By Scott Kennedy
This e-book breaks new flooring by way of systematically interpreting China's capitalist transformation via numerous comparative lenses. the nice majority of analysis on China thus far has consisted of single-country experiences. this can be the results of the methodological calls for of learning China and a feeling of the country's specialty as a result of its grand measurement and lengthy background. The moniker center country, an immediate translation of the Chinese-language observe for China, is likely one of the such a lot renowned symbols of the country's meant uniqueness.Composed of contributions from best experts on China's political economic climate, this quantity demonstrates some great benefits of systematically evaluating China with different nations, together with France, Russia, Japan, South Korea, Indonesia, India, Brazil, and South Africa. Doing so places the People's Republic in a mild no longer to be had via different methods, and it offers an opportunity to contemplate political theories by means of together with an incredible case too usually passed over of reports.
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Extra resources for Beyond the Middle Kingdom: Comparative Perspectives on China's Capitalist Transformation (Contemporary Issues in Asia and Pacific)
The second half of this chapter has two goals. 35 These countries share both ideological and institutional features that limit the independent authority of new regulatory agencies. As a result, in some strikingly similar ways all deviate substantially from the Anglo-American ideal of the market-enhancing independent regulator. Second, the discussion highlights the differences that remain in China’s economic system that, stated bluntly, cause its top tiers to remain much closer to state socialism than the other countries considered—despite substantial reform over the past twenty-five years.
The model not only places the state at the center of the action, it tolerates substantial government intervention to structure markets, often in favor of particular firms whose failure would impose unacceptable social costs. With regard to Japan in particular, while the country has made significant reforms, it has been widely concluded that these reforms have not significantly reduced the government’s control over business. 37 Comparison with France is also apt. 40 This is the case, for example, in the French telecommunications sector, which retains significant state ownership or control.
The NDRC was the dominant voice in deciding which companies should become “national champions” and which should merge. There is an implicit recognition with regard to the auto industry that, while it makes sense to have the government structure the industry and supervise assets, these industries should be given more leeway. Why? Three factors are important. First, in contrast to the industries in the first tier, the government has recognized that the auto sector could not succeed without being integrated into the global supply chain and without joint ventures.
Beyond the Middle Kingdom: Comparative Perspectives on China's Capitalist Transformation (Contemporary Issues in Asia and Pacific) by Scott Kennedy