LDK Solar (NYSE:LDK) is surviving due to the benevolence of the Chinese government. The company has made monumental blunders in the past and has executed dreadfully on its strategy. The company used to be the world's biggest supplier of wafers and built a giant 15,000 ton polysilicon plant. However, the company faced massive time and cost overruns which created a massive $3 billion debt mountain. The plant now lies idle as it is unable to compete with other low cost polysilicon companies. The company's expansion into other parts of the solar supply chain has also failed. The company sold one of the world's largest solar cell factories for a pittance and the company's foreign downstream acquisitions have also...
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