Chapter 5 What to Do with the State-Owned Enterprises?
Dr. Ke [Clifford], the strategy you give us must be implementable!
—Words of the CCP party secretary of a large SOE to the author in 2001 during a consulting project, sharing his concern about the adaptability of Western business practices to Chinese conditions.
Viewed superficially, it seemed to some that China was privatizing its largest state-owned enterprises (SOEs). Surely this would undermine the fundamentals of the “socialist” political order? The reality was that there was no inconsistency, since China’s real intent was quite to the contrary. It was to breathe new life into the large SOEs in order to ensure their competitiveness and survival. It actually all fit together as part of ...
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