2015考研英语阅读竹节资本主义_大学英语阅读

2015考研英语阅读竹节资本主义

　　The Mittel Kingdom

　　First, there is the scale of their activities. Three decades ago, pretty much all business in Chinawas controlled by one level of the state or another. Now one estimateand it can only be astabputs the share of GDP produced by enterprises that are not majority-owned by thestate at 70%. Zheng Yumin, the Communist Party secretary for the commerce department ofZhejiang province, told a conference last year that more than 90% of Chinas 43m companieswere private. The heartland for entrepreneurial clusters is in regions, like Zhejiang, that havebeen relatively ignored by Beijings bureaucrats, but such businesses have now spread far andwide across the country.

　　Second, there is their dynamism. Qiao Liu and Alan Siu of the University of Hong Kongcalculate that the average return on equity of unlisted private firms is fully ten percentagepoints higher than the modest 4% achieved by wholly or partly state-owned enterprises. Thenumber of registered private businesses grew at an average of 30% a year in 2000-09.Factories that spring up alongside new roads and railways operate round-the-clock to makewhatever nuts and bolts are needed anywhere in the world. The people behind these businessesendlessly adjust what and how they produce in response to extraordinary competition and fluctuations in demand. Provincial politicians, whose career prospects are tiedto growth, often let these outfits operate free not only of direct state management but alsofrom many of the laws tied to land ownership, labour relations, taxation and licensing.Bamboo capitalism lives in a laissez-faire Bubble.