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How the state runs business in China

How the state runs business in China

Publicerat av Tony Harkén onsdag, 14 augusti 2019.

Much of modern China’s epic growth was driven by private enterprise – but under Xi Jinping, the Communist party has returned to be the ultimate authority in business as well as politics. By Richard McGregor.

When Xi Jinping took power in 2012, he extolled the importance of the state economy at every turn, while all around him watched as China’s high-speed economy was driven by private entrepreneurs.

Since then, Xi has engineered an unmistakable shift in policy. At the time he took office, private firms were responsible for about 50% of all investment in China and about 75% of economic output. But as Nicholas Lardy, a US economist who has long studied the Chinese economy, concluded in a recent study, “Since 2012, private, market-driven growth has given way to a resurgence of the role of the state.”

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Publicerat av

Tony Harkén

kina

Klockan i Hong Kong, Kina

CN - Time
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