Students compete in U-M's first China Business Challenge

ANN ARBOR, Mich.—More than 140 students on 80 teams are competing in the first annual China Business Challenge at the University of Michigan, organizers say.

A total $6,000 in prize money is offered to the top four teams with the best business models for booming China, which many economists believe will soon overtake the United States as the world's biggest economy.

"China is such a growing market, and entrepreneurs should be identifying opportunities in growing areas of the world," said Cameron Smith, an MBA student and an organizer of the competition.

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