China’s privatisation efforts deserve more credit than they get. But they still don't solve the problem
The event would be big in any country. But in Japan, a land of corporate conservatism and secrecy, it will make history.
On November 4, the country will privatise Japan Post, the state-owned mail service, in what will be its largest IPO in more than 30 years. The company, which employs 200,000 staff and controls both Japan’s largest bank and insurer, hopes to raise $11.5 billion. The listing has been more than a decade in the making.
Across the pond, in China, privatisation efforts remain a far cry from eliciting such superlatives.Read More