Creative Destruction of the State

Chi Lo

Chapter 3 in Understanding China’s Growth, 2007, pp 67-95 from Palgrave Macmillan

Abstract: Abstract Economic reforms in the past 25 years have moved China a long way away from a planned economy, where the Communist Party (or the state) owns and controls everything from assets to business and daily life activities, to a more market-oriented system. Nevertheless, the state still owns and runs a big part of the economic system, in particular in heavy and high-tech industries and services. China’s hybrid system of planned-market economy has created confusion about the role of the state sector. At times, even the local government officials do not know where the line between state and non-state assets lie. This confusion has even made it difficult for privatizing the state companies, as the lack of clear definitions for many state assets makes the officials hesitate to move.

Keywords: Private Firm; State Sector; Chinese Firm; Creative Destruction; Asset Ownership (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59120-2_4

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DOI: 10.1057/9780230591202_4

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