Tuesday, July 10, 2012

Obama's plan to 'fix' economy looks a lot like ... China's

China boosts state firms as entrepreneurs struggle

ZHANJIANG, China (AP) - Reformers say China needs more entrepreneurs like Liu Peijian. His chain of six furniture stores employs 60 people. But Beijing's response to the deepest economic slump since the 2008 crisis is to pump money into state industry, leaving businesspeople like Liu who create jobs to fend for themselves...

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