Private Insurgent vs State Monopoly

“However, this competition did not leave room for China’s private enterprises. China remains an atypical modern country, where the government controls unlimited resources, and large state-owned capital groups dominate the upstream of industries and participate in policy-making.”

“Through joint ventures, China’s passenger vehicle industry eventually formed the “Three Big, Three Small, and Two Mini” [[1]](#note1n) situation, which became insurmountable. On the positive side, joint ventures provided a lifeline for China’s auto industry amid dire shortages of capital and technology. However, from another perspective, they also exerted invisible pressure on newcomers.”