Forging Reform in China
The Fate of State-owned Industry
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Forging Reform in China by Edward S. Steinfeld
Book DescriptionThe 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.
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Book DetailsISBN: 9780521778619
(228mm x 152mm x 18mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 13-Jan-2000
Country of Publication: United Kingdom
Books By Author Edward S. Steinfeld
Forging Reform in China, Hardback (July 1998)» View all books by Edward S. Steinfeld
Forging Reform in China explains how and why measures to reform unprofitable state-owned enterprises have not succeeded and how meaningful reform could be achieved.
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