The Chinese economy keeps an astonishing record of growth and stability as it adapts to the global economy, said a leading US scholar.

"I am very optimistic about China's economic growth, " said Robert F. Bruner, Dean of the Darden School of Business, University of Virginia, when sharing his observations of the Chinese economy during an interview with Xinhua on the eve of his visit to China.

Bruner said, in his opinion, China's marvelous economic record comes from "a culture with values of high work ethnic, entrepreneurship and education."

Meanwhile, as "China aspires to a place in global economy as one of the dominant countries," he said, it needs to make certain kinds of internal changes, including enhancing laws and regulations, introducing more transparency in transactions, providing better protection for investors, and imposing stricter copyright rules.

"I am very optimistic and I think China's marvelous record suggests to me that it will adopt in a most positive way," said Bruner.

As one of the world's leading experts on corporate merger and acquisition (M&A), Bruner said in the arena of global M&A, "one of the most interesting developments are the across-border transactions between the United States and China," with notably the Chinese computer maker Lenovo's purchase of IBM's PC business.

When they starting to invest in the United States, he said he thought Chinese business executives should not be discouraged by some controversies.

"This (the United States) is an open business environment and it could be open to Chinese business, " Bruner said.

He also suggested that Chinese companies "think about where you have special expertise to offer" before making any M&A decisions.

"Don't buy opportunistically, buy strategically, and think about how the global industry is developing and attempt to build a defensive base accordingly, " said Bruner.

As the leader of one of the best business schools in the United States, Bruner also shed some lights on his vision of what makes a good MBA education.

In an increasingly competitive global economic environment, he said China really needs good business executives and good MBA education.

A first-class MBA education, like that in the Darden School, should be a breeding ground for leaders, not merely technocrats, said Bruner.

"We need people who know tools and concepts of their businesses, but who also communicate effectively, who can organize teams, who can inspire others, who can manage complex projects across borders, who are comfortable with new technology and who think creatively, and the best MBA programs teach students in those directions," he said.

In his upcoming trip to China, Bruner said he will try to reach out to Chinese students who wants to apply for leading US business schools like Darden, where currently some two dozens of Chinese students sitting in its classes.

He said he also looks forwards to exchanging opinions with universities and businesses in China and thought this will be a perfect opportunity to deepen his understanding of China's business education.

"That will be the way I begin to reach out to China," said Bruner.

Source: Xinhua