Since the global financial crisis of 2008-9, central-level,
state-owned enterprises (SOEs) in China have extended their reach
into the Chinese economy. Some have interpreted this development as
a turning point in Chinese economic development; a decision for
state capitalism and a stand against slow but steady marketization.
In The Advance of the State in Contemporary China, Sarah Eaton
suggests that the shift is a much slower-moving process and that
this particular aspect of state sector reform can be seen to
predate the financial crisis. She argues that the 'advance of the
State' has in fact developed incrementally from an eclectic set of
ideas regarding the political and economic significance of large
and profitable state-controlled enterprise groups. Drawing from
case studies of China's telecommunication services and airline
reforms, this fascinating study offers illuminating insight into
China's much-vaunted, but poorly understood, brand of state
capitalism.
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