You do not have to look too hard to find failures of state-run economies around the world. Since the collapse of the Soviet Union, there is less enchantment with the model — outside China, anyway — than there once was. But what we remain plagued with is the idea government has a role in the ownership, operation and pricing of “strategic assets.
” We wrote recently about power rationing in China due in part to a political spat with Australia. As a result, Beijing decided it was a good idea not to buy Australian coal.…India Is Facing A Serious Coal Crisis
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