1/4
This OECD study is likely to have an important effect on global trade discussions, but its worth noting that its measure of the extent of Chinese subsidies do not include two of the most important subsidies that drive the global competitiveness of Chinese manufacturing.
Michael Pettis
1/6
Financial Times: "A company-level OECD analysis of government subsidies across 15 key industrial sectors found that nearly 60 per cent of Chinese firms’ global market share gains since 2005 could be attributed to subsidies."
www.ft.com/content/885c...
www.ft.com
Companies in China benefit from eight times more state support on average than rich-world rivals, report claims
