The Role of Government in Industrialization

At the beginning of 2019, I visited Taipei and met a local executive of an American company who exclaimed: “The economics on your mainland (China) is different from what I studied at Harvard Business School - markets, competition, supply and demand – your mainland companies receive government subsidiesgovernment subsidies and support, how can we be expected to win such competition? You cannot do that all the time, otherwise our companies will die!”