Katsuji Nakazawa is a Tokyo-based senior staff and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

Chinese President Xi Jinping has failed to understand the market principle that legendary entrepreneur Zong Qinghou wielded while building a fortune. (Nikkei montage/Source photos by Kyodo, Getty Images, and Yusuke Hinata)
Xi might be better off taking a cue from the legendary founder of Wahaha