Forging Reform in China

The Fate of State-Owned Industry

Datos Bibliográficos

ID23399541
AutoresEdward S Steinfeld (0000-0002-9915-5613, Massachusetts Institute of Technology, autor de correspondencia)
Año1998
Fecha de publicación1998-07-28
Open AccessSí
TipoBOOK
RevistaForging Reform in China (SOURCE_BOOK)
EditorialCambridge University Press (PUBLISHER • US)
DOI10.1017/cbo9780511625831
OpenAlexW2254603981
Open LibraryOL34440151M
ISBN9780511625831
IdiomaEN
Citas recibidas106

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.

Argument (complex analysis) · Bankruptcy · Business · China · Corporate governance · Economic reform · Economic system · Economics · Face (sociological concept) · Market economy · Political science · State (computer science) · Work (physics) · China's Socioeconomic Reforms and Governance · Engineering · Finance