Will China really take over?
Out of context: Reply #42
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- ukit0
Interesting article
http://www.bloomberg.com/news/20…
Four years ago, China’s leadership decreed that certain “pillar” industries, including automaking, telecommunications, mines, energy production and steel manufacturing, should be dominated by companies under government control.
Today, those newly assertive state-owned enterprises (SOEs) are snapping up domestic rivals, expanding their market share and elbowing aside Western investors such as the Washington- based Carlyle Group in the quest for assets. Their rise comes as China surpasses Japan to become the world’s second-largest economy, and has helped inspire a new school of thought called the Beijing Consensus, which holds that state-directed capitalism can help developing nations avoid the financial upheavals associated with free markets.