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Rather, analysts believe JB Hi-Fi and Bing Lee are more likely to cherry-pick the best stores, leaving Woolworths to bear the cost of closing down undesirable stores and exiting leases. This suggests Woolworths may consider selling a partial stake in the business or the sale of some stores. Mid-market private equity firm The Growth Fund has taken delivery of a controlling equity stake in global freight broker AFS Logistics. Skip to navigation Skip to content Skip to footer Help using this website - Accessibility statement. Street Talk Print article. Sarah Thompson and Anthony Macdonald.

Feudalism was abolished, new taxation and coinage systems established, and Western infrastructure and institutions, such as banks and railways, adopted (Storry, 1960). China implemented Western innovations and attempted to modernize as well, starting after the suppression of the Taiping rebellion in 1864. Therefore, modernization in China occurred only at a very superficial level (Edwardes, 1973). Japan, on the other hand, went so far as to change its political system by employing a Constitution that gave legislative powers to an Imperial Diet. Being the biggest, most powerful country in its region had given China the belief that it was the center of civilization.

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