery, workers and expertise the American company injected into the venture.

Who says history doesn't repeat itself?