When private firms (or subnational governments) become insolvent, there are normally legal bankruptcy procedures to determine what to do. Without such procedures, a market economy would be unable to function.
当私人企业（或者地区政府）无力偿债之时，一般都会进入法律破产程序去决定如此行动。没有了这些程序，市场经济就无法运作。