China’s state-owned enterprises are on the march and account for 40% of China’s non-agricultural GDP
From the Economist
November 12, 2011
WHEN China joined the World Trade Organisation (WTO) in December 2001, many people hoped that this would curb the power of its state-owned enterprises. Ten years on, they seem stronger than ever. President Hu Jintao can expect to hear about this at the Asia Pacific Economic Co-operation summit this weekend. Hillary Clinton, America’s secretary of state, has warned stridently of the dangers of state capitalism. A Congressional report released on October 26th railed against the unfair advantages enjoyed by state-owned firms and lamented that China is giving them “a more prominent role”. Read more »