"The iron rice bowl has become a pot of gold," says James McGregor of the dominance of...

|By:, SA News Editor

"The iron rice bowl has become a pot of gold," says James McGregor of the dominance of state-owned enterprises (SOE) in China causing an inefficient allocation of resources. The success of China, he argues, has much to do with a population that is "good at getting around bad policies ... but (now) it's getting harder to get around bad policy."