CAS IR 365 Lecture Notes - Lecture 5: Fixed Investment, State-Owned Assets Supervision And Administration Commission Of The State Council, State Capture
5 Oct 2017
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Document Summary
In charge of improving all infrastructures: minister of finance, mfa, minister of foreign affairs, mofcom, minister of foreign commercial activities. Chinese companies: policy-relevant questions, mixed economy: soes vs. Overview viewpoints: reform: increasing presence of private companies, majority of economic activity, soe dominated national assets, the vast majority of large firms are state run, soes as an integral part of the political power structure. Instruments of macroeconomic policy and industry regulation in place of relatively weak formal policy. Soes are greater than implied by economic statistics alone: private enterprises: crony capitalism. National champions (china copied this term from the japanese) ranking. In-house financial arrangement: relations with the government, human resources & personnel, contrast to korea chaebols: diversification. Industrial concentraion vs. diversification: contrast with american mncs. Competition & monopoly: soes are pervasive, politically influential, and in command of resources disproportionate to their contribution to output.
