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New Silk Road initiative brings both chance and challenge: expert

Xinhua, April 28, 2015 Adjust font size:

Renowned American professor Rita McGrath said here Monday that the road and belt initiative by China will form new global alliances and it will lead to fierce competition among U.S. firms to expand their market radius in Asia.

Speaking at the two-day strategy leaders' forum organized by research and education firm Informa Middle East McGrath from Columbia Business School in New York said that the New Silk Road has the potential to break up old competitive advantages of some companies.

Asked on the impact on United States blue chip firms and small and medium enterprises, McGrath said she expects rather more alliances and partnerships between U. S. firms and upcoming enterprises which are able to bridge Asian countries along the New Silk Road.

"American companies already compete pretty effectively globally. I think we will see a lot of alliances and partnerships. I expect we probably will see some technology firms partnering," said McGrath.

"What you see now are new alliances coming up. And countries which never had the economic heft to compete globally will be able to do so, I think China is playing a big facility there," she noted.

The author of several best-selling books on management and product and service innovation added that the smart companies in the U. S. will take the New Silk Road rather as a chance and not challenge and will cope better with things that change in order to explore new markets. Endit