Mr Lee said Chinese internet companies such as Baidu, Tencent and Alibaba were likely to retain their stranglehold on the Chinese market as misgivings about China held their American rivals back.
His remarks come after Google saw its market share in China slide following a radical change in its approach to the country over the past eight months. “People have to evaluate their overall equation, their level of discomfort with this country, their belief they can be successful, how lucrative the market is, how flexible they are with their policies, how much money they have,” Mr Lee said. “They have to balance all those things. Clearly, today, those stars are not aligned.