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SALT LAKE CITY -- The CEO of Coca-Cola issued a scathing assessment of American business practices.
In an interview with Financial Times, Muhtar Kent said China is more competitive than the U.S.
He said when a country faces economic trouble, a polarized political process like that of the United States is not beneficial. He blames the country's slow economic recovery on politicians in Washington and the country's complicated tax code.
"I believe the U.S. owes itself to create a 21st century tax system that doesn't have thousands of exceptions," he said.
Kent made these statements at the same time he announced Coke is expanding in other countries, with a $3 billion investment in Russian and a $4 billion investment in China.
He compared China's business operations to a "well-managed company."
Fidelity.com reports Coca-Cola gets about 41% of its annual sales and 19% of operating income from the U.S.
E-mail: rjeppesen@ksl.com
