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Three is a crowd

PPP flop hammers home China's crowding out crisis

Rachel Morarjee 

Rachel Morarjee China'sgrandplantowooprivatecapitalhassofarbeenaflop.Anefforttopushprivate-publicpartnership(PPP)projectshasinsteadspawnedcozydealsbetweenthegovernmentandstatefirms,anewstudyshows.Thatisbadnewsforcuttingcosts,trimminggovernmentdebt,andboostingefficiency. Thestate'stopplanningbody,theNationalDevelopmentandReformCommission,hasraisedoverhalfofa3.5trillionyuan($526billion)targetforPPPprojectsrangingfrombridgesandroadstoschoolsandhospitalssinceMarch2015. Butover90percentofthefundshavecomefrom ...

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First Published: Thu, August 25 2016. 21:32 IST
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