Was Deng Xiaoping Right? An Overview of China's Equity Markets

@article{Walter2014WasDX,
  title={Was Deng Xiaoping Right? An Overview of China's Equity Markets},
  author={Carl E. Walter},
  journal={Corporate Finance: Valuation},
  year={2014}
}
  • C. Walter
  • Published 1 September 2014
  • Economics
  • Corporate Finance: Valuation
In the western world, stock markets arose from the search by privately owned companies for capital to build their businesses. Over time, the markets became places where ownership interests and even entire companies were bought and sold. In China, the complete opposite has happened. The markets arose out of the need for capital by bankrupt state-owned enterprises operating in an economy with no history of private property. Deng Xiaoping, China's last emperor, gave the green light for the stock… 
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