Beijing needs to be bolder with SOE reform

The government wants to merge state companies in sectors with overcapacity, yet doesn’t want them to cut jobs. It's asking for trouble.

Wholesale industrial reform often leaves blue-collar workers as its biggest victims. Just look at the empty factories and houses across the rust belt US states of Michigan, Illinois, and Ohio. Their decline is a consequence of cross-border trade deals that gave countries that could build better and cheaper cars access to the world’s largest economy.  

¬ Haymarket Media Limited. All rights reserved.

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