📖 Narrative

"Meanwhile, the state-owned enterprises that soak up subsidized capital remain the least productive part of the economy, forcing Beijing into an uneasy dependence on the private firms it needs but doesn’t fully trust — a double-edged sword, as Jack Ma and Ant Group discovered when the state moved against them."

Framing: assertive · First seen: 2026-09-15 · Last seen: 2026-09-15 · Spread: 1 articles