"The Trump administration is, rightfully, demanding a slew of reforms to Chinese practices it considers “unfair.” Washington wants Beijing to cut back on the subsidies and other financial support it lavishes on favored industries, to stop compelling U.S. firms to disgorge their commercial secrets, and to widen access to China’s lucrative home market for foreign companies.
But what is “unfair” in American eyes is simply a matter of daily business in China. Sure, China’s spectacular ascent was sparked by capitalist reforms that opened the economy to private enterprise and international trade and investment. Its economic system, which its leaders call “socialism with Chinese characteristics,” relies on a much heavier role for the state than any true capitalist could stomach, though. Large swaths of the economy remain well under the thumb of meddlesome state planners and bureaucrats, and their web of permits and restrictions. Many of the country’s critical industries, from automobiles to banking to microchips, are to a great degree in the grasp of state-owned enterprises or heavily supported by state aid, or both."
https://www.blogger.com/blogger.g?blogID=6889669901833866910#editor/target=post;postID=7755887077366643548
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