A new term i come across last month. In S'pore, most obvious example are the telcos & public transport sectors. Squeezing out private operators by the state. In China & Msia i see a few bus operators. Here is either duopoly or tripoly.
An argument i read is how come there are 3 telcos all owned or indirectly owned by the state & competing against each other? Isn't it a waste of resources having 3 sets of board of directors, HR, premises etc etc? Part of it is to 'park' those retired officers from the armed forces there to strengthen its political grip.
State capitalism is not good in long run when is mostly the private sector which is more efficent & innovative compared to state controlled enterprises which is also used as a form of political leverage.