Zotye, a carmaker, used it to tackle weak sales, and Wuliangye, a distiller, to improve the quality of its; it helped Zheshang Bank to digitise its operations and catalysed the development of energy-saving technologies at China National Nuclear Power. “Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era” is, on the basis of these companies’ annual reports, quite the business-practice panacea.
Those observations are right. The conclusion is misleadingly wrong, encouraging a complacent and dangerous underestimate of China’s potential trajectory. Mr Xi is not simply inflating the state at the expense of the private sector. Rather, he is presiding over what he hopes will be the creation of a more muscular form of state capitalism.
Entrepreneurs still have considerable latitude, so long as they stay in their lane and move in government-endorsed directions. And they still have powerful incentives. “To get rich is glorious”, a quip attributed to Deng Xiaoping that became a mantra for China in its go-go years, still applies. But only so long as your pursuit of riches also benefits the state.
Local officials have until now always had the option of simply ignoring court rulings: the head of a medical-services company complains that he was blamed for a health scandal in a small inland city caused by a firm that had stolen his company’s name and continued to use it three years after a court ruled against it. It is partly to patch up such holes that the government is developing its “social credit” system.
In other ways, though, it is what it was. Banks know that the government almost always bails out state firms, whereas private firms are left to their own devices; they are adept at contriving not to hear official calls for them to help small, struggling firms. Instead they direct most of their lending to state-owned firms—a rational choice in a still distorted market. This points to the other side of Mr Xi’s agenda: remaking China Inc.
In this respect “Made in China 2025”, a new industrial strategy announced in 2015, has proved crucial—though not in the way originally intended. Covering more or less all of manufacturing industry, it is anything but focused. “Basically, every department in the industry ministry came up with pet projects. But there was no real action strategy,” says Yu Yongding, an economist involved in developing some of China’s five-year plans.
When there is Xijinping and his CCP, there is no market mechanism to speak of. Don't whitewash totalitarian communist.
LightworkerAnon ...... a real DEAL BREAKER!
CONGRATULATIONS! To President XI, for his wise guidance of the 🇨🇳Chinese government, with 'Socialism with Chinese characteristics' it's a key issue, in the SUCCESS of the Chinese🇨🇳economy. Regardless🇺🇸US hypocrisy utilising: state sourced economic answers, to protect it's Ecomomy
Wow Just Wow. Was there a time when that could happen?
为什么每天发重复的新闻啊？
The time when Republicans downplayed their links with fascists and racists is also gone.
Boycott them
The world ecomocs numer one
We will get them all, do not worry that much about this land, the people have higher IQ
... lol, as Mao did
Fuck this pig
The Xi Economic Effect
ホロコーストしつつ、強制労働とか臓器売買でな
Sure, just like he remaked the global communist China virus!
1/3 Labor 1/3 Party Trusted 1/3 Local State
Communism is a CRIME !!
In the most unethical, desperate and autocratic way possible.
PMOIndia narendramodi_in RajnathSingh_in /If you wish to fight & defeat your Enemy, first and foremost is to Study him well & find his Strengths and Weaknesses. FinMinIndia can learn a lot from XiJingpingReal & use them in their policies.Simultaneously we defeat them as well
Nothing to do
Another hitler and the end of such people are always painful...
没毛病。
, forget to mention it PaidNews . bec , have never published any such article about realDonaldTrump in past 4yers . was he not doing the same job ? JustAsking
When rich gets richer, the poor becomes rich. The linked elevation. A States' richness is sum total richness of its Citizens. economy wef UN
One day you love it, the other day you hate it. China cannot be a modrl and evil at the same time
RT : “To get rich is glorious,” goes the mantra from the Deng Xiaoping era. But these days, that is only true so long as your pursuit of riches also benefits the state
You can thank me too
And each of these 'non state' companies has a CCP official sitting in its Board, directing business according to the Party's policy.
elonmusk brilliant analysis of China's economy
CCP is a disaster for the company’s founder, not the minority shareholders or employees, stupid economist.
It seems Xi Jinping has a new propagandist working for him and the CCP...
China Sux
It’s because of the “revolution of mixing national and private sector”,all the “private sector”is national hold.
他搞什么节约粮食，搞个屁？！其实就是想转移人们的视线，把注意力从南海转移到陆地上！ 毕竟里根号航母战斗群已经是“雷州半岛以东”了！大摇大摆的游弋实在是朝习总书记脸上打了一个结结实实的大嘴巴子！
Xin Jingping destroyed China's golden Goose, Hong Kong. More and more enterprises will pull their businesses out of China and let's see how China and Chinese suffer
they add trillions tru listing n bond sales on Wall St
Freedom of information there is no how to believe the news
Liberal media loves communist dictators!
Non state because economist says they are? Okaaay..
China has been re/building the country and economy since 1950's reconstruction began where have y'all been? auspol
BaldingsWorld omg...the financial news is waking up...better let than never. But still...should have happened before Hong Kong
No true companies in China is private, they are either quasi state-owned, de facto state-owned, or ready to be turned state-owned, look at Alibaba, Tencent, Lenovo Whoever think China companies are “private” are either too naive, or just too simple
XiJinping should be arrested for treating the country like his family business. He singlehandedly destroyed 40 years of China's progress.
What a scam!
TikTok Huawei Alibaba quasi-SOEs?
IDOL for the ECONOMIST....PCCH....La izquierda mundial con esta lacra china
It's called control economy, duh?
Communist China................ Communist. The Economist is a propagandist for Communists.
China has bought BeijingBiden. Trump2020Landslide BacktoWorkAmerica NeverSocialism NeverCommunism
Presd. Trump told that Pakistan is the safe heaven of terrorists. It is very true because it is a profitable business for Generals of Pakistan Army. But the etire world including president Trump are silent. Question is that why so silence against terrorists producing Pakistan?
Democracy, science, and freedom?
It's too late
No where to hide! TicTok and wechat etc... bind to ccp national law and indeed are cyber weapons, the world must take off to disarm CCP_is_terrorist. These companies form a gangster corrupting the world's civilization and human rights. BoycottChina
There's no such thing as a private Chinese company.
This is not the first, not the last. Chinazi CCP_is_terrorists
Xi should be condemned for his many actions by the world 🌎 Number one Virus ? Many others follow The most dangerous country in the world 🌎 China 🇨🇳
说再多也没用，骑驴看唱本——走着瞧。颜色革命就不要搞了，你们的把戏太low👎🏻了。小心反输出还给你。
One-party states are short-lived in history. Russia, USA, China, Brazil now, they quickly stagnate into mobster empires and then try to use war and aggression as a last gasp to save their ass, but there's nothing to save. The public has to stop tolerating these derelicts. Ever.
Capitalism and communism is an intriguing mix...
舔狗動作久了 加深了與扒其皮吃其肉者的關係 也算是是互動吧
They have the power and will to make everything happen 💪
You mean closer than in many western countries especially U.S. the country IS a company? Come on, Chinese government like many countries have good relationship with their companies, but U.S. is not a country, it's a business. Now You want to define CLOSE?
nmsl
博主 尼玛死了
What part of modern Chyna! is 'communist' apart from the name? It is a totalitarian capitalist/corporate state, ffs. THIS is communism.
The Economist keeps promoting Communism.
When you print the succes of China to deal with covid19 you make yourself sound stupid, if anyone believes china the epicentre of the pandemic and a third world country had 4000 deaths is crazy
bluecparentson9 China is murderer and dictator CCPChina
What mag is this? When other countries do this you SCREAM! I guess it's just 'cause China uses slave labor you're ok? Slavery destroys capitalism! So what's the point of your rag now?
Ojalá no lo consiga.
WTF's difference between China's State Capitalism; & America's Corrupt System of Predator Capitalism? Six of one - - half dozen of another. By any name Capitalism is weak & easily manipulated so Winners & Losers can be predetermined. Why do you think U.S., has huge income gap?
That claim was always naive. State capitalism has really worked well in East Asia. There was no way that capital in backward countries could dominate in open competition with imperialist capital or under conditions of economic and political domination.
The Chinese economy is more like the hugely successful American economy in the 1960’s than the current American economy is.
i like this pic, captures the creepiness of Xi Xinping and the CCP
Bad pic. Bad attention.
jarmiles BaldingsWorld Since 1995 China’s share of world gdp at market prices has risen from 2% to 16%. 20 years ago, for example, the emphasis was on trade, but now exports account for only 17% of gdp
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