Renationalization of Chinese Companies
This entry was posted on 8/26/2009 9:17 AM and is filed under uncategorized.
One of the biggest stories was
reported in the FT today. It was part of a much larger process that I have been
following over the past 6 months. The Chinese are slowly renationalizing their
economy. Makes sense. No legal limits. They are slowly using this recession to
take over weak private firms. Won't help anyone or anything. Does not help consumption, over investment or
productivity. Makes them all worse.
A hostile takeover
of one of China’s largest non-state steel groups by a state-owned competitor
could be finalised as early as next week in a deal that has heightened concerns
about creeping renationalisation. Financial Times
August
25 2009
