https://www.piie.com/research/piie-charts/2024/chinas-private-sector-has-lost-ground-state-sector-has-gained-share-among
Today they published a new report in the series. To my surprise, it includes a second chart with revenue-based data. Enjoy!
I was just wondering what the percentages were lately. Hot damn things are still going in the right direction!
important to note this is not the entire economy but just the top 100 firms.
looking at things as a whole, the capitalist sector is about 60% of GDP and 80% of urban employment.
https://news.cgtn.com/news/2024-01-07/Private-sector-development-to-keep-Chinese-economy-afloat-in-2024-1q8Vty953oY/p.html
it's still good news.
These developments look increasingly structural. The authorities' stance since 2020, including regulatory tightening and zero-COVID lockdowns, appear to have inflicted long-lasting damage to China's private economy, the dynamism of which was a defining feature of its economic miracle in the past four decades. Nearly 20 months into China's COVID reopening, the private sector has yet to bounce back, despite many pro-private business utterances and gestures from China's leadership. In sum, the findings here corroborate the view that China continues to suffer from "economic long COVID."
I wonder how the "pro-private business" countries are doing and whether there are any other markers of a healthy political economy that might not be the profits or revenue of the private sector.
Impressive report! I wish that my country could follow this trend as well. I can only hope
