China’s Privately Held Companies Are Crushing State Owned

So much for socialism. When China was booming, so many people praised the “command economy” of China as a model to strive for. People cited the bogged down ways of American capitalism as something too bureaucratic, especially when compared to the dog eating ways of the Great Walled ones of the orient.

Well, well, well: what do we have here?

Privately held Chinese enterprises are poleaxing state owned companies by 100% over the past 5 years, and 40% over the past year.