FACTS An officer in Midvale, Utah was doing some paperwork in his patrol car when he was approached by man, later identified as Nitokalisi Fonua (hereinafter, “Nick”). Nick “looked suspicious,” mainly because he was “jittery, looking around and appeared to be very nervous.” Nick’s suspicion rating jumped dramatically when, for no apparent reason, he informed the officer he had stolen a white GMC Blazer, which he had parked nearby. Naturally, the officer asked Nick if he would show him the Blazer, and Nick said sure. When they located the Blazer, the officer walked over and looked inside. The first thing he saw was a sawed-off shotgun on the back seat. Then he noticed some markings on the shotgun, “markings that looked gang-related.” Nick told the officer that the key to the Blazer was inside his motel room at the Days Inn. Also in the room, he said, were his “cousins,” meaning “people he knows from the streets.” The officer asked Nick “if we could obtain the keys to the vehicle so we could turn those back over to the owner.” Nick said the keys “were in the room somewhere” and that he “didn’t care” if the officer went in and retrieved them. Nick also gave the officer his key to the room. When backup arrived at the motel, officers knocked on the door which was opened by a man named Vake. There were two other occupants: a woman and Kimoana, the defendant. By this time, the officers were aware that Kimoana—not Nick—had rented the room. The first thing the officers saw as the door opened was the woman pointing “an unidentified black object” at the wall. Concerned for their safety, they ordered the occupants to “show their hands.” Then they pat searched them. Finding no weapons (the “unidentified black object” was a television remote control), they holstered their guns. Although the officers already had Nick’s consent to search the room, they sought and obtained consent from Vake. During the search, they found a “long-barreled revolver” under a mattress. As the result, Kimoana was convicted of being a felon in possession of a firearm.

United States V. _____

This study summarizes the economic and political developments relating to privatization, state capitalism, and state ownership of business since 2000 and then surveys the extensive recent research examining these issues empirically. Through the early 21st century, there was an unambiguous global trend towards reducing government ownership of business enterprise, but this trend has since at least been slowed, and perhaps even reversed. We discuss the factors that have promoted a global resurgence of state ownership, then define and analyze the new ideology labeled “state capitalism.” Recent research examines whether privatization improves the operating and financial performance of divested companies, as well as when, where and how governments decide to privatize individual companies and how these sales are priced. All the performance studies surveyed document significant improvements after companies are divested. Recent academic and professional research categorizes and evaluates various types of state owners; examines determinants of the level of state ownership; studies how state ownership impacts the valuation of corporate assets and examines the relative efficiency of state versus private ownership; and assesses how state ownership impacts corporate financial policies, especially capital investment. This research highlights that different types of state owners have very different impacts on corporate value and performance, and that state ownership generally has a significant, and mostly pernicious, impact on corporate investment and financial policies. The separate effect of state ownership on corporate valuation is less clear-cut. This survey also summarizes recent empirical research examining the relationship between state ownership of business assets and financial markets and institutions, and also surveys the literature examining political connections between politicians and corporate managers. Sovereign wealth fund research yields essentially benign findings, but almost all studies examining state-owned banking show that state ownership reduces banks’ efficiency. All the financial markets and institutions studies examined highlight the distortive effects and economic costs of bailouts and guarantees, and almost all the political connections studies find that these connections are privately beneficial but socially costly. Finally, the research surveyed here convinces the author that “state capitalism” is an essentially failed model.

Privatization, State Capitalism, and State Ownership of Business in the 21st Century

This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and ...

https://www.econstor.eu/bitstream/10419/193977/1/978-1-76046-225-3.pdf

China's 40 Years of Reform and Development: 1978-2018

Autorius disertacijoje “Muitų teisinio reguliavimo ypatumai tarptautinėje prekyboje tarp Europos
Sąjungos ir Kinijos Liaudies Respublikos, Rusijos Federacijos bei Indijos Respublikos” tiria muitų, kaip
pagrindinės tarptautinės prekybos reguliavimo priemonės, teisinį reglamentavimą ES ir jo taikymo
ypatumus treciųjų BRICS regiono valstybių, pagrindinių ES tarptautinės prekybos partnerių, atžvilgiu.
Atsižvelgiant į tai, disertacijoje tematinės analizės metodu, remiantis besiformuojancia tarptautinių
gincų sprendimo institucijų (PPO), ES Teisingumo Teismo ir nacionalinių teismų (Lietuvos vyriausiojo
administracinio teismo) praktika teisiniuose gincuose dėl muitų taikymo tiriamų valstybių atžvilgiu,
identifikuojamos teisinio reguliavimo problemos muitų bei su jais susijusių importo mokescių taikymo
srityje (tiek tarptautiniu/daugiasaliu, tiek supranacionaliniu, tiek ir nacionaliniu lygmeniu), siūlomi
ES ir jos valstybėms narėms (Lietuvos Respublikai) aktualūs jų sprendimo būdai. Teikiant siuos
pasiūlymus, atsižvelgiama į tyrimo duomenimis patvirtintą būtinybe pasalinti nustatytas ES muitų
teisės spragas bei neaiskumus, taip pat užtikrinti nacionalinės praktikos bei teisinio reguliavimo atitiktį
ES muitų politikos nuostatoms.

/pdf/muitu-teisinio-reguliavimo-ypatumai-tarptautineje-prekyboje-3kwhnvgdv3.pdf

Muitų teisinio reguliavimo ypatumai tarptautinėje prekyboje tarp Europos Sąjungos ir Kinijos Liaudies Respublikos, Rusijos Federacijos bei Indijos Respublikos

The Lancet and Financial Times Commission on governing health futures 2030: growing up in a digital world

Chinese state capitalism has been treated as essentially synonymous with state-owned enterprises (“SOEs”). But drawing a stark distinction between SOEs and privately owned enterprises (“POEs”) misperceives the reality of China’s institutional environment and its impact on the formation and operation of large enterprises of all types. We challenge the “ownership bias” of prevailing analyses of Chinese firms by exploring the blurred boundary between SOEs and POEs in China. We argue that the Chinese state has less control over SOEs, and more control over POEs, than its ownership interest in the firms suggests. Our analysis indicates that Chinese state capitalism can be better explained by capture of the state than by ownership of enterprise. We explain the mechanisms of capture in China and argue that due to China’s institutional environment, large, successful firms — regardless of ownership — exhibit substantial similarities in areas commonly thought to distinguish SOEs from POEs: market dominance, receipt of state subsidies, proximity to state power, and execution of the state’s policy objectives. We explore the significant implications of this argument for theory, policy, and law.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID2413152_code1688367.pdf?abstractid=2413019&mirid=4

Beyond Ownership: State Capitalism and the Chinese Firm

/pdf/beyond-ownership-state-capitalism-and-the-chinese-firm-43cm77c4p2.pdf

Assessing China's Cybersecurity Law

In August 2007, China adopted the Antimonopoly Law, its first comprehensive antitrust legislation, thirteen years after the drafting of the law began. Such a protracted legislative process is highly unusual in China, and can only be explained by the controversies the law presents. This paper discusses the fundamental issues in China’s economy that give rise to the challenges China faced in the drafting and adoption of the Antimonopoly Law. Those fundamental issues include the role of state-owned enterprises, perceived excessive competition, mergers and acquisitions by foreign companies, administrative monopolies, and the enforcement of the Antimonopoly Law. How China will enforce the Antimonopoly Law in light of those fundamental issues will determine the effectiveness of the law and define the parameters of China’s future competition policies.

/pdf/china-s-competition-policy-reforms-the-anti-monopoly-law-and-38q74tvui2.pdf

China's Competition Policy Reforms: The Anti-Monopoly Law and Beyond

More than twelve years have elapsed since China began its efforts to enact a comprehensive antitrust law. Today, drafts of the law are still being debated. Such a protracted legislative process is highly unusual in China, and can only be explained by the controversy the draft law generates. After a brief review of China’s current competition policy, this paper discusses the fundamental issues in China’s economy that give rise to the challenges facing China’s antitrust policymakers in enacting the new antitrust law. These issues include the role of state-owned enterprises, perceived excessive competition in China’s economy, mergers and acquisitions by foreign companies, the treatment of administrative monopolies, and the enforcement of the antitrust law. While those controversies create significant policy issues for China, they do not constitute valid objections to the enactment of the new antitrust law. Meanwhile, it will be important for China to recognize that the new antitrust law alone will not be sufficient to fully realize its goal of promoting competition in its economy; other reforms will be necessary as well. China will be better off by moving swiftly to enact the new antitrust law, while keeping the momentum to engage in those other reforms.

Wentong Zheng

Papers

Beyond Ownership: State Capitalism and the Chinese Firm

Beyond Ownership: State Capitalism and the Chinese Firm

Assessing China's Cybersecurity Law

China's Competition Policy Reforms: The Anti-Monopoly Law and Beyond

China's Competition Policy Reforms: The Antimonopoly Law and Beyond