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Complete video at: Doug Guthrie, dean of The George Washington University School of Business, argues that decentralization is key to China's economic reform. "The core feature of capitalism is not private property, the core feature of capitalism is competition," says Guthrie. He explains how decentralization has stirred economic competition within China. ----- Summary Module 1: Perspectives on Disruption: China's Emergent Luxury Market DOUG GUTHRIE | Dean, The George Washington University School of Business "Opportunity in Perspective: Approaching China" An expert in the fields of management, economic reform in China leadership, and corporate governance, Doug is the Dean of The George Washington University School of Business. Previously, he served as Professor of Management at NYU Stern School of Business. He also held a joint appointment as Professor of Sociology at NYU's College of Arts and Sciences. Doug has been a trusted adviser of both multinationals and local Chinese companies and a student of China for some 25 years. He is the author of Dragon in a Three-Piece Suit: The Emergence of Capitalism in China, China and Globalization: The Social, Economic and Political Transformation of Chinese Society, and Social Connections in China: Institutions, Culture, and the Changing Nature of Guanxi. He is currently writing China's Radical Transformation: Economic Reform, Global Integration, and Political Change in the World's Largest Nation, which is an in-depth look at ...