Indeed these business are quite successful (especially KFC and McDonalds) but I believe they're mostly joint ventures which in itself has a whole bunch of pitfa

Indeed these business are quite successful (especially KFC and McDonalds) but I believe they're mostly joint ventures which in itself has a whole bunch of pitfalls. More importantly they're in an exceptional business segment (that of selling western fast food) which local Chinese companies are unable to play almost by definition. I suppose Intel is another example, but that's really only due to the fact that it's also not practical to have a local competitor to it. They would if they could. I'm sure you could find other companies where there's an exception, so my statements and that of the OP's article should only be taken as generalities. But I believe they're true much more often than not.