Word: state-run
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...more than a year for the exams, and was poring over a few last-minute math equations on a bench shortly before testing began. Her mother, anxiously fanning the girl as she studied, once fought for the communist side in the Vietnam War and recently retired from a state-run factory, but she dreams of her daughter working in banking or finance. "It's not like the old days," Phuong's mother says. "If children don't have a university degree, it's really difficult to get a good...
...more than a year for the exams, and was poring over a few last-minute math equations on a bench shortly before testing began. Her mother, anxiously fanning the girl as she studied, once fought for the communist side in the Vietnam War and had recently retired from a state-run factory, but she dreams her daughter can someday work in banking or finance. "It's not like the old days," she said. "If children don't have a university degree, it's really difficult to get a good...
...securities law a year ago, and it's also why, bankers in China say, they wanted to give retail investors a shot at investing in well known companies. "For the last year," says a western banker in Hong Kong, "the word has definitely gone out that solid, state-run companies already trading in Hong Kong should consider IPOs on the mainland." If, in the process, that diverted some savings that was otherwise serving to drive up the price apartments in Shanghai - and it definitely did - that was fine...
Bureaucracy, corruption and lack of a free press are huge obstacles to a similar change in China, but there are some encouraging signs. In 2004 the deaths of 13 babies who were fed adulterated milk powder touched off a national furor. The state-run broadcaster CCTV airs a popular weekly program on food-safety scandals. China's leaders, says Zweig, "know that Chinese people have this sense that they deserve better." The World's Factory After a series of product recalls, from pet food to tires, American regulators are paying more attention to the goods exported to the U.S. from...
...into Luanda offering huge sums in return for access to oil, while foreign governments have bolstered their case with aid. China has made a habit of outbidding the world here. In 2004, years of talks over structural reforms between Angola and the International Monetary Fund became redundant when a state-run Chinese bank offered a $2 billion line of credit without any such requirements for reform. In 2005 and 2006, the Chinese announced loans worth an additional $3 billion...