Some NE companies lost there competiveness is due to the global downturn of the steel and heavy industries. Also due to the depletion of oil in NE. Natural cause, not necessarily failure of the system. Adaption to the new economy development area need time, nobody can do it in a second.
You are exaggerating by claiming Southern China's relative success is because of private sector. Regardless the per capital income, give me names of big business. I can give you two, COMAC at Shanghai. China Guangdong Nuclear corp. at Guangdong.
wait, what?
over the sudden, all the great achievements that you praised all this time become necessary evil?Do you have the ownership structure of Haier and TCL? Are you confusing public traded company with private owned company? What will you call it if the "state asset administration" owns 70% share of a company while the rest 30% share is owned by individuals? Is it more closer to be a SOE or a private company? Who dominate whom? To tell you the truth, most of the SOEs have shares publically traded in open market. You can buy shares of ICBC, but nobody would call ICBC a private company.
You totally forget who Deng Xiaoping is. He is first and foremost a Communist, so are his successors. Thinking of him preferring capitalism (private sector dominating) is akin to thinking of Trump embracing Communism. Plain outlandish.
As of the inspiration from oversea Chinese, I believe you are talking about Deng Xiaoping's close relationship with Lee Kuan Yew. Yes Deng did take lots of advices from Lee and looked to Singapore for experience, but he and his successors also looked all over the world for lessons. You take too much credit for Lee or Singapore in China's success. You are not alone in taking credit, we have heard that kind of words from the Americans too "China owe us because we let them in WTO, we let them become rich by putting our factories in China, etc. etc."
To be honest, although oversea Chinese had great contributions to China's development, but let's face it, non of them has any successful big business (the C919 or nuclear plant category). For that is the backbone of a country in the size of China, and it is SOEs who do it, and they did their own change without privatization (inspiration in your words).
Necessary evil is more appropriate to be applied to the "enlarged private sector" which is capitalism in nature. As long as CPC is in power and PRC is alive, it is the capitalist element in the economy being the necessary evil rather than the other way around as you suggested. Don't forget who is in charge.
I will stop further debate with you as I don't see a point of getting into a heated exchange of words for no apparent reason, see my not-responded complaint to you.
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