The U.S. Trade Representative’s Office just released a list of so-called notorious markets where counterfeit and pirated goods are sold. Notably, many are in countries like Russia and China where state-owned enterprises (SOE’s) are also dominant. SOE’s pose an unfair challenge for private companies that are forced to compete against them. Most nations operate SOE’s, most typically performing functions deemed most precious by their consumers/citizens, or simply politically entrenched based on legacy. SOE’s are engaged in transportation, energy, telecommunications, energy, defense, health care and liquor. The pluses and minuses of such enterprises are well recognized – they typically offer lower prices for...