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Middle Kingdom Invites a Barbarian

has replaced state institutions as investors and suppliers of capital. There are no investment corporations as in India or elsewhere. The half-way house of 'market socialism' denies adequate opportunities for private investment and the creation of a share market or for the setting up of co-operative institutions. Private savings go into banks which in turn provide the loan capital for enterprises at high cost to the economy. These trial and error methods have brought insolvency to numerous enterprises, because the Yugoslavs have yet to learn some basic lessons about the links between capital investment and profit returns.

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