China's Second Continent

If you have your equipment and your people in place and there is no business, that is very bad. If you bid low, though, even if you have a tiny margin, you are better off. That’s the reason Chinese companies bid low. It’s not because we want more market share. The number of companies and people working in this sector [in China] is very large. We need more and more markets to keep people employed. Most of the companies like mine are state-owned, and if you start laying off workers, it will create huge problems for the country.”