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> “It’s surprising to see the number of bankruptcies in China is even lower than that in Netherlands or Belgium.” This is amazing, how can a country so big as
by cooervo 9y ago
> “It’s surprising to see the number of bankruptcies in China is even lower than that in Netherlands or Belgium.”
This is amazing, how can a country so big as China, have less bankruptcies than a micro state as Belgium. Unbelievable.
- deleted 9y ago[deleted]
- andruby 9y agoYou forgot the sentence before: > “The government should allow zombie companies to default or go bankrupt,” This probably means that in China, they just let the company "rot" in zombie state instead of letting it go bankrupt. In Belgium, a company needs to submit paperwork regularly, and if this doesn't happen, afaik, the company can be declared bankrupt by the government. Belgium has a large numbers of companies per capita. Our tax system nudges us to create companies for employment and investments, because of the high personal taxes. This skews the comparison.