China's Going-Out Party

One of China's poorest provinces, Ningxia, abuts the Gobi desert and enjoys few economic advantages in any commercial field except perhaps the cultivation of watermelons. Yet this hasn't stopped the leaders of the sand-swept region from pressing local companies to invest abroad and establish an international presence. Last month, Ningxia's commerce bureau issued a directive titled "Leading Ningxia's Enterprises to Grasp the Opportunity and Go Out Faster." The document takes into account that leaping into the cutthroat international arena entails certain risks, noting that the vast majority of Ningxia's enterprises that have previously ventured overseas have gone bankrupt, while the remainder...