A big part of it is the fact that the Chinese government hold enormous sway over private companies. The US for example has a constitution which protects private ownership, and which the courts have upheld. China has no such protection for its private companies.
Take for example the recent law requiring companies in China to “support and cooperate in national intelligence work“. Private companies in China have no ability to fight against such a law.
So I wouldn’t say it’s a “holdover”... let’s not forget that even with China’s economic modernizations, it’s still a totalitarian regime.
Take for example the recent law requiring companies in China to “support and cooperate in national intelligence work“. Private companies in China have no ability to fight against such a law.
So I wouldn’t say it’s a “holdover”... let’s not forget that even with China’s economic modernizations, it’s still a totalitarian regime.
See:
https://www.afr.com/policy/foreign-affairs/no-such-thing-as-...
https://www.theguardian.com/world/2019/jul/25/china-business...