Reforming China’s state-owned white elephants

From Asia Times, Qiu Xin wrote: “As China’s economy grows much too fast and economic reform is deepened in order to slow it down, Beijing over the past few years has been accelerating the restructuring of its (SOEs). These gargantuan enterprises used to be pillars and drivers of the Chinese economy but most have now become crumbling, non-performing liabilities. ”

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