Many times when things are not exactly going the way one imagined, bigger corporate entities are being created. I have seen few national champions resulting from such concentration that were well-led. In fact, if the subunits were badly led or had other fundamental problems, those tended to inflate in the bigger unit. More opportunity to hide the bad apples. A single bad apple can spoil the entire barrel – but the entire rest of the barrel could not possibly fix the bad apple. Better leave the good ones in place and cut the bad ones down.
While Beijing keeps a rare-earth export ban in its ‘back pocket’, China is looking to consolidate control over the mining of these crucial metals by creating a new state-owned giant