Paper delivered to the China Telecoms conference, organized by AIC Conferences, 10-11th March 1994.
In a genuinely free market, prices are signals of supply and demand. In the PRC, prices have traditionally been signals of political decisions governing the allocation of resources. Thus, telecommunications tariffs have only undergone two major changes since 1958, and for most of that period costs have been determined by similarly administered prices of inputs.
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Photo by Adi Constantin
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