(Wall Street Journal) When Beijing recently sent a top economic planner to the U.S. to spread word of China's ambitious new reforms, the free market got a big, amorous hug.
"The market will play the decisive role in resource allocation," promised Zheng Xinli, who helped draft the much-heralded economic reforms. Competition—not the dead hand of government—"will unleash productivity" and will decide which companies live and which die.
But tell that to Microsoft, whose offices in China were raided by the government this week. The company joins a growing list of U.S. tech firms accused by the Chinese of violating antitrust laws. U.S. business advocates see the dead hand at work—one keen on promoting Chinese industry at the expense of foreign companies.
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