I have discussed the perils of big-business centered industrial structure on numerous occasions.
Many of the East Asian countries have purposefully pursued the big-business centered industrial structure. While there have been some attempts to correct this, the skewed industrial structure hasn’t changed much.
Who have been the beneficiaries of this policy?
It has long-term repercussions since it impedes fair competition and nurtured crony capitalism.
Small businesses are the engine of hiring. Have they grown or declined since the Asian financial crisis?
How are they faring in these historic times?
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