CHINA

Most Joint Ventures Profitable, Survey Finds: More than 64% of joint ventures involving multinational companies in China were profitable in the last fiscal year, although they weren’t exactly raking in the money, according to a survey by Andersen Consulting and the Economist Intelligence Unit. The survey found that margins were lower in China than the average developing market for 51% of the profitable companies. During the early 1980s, many foreign companies rushed into China, lured by the potential of 1.2 billion customers and cheap labor. The honeymoon ended quickly--numerous ventures folding because of bickering between partners, mounting losses and unsuitable product lines.