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Essay text:
China’s four biggest banks and thousands of local lenders have allocated the country’s cash poorly.
Big bank loans built the more than 200 steel plants that China possesses. However, 85 of the plants produce 90% of China’s steel. China’s railways, on the other hand, are starved for money. The managers of these railways do not have the political connections that the steel plants have. This caused the Big Four to be created. The idea is that the foreign stakeholders will lend their expertise and., among other reforms, help straighten out the big Chinese banks’ loan books (Engardio 206)...
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