Latin America sharply reduced its trade barriers and privatized its state owned firms.

For example, by disfavoring lending to private firms, state owned banks distort the allocation of resources.

And Chinese firms too often state owned are seeking greater investment opportunities abroad in major industries, particularly energy.

Then came Georgia s Rose Revolution. Many state owned firms were privatized for ten times the sums yielded in asset sales under the previous government of Edvard Shevardnadze.

Even the recently announced privatization of non controlling stakes in the largest state owned firms while timely and laudable will not create an irreversible commitment to reform.

Exposure to domestic sovereign obligations by state owned enterprises and local governments accounts for about 32 trillion, and obligations by private firms amount to roughly 24 trillion.

Ships owned or operated by a State

Prior to the outbreak of the civil war in 1991, the roughly 53 state owned small, medium and large manufacturing firms were foundering, with the ensuing conflict destroying many of the remaining industries.

State owned forests and forest land is 81 per cent and private owned is 19 per cent.

Many service firms in Asia are owned by the public sector, so governments have less incentive to deregulate services.

By forcing banks to offer lower interest rates to state owned enterprises, the government drove private firms and households to informal lenders, fueling the emergence of a large and risk laden shadow banking sector.

Powerful political families run many Chinese state owned enterprises.

The market share of state owned banks is 85 .

Namibia has a state owned Press Agency, called NAMPA.

Finally, the state competes with the private sector via state owned enterprises and utilities.

But, despite being state owned and subject to policy decisions, they function as commercial enterprises (with the possible exception of Norway s hydrocarbon funded state owned investment vehicles).

State owned land is valued at more than 7 trillion.

There is little to resuscitate among the state owned enterprises.

Not a single state owned company has an independent chairman.

And, aside from a relatively small number of joint ventures with foreign partners and state enterprises that are in fact hybrid public private firms, most businesses today, including publicly listed companies, remain family owned or dominated.

Ministry of Tofu translated an infographic comparing the status of state owned enterprises with the private owned enterprises in China.

Despite privatization, there are roughly 119,000 state owned enterprises today, with a book value of about 4 trillion. State owned land is valued at more than 7 trillion.

To support China s participation in global manufacturing supply chains, many local governments sold and dismantled their state owned enterprises (SOEs), enabling many new private firms to provide the services needed for an export oriented, market based economy.

Decree No. 86 154 PCMS SEM of 23 October 1986 on the regulations governing the staff of industrial and commercial public institutions, State owned and part State owned companies

These former State owned enterprises are known GLCs because the State still retains significant influence over their management control primarily through four State owned holding companies Temasek Holdings, Singapore Technologies, MinCom Holdings and MND Holdings.

Moreover, the firms listed on China s stock exchanges are not representative of the country s companies. Majority state owned firms account for two thirds of the market value of the country s exchanges, for example, though they are responsible for no more than one third of Chinese GDP and an even smaller share of employment.

By returning most state owned industries to private ownership, the Thatcher revolution killed off state socialism.

Many of these heavily indebted enterprises are state owned, and have borrowed from state controlled banks.

Iraq s state owned enterprises were the cornerstone of Saddam Hussein s economic policy.

Local governments and state owned enterprises do not necessarily have those concerns.

Credit to state firms and to households continues to grow rapidly.

Tahoun analyzed the relationship between stock owned by congressmen and contributions their political campaigns by the relevant firms, and found a powerful positive association.

According to the Cambodian Center for Human Rights, the Cambodian government has granted 4,615,745 hectares in concessions to 107 Chinese owned firms since 1994.

The State owned telecommunication system is barely functional, and nearly all telephone services in the country are provided by privately owned cellular phone networks.

In 2004, Russia s state owned Vneshtorgbank acquired a controlling stake in Armenia s Armsberbank.

State owned enterprises, or their subsidiaries, dominate key markets, as in interwar Italy.

State owned enterprises have acted as incubators for technical skills and managerial talent.

Most of the phone lines are operated by Beltelecom, a state owned company.

The demonstrators chanted beautifully rhymed, yet angry, slogans against Israel and the U.S., but quickly the chants changed to denouncements of the police presence, torture, electoral vote rigging, privatization of state owned firms and the deterioration in the country s national insurance system.

Combined, these state owned assets total almost three quarters of China s national productive wealth.

First, other privatized state owned operations, especially postal and telecommunication services, could follow suit.

Indeed, many employees of state owned enterprises show little interest in returning to work.

In most regions, pastures are State owned, and rural residents use them for free.

Sovereign wealth funds, too, are increasingly involved in financing development. But, despite being state owned and subject to policy decisions, they function as commercial enterprises (with the possible exception of Norway s hydrocarbon funded state owned investment vehicles).

It is inevitably a long road from a starting point where credits are channeled to state owned enterprises through state owned banks to an economic environment in which interest rates are a proper indicator of monetary policy.