CHINA: Despite emergency measures to boost China’s...
Times Staff and Wire Reports
CHINA: Despite emergency measures to boost China’s state-run companies, losses are continuing to mount. In 1990, 31% of state-run companies posted deficits, a sharp increase over 1989. Total losses climbed 128% over 1989. The Chinese government had procured emergency raw materials and funds for the firms and cut interest rates to boost production, but the measures only pushed up inventory in warehouses, the Japan Economic Journal reported.
