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For example, officials, seeking to secure promotions by achieving short-term economic targets, misallocated resources; basic industries such as steel and cement built up vast excess capacity; and bad loans accumulated on the balance sheets of banks and local governments.
Under the socialist system industrialization became one of the principal aims of economic policy, with particular emphasis on basic industries such as electric power, ferrous and nonferrous metallurgy, and chemicals.
Mr McDonald points out that whereas McKinsey has led the "financialisation" of basic industries such as oil and gas, it has had little if any role in shaping the giants of the internet economy, such as Apple and Google.
Chile, for instance, moved from basic industries such as mining, forestry, fishing and agriculture to aluminium smelting, salmon farming and winemaking thanks to a number of government initiatives.Second, policy is least prone to failure when it follows rather than tries to lead the market.
For the last five years Lowe has been concentrating the fund's assets in growth industries, such as technology and pharmaceuticals, and away from basic industries, such as steel.
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More foreign companies are starting to manufacture goods in Russia or to set up basic consumer industries such as food production.
In the first place, improvements in manufacturing have disguised the lack of basic restructuring in other, less competitive industries such as construction and retail.
As the firms come from very different industries such as oil & gas, basic materials, industrials, consumer goods, health care, consumer services, telecommunications, utilities, financials and technology etc., firm fixed effects are also incorporated into the results.
Those are the forces that have prompted the recent consolidation in primary industries such as aluminium, pulp and basic chemicals.In this section French fusion Downcast Apps on tap The difficulty of being a dauphin You've Beanie had Bug?
With commodity prices high, companies' margins are being squeezed: overheated industries such as cars, steel, cement and basic materials are suffering especially.Property prices are also moderating after a period of extraordinary growth, particularly in big cities.
In other industries such as biotech, government support for basic research through grants from the National Institutes of Health, the National Science Foundation, and other agencies enabled the U.S. to become a leader in almost every scientific field.
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