Forging reform in China, the fate of state-owned industry, Edward S. Steinfeld
Type
Label
Forging reform in China, the fate of state-owned industry, Edward S. Steinfeld
Language
eng
Index
index present
Literary Form
non fiction
Main title
Forging reform in China
Medium
electronic resource
Nature of contents
dictionaries
Oclc number
776951071
Responsibility statement
Edward S. Steinfeld
Series statement
Cambridge modern China seriesCambridge Social Sciences eBooks
Sub title
the fate of state-owned industry
Summary
The greatest economic challenge facing China in the post-Deng era is the reform of unprofitable, state-owned enterprises (SOEs) which threaten to drag down the rest of the economy. Despite an array of well-intentioned, market-oriented reform measures, these firms have never truly been forced to face the pressure of a bottom line, or the threat of bankruptcy. Forging Reform in China explains how and why these measures have not been sweepingly successful to date, and what it would take to achieve meaningful reform. The author investigates firm-level processes, including case studies of China's steel industry giants, revealing institutional and systemic barriers to market-oriented performance. This book makes a compelling argument that private ownership cannot work in China's current system until governance over complex economic factors has been established, that is, until credit is tightened and market selection processes made to work.--, Provided by publisher
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