As China continues to subsidize inefficient state enterprises on a massive scale, an increasing number of critics - domestic and foreign - are questioning whether current policies mark a rejection or corruption of the vision championed by reformers like Zhu Rongji in the 1990s. Their complaints paint a stark picture of crony-capitalism ossifying to the point where entrenched incumbents become a threat to the future of a prosperous market-oriented China. Are they true?Joining Jeremy Goldkorn to speak about these issues today is James McGregor, former China Bureau Chief for the Wall Street Journal, chief executive of Dow Jones China's business operations, and Chairman of the American Chamber of Commerce. James is also well-known as the author of the book One Billion Customers, and more recently No Ancient Wisdom, No Followers, a in-depth look at the way the Chinese economy has changed over the past several years. Care to subscribe to Sinica via iTunes? Just click on the "Advanced" file menu and select the option "Subscribe to Podcast" from the available choices. When prompted copy the URL http://popupchinese.com/feeds/custom/sinica into the box and you're done. We also encourage all listeners to download the Sinica show as a standalone mp3 file for listening or sharing with friends. Enjoy!