1. Definition of State Owned Enterprise.
State Owned Enterprises (SOEs) can be defined as nationalized corporations which are publicly owned by the state or government and usually exist in communist countries. In our case example, Anshan Iron and Steel Corporation in China, is the oldest and largest industrial base in the northeast Liaoning Province, had been losing money over the past couple of years after failing to get through the nationwide reform run in state-owned enterprises.
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transformation of SOEs from a planned economy to a market economy has not been a smooth one. All the former communist countries experienced a huge decline in output, a rise in unemployment, a massive rise in inflation, much greater inequality, the advent of an underclass of desperately poor people and a rise in crime. Most of these countries are now experiencing economic growth but many of them are very fragile and easily thrown into crises.