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Smoke and mirrors

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September 2007

Big Tobacco must race against regulators and a global anti-smoking movement as it seeks salvation in China

At the turn of the century, American tobacco magnate James Duke was looking for ways to capitalize on a new invention, the cigarette-rolling machine. The story goes that he opened an atlas, scanning the population numbers of every country, until finally, he read the words “Pop. 430,000,000.”

“That is where we are going to sell cigarettes,” he proclaimed.

That place was, of course, China. Duke was the first chairman of British American Tobacco ...

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