Saurav New
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Crony capitalism in china •All banks in china are run by chinese communist party •Most of the investments are tightly controlled by govt. Including foreign investments •Private sector firms have very less access to finance or new markets
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Crony capitalism in chinaAll banks in china are run by chinese communist party
Most of the investments are tightly controlled by govt. Including foreign investments
Private sector firms have very less access to finance or new markets
How it is bad for china?According to world bank reports china is one of the most unequal economies in Asia.1% of chinese people control over 60% of the countries wealthAbout 90% of china's billionares are children of high ranking govt. OfficialsCorruption has become a part of the systemChinese central bank's research shows state directed lending led to 60% of bad loans in 2001-2002.
CASE STUDY
