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Tewoo Debt Plan Shows China Is Allowing State Firms to Fail
submitted 4 years ago by edwwsw from bloomberg.com
[–]magnora7 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - 4 years ago (0 children)
Makes sense. In their state-controlled capitalism, they get to ultimately decide who the big winners and losers are.
Which is not wholly unlike the US, which does it through corporate regulatory capture of the regulatory agencies that are supposed to oversee these companies. The CCP rather does it openly in central committee meetings. In the US the companies run the show, in China the CCP does
[–]magnora7 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - (0 children)