Privatization is not a panacea and needs to be complemented by the right tax structure, a transparent and honest regulatory framework and emphasis on the greater good, global leaders advised today at a BusinessWeek conference in Beijing.
Speakers ranging from former Philippines President Fidel Ramos, former New Zealand Prime Minister Jenny Shipley and India's former Minister for Disinvestment, Dr Arun Shourie concluded that while the privatization process was undoubtedly improving the dynamism of an economy, certain challenges should not be ignored.
Professor Yang Ruilong of Fudan University said that the key question facing privatization in China was the division of the benefits. In Russia, you certainly...
