GOLDMAN SACHS WARNS CHINA OF POTENTIAL RISKS
AsiaInfo Services, November, 2005
AsiaInfo Services 11-15-2005 Goldman Sachs Warns China of Potential Risks BEIJING, Nov 15, 2005 (SinoCast via COMTEX) -- Goldman Sachs, one of the leading investment banks in the world, warns China that the country's monopolistic state-owned enterprises (SOEs) will obstruct improvement of its productive force. China economy grew from 1978 thanks to the improvement of the productive force, which is attributed to the withdrawal of SOEs in the transition from a planned economy to a market economy, according to a Goldman Sachs report. That means the decrease of China's SOEs will drive the promotion of its productive force.
Most of the large-sized SOEs exist in the monopolistic industries, such as steel, energy and telecom. In the past 27 years, the country's...
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