Description
China's stunning growth rates have corresponded with the rise of 'state capitalism'. Since the mid-2000s, China's political economy has stabilized around a model where most sectors are marketized and increasingly integrated with the global economy; yet strategic industries remain firmly in the grasp of an elite empire of state-owned enterprises. What are the implications of state capitalism for industrial competitiveness, corporate governance, government-business relations, and domestic welfare? How does China's model of state capitalism compare with other examples of state-directed development in late industrializing countries? As China enters a phase of more modest growth, it is especially timely to understand how its institutions have adapted to new challenges and party-state priorities. In this volume, leading scholars of China's economy, politics, history, and society explore these compelling issues.
Table of Contents
1. Introduction: state capitalism and the Chinese economic miracle Kellee S. Tsai and Barry Naughton; Part I. Evolution of the State Sector: 2. State-owned business and party-state regulation in China's modern political economy Margaret M. Pearson; 3. The transformation of the state sector: SASAC, the market economy, and the new national champions Barry Naughton; Part II. Outcomes and Processes: 4. Stability, asset management, and gradual change in China's reform economy Doug Guthrie, Zhixing Xiao and Junmin Wang; 5. The emergence and evolution of Chinese business groups: are pyramidal groups forming? Dylan Sutherland and Ning Lutao; 6. Competition and upgrading in Chinese industry Loren Brandt and Eric Thun; Part III. The Big Picture: Historical, Social, and Systemic Perspectives: 7. Explaining the dynamics of change: transformation and evolution of China's public economy through war, revolution, and peace, 1928–2008 Morris L. Bian; 8. The evolution of a welfare state under China's state capitalism Mark W. Frazier; 9. Did China follow the East Asian development model? Andrea Boltho and Maria Weber.
