WSJ: China’s State Capitalism Collides With Its Technological Ambitions
Mon January, 2021, Age: 3 years
As China’s relations with wealthier, technologically advanced countries deteriorate, the question of whether its hybrid state-capitalist economy can become truly efficient has gained increasing strategic importance. There are signs of real progress, much of it ironically driven by foreign pressure and the fear of stagnation as links with more open economies erode. But the enduring power of Chinese state-owned companies and their pull over the financial sector still represent huge vulnerabilities.