By Dan Breznitz
Few observers are unimpressed by way of the industrial ambition of China or through the nation's notable expense of progress. yet what does the longer term carry? This meticulously researched ebook heavily examines the strengths and weaknesses of the chinese language financial system to find the place the state will be headed and what the chinese language event finds approximately rising marketplace economies. The authors locate that opposite to well known trust, state-of-the-art innovation isn't a prerequisite for sustained fiscal vitality-and that China is an ideal for instance.
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Extra info for Run of the Red Queen: Government, Innovation, Globalization, and and Economic Growth in China
Example text
Finally, the Pearl River Delta built its regional innovation and industrial system seemingly out of nothing. Since it lacked a large existing industrial base or an educational and research infrastructure, the region utilized investment from Hong Kong and overseas Chinese to build export-oriented production facilities. At the same time, local entrepreneurs used this industrial base to set up companies oriented toward the domestic market, conquering China’s hinterlands with rugged low-cost technologies.
Foxconn is one of Taiwan’s largest private companies and the largest high-tech exporter in China. Apart from its gargantuan operation in Shenzhen, Foxconn employs another 200,000 workers at other sites in China. Foxconn’s business strategy is built 15 16 The White Knight Avoided around the unique capabilities of the Chinese IT industry. For its development and operations in mainland China, Taiwanese ownership matters much less than the capabilities existing and developed in China that are not easily transferable.
9 Scholars studying the emergence of China as an economic power since the 1980s have attributed much of its success to the decentralization of economic decision making, namely, the center allowing market forces a greater role in the allocation of goods (Chien 2007; Montinola et al. 1995; Naughton 1995; Qian and Weingast 1996; Shirk 1993; Weingast 1995; Xu and Zhuang 1998). Building upon the legacy of local planning from the Mao era, reformers gradually increased the authority of local officials, albeit in a piecemeal manner, to experiment, approve projects, and seek foreign investment.