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Economic overhaul: China opens doors to more private competition

15.11.2013 13:08

In the biggest economic turnaround in two decades China’s leaders have pledged more private competition in dominant state industries. The new economic plan aims at rejuvenating a slowing economy and also eases limits on foreign investment in e-commerce.

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Comments (4) Sort by: Highest rating Oldest first Newest first

 

Ingvar Kyi 19.11.2013 03:11

Welcome to the final stage of Chinese Perestroika. Wonder if Bo Xilai (and Zhou Yongkang) would've expedited or foil it.. Depends on which side of the elite they've played. "Private competition" doesn't work, never has. Capitalism is extensive (as opposed to intensive) system. Unless China is ready to get out and capture some new markets...

 

Karel Cleuren 18.11.2013 20:17

They should start with adapting the laws of minimum wage requirement, so people don't have to work for a pay that allows them to buy enough food to live and if lucky some place to live. Then they can be lucky that they can work or live in a safe building under somewhat decent circumstances.

At least like this the overall comsumer rate would go up. Leading to a healthier economy. Nature could use a hand (kind a whole lot of people could be put on that, jobs for the unemployed and homeless?). The finances? Do what the rest of the world does print it. If everyone is broke at least you got infrastructure.

 

漢陰陽 18.11.2013 09:07

stan2013 16.11.2013 09:37

just don't allow [privatization] into key resource-based companies. Government should keep 50% of the shares.

  

Agreed.

 

Alex 15.11.2013 16:55

Betoger 15.11.2013 15:11

WOW! Another 1.3 billion people that western banksters can cheat out of their hard earned cash.

  


Essentially, yes. It's too bad that "private companies" doesn't really mean the free market anymore when it comes to international trade.

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