Word: sectoral
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...problems.”But as increasing numbers of graduates enter the private sector—because of debt concerns or pressure from corporate recruiting—some students have concluded the School has fallen short of its lofty aim.In 2007, 41 percent of HKS graduates entered the private sector, the highest level in over a decade, and some students say the figure reflects a failing on the part of administrators to promote public sector careers.“That statistic, 41 percent, points to a larger problem at the School,” says Douglas A. Levine...
...sense, there are. China's long economic rise began in the 1980s when the communist government began dismantling inefficient state-owned companies and expanding the private sector, allowing greater scope for unfettered capitalism. But in recent years, the pendulum has begun to swing the other way. Many of China's state-owned enterprises (SOEs) have grown into giants, eclipsing the relatively young, private companies that have contributed heavily to the country's progress. That trend is being reinforced as China implements economic stimulus measures that in practice boost state-owned giants while private companies are left largely to fend...
...subscribers, Baoshan Steel and China National Petroleum Corp. The role they play in China's hybridized economy appears to be expanding due to the global slump. As Beijing fights recession with a $586 billion stimulus package and as banks boost lending at the behest of the government, the private sector looks to be getting squeezed out. Loans to private firms in January totaled $61.7 billion, down $102.5 million from the previous month, even as total lending has swelled, according to the All China Federation of Industry and Commerce. It isn't just financing that is flowing to SOEs...
...sector that is suffering the most is manufacturing, which is dominated by private companies. In 2008 an estimated 300,000 small and medium-sized firms collapsed; from January to March this year, exports fell by 19.7%, putting more pressure on the survivors. "The crisis hits China's private sector really hard because China's private sector accounts for a larger share of China's manufactured exports," says Yasheng Huang, an MIT professor who wrote about the rising power of SOEs in his 2008 book [Capitalism with Chinese Characteristics]. "So essentially you have a private sector whose main source of customers...
...Because SOE revenues depend less on internal and external demand and more on government spending, Huang says, "the state sector can simply produce without regard to market demand whereas the private sector cannot. This is why in a situation like this when the market demand has just collapsed the only one that is left standing is the state sector...