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Peter Nolan - Chinese Firms, Global Firms: Industrial Policy in the Age of Globalization

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Chinese Firms, Global Firms: Industrial Policy in the Age of Globalization: summary, description and annotation

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China has achieved remarkable, sustained economic growth under the policies of reform and opening up put into place since the late 1970s. Chinas industrial policies have nurtured a large group of firms with high profits and a high market capitalisation. However, few people in the West can name a single Chinese firm. During the modern era of capitalist globalisation firms from the high income countries have spread their business systems across the world. This has presented a profound challenge for industrial policy in developing countries, including even China, the worlds second largest economy. China is unique among large latecomer developing countries in having reached the position of being a huge, fast-growing economy, with a tremendous impact on the rest of the world, but lacking a substantial group of globally competitive firms. This volume explores this paradox. Fully understanding the industrial policy challenge that the era of capitalist globalisation has produced for China is essential for harmonious international relations.

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Chinese Firms Global Firms China has achieved remarkable sustained economic - photo 1
Chinese Firms, Global Firms
China has achieved remarkable, sustained economic growth under the policies of reform and opening up put into place since the late 1970s. Its industrial policies have nurtured a large group of firms with high profits and a high market capitalization. However, few people in the West can name a single Chinese firm. During the modern era of capitalist globalization, firms from the high-income countries have spread their business systems across the world. This has presented a profound challenge for industrial policy in developing countries, including even China, the worlds second-largest economy. China is unique among large latecomer developing countries in having reached the position of being a huge, fast-growing economy, with a tremendous impact on the rest of the world but lacking a substantial group of globally competitive firms. This volume explores this paradox. Fully understanding the industrial policy challenge that the era of capitalist globalization has produced for China is essential for harmonious international relations.
Peter Nolan holds the Chong Hua Chair in Chinese Development and is Director of the Centre of Development Studies, University of Cambridge, UK. He has spoken at the Chinese Governments annual China Development Forum since its inception in 2000. He has testified at the USChina Economic and Security Review Commission of the US Congress and lectured to the Board of the USChina Business Council. He is a member of the UK Governments Asia Task Force. He holds an honorary doctorate from the Copenhagen Business School. He was awarded the CBE (Commander of the Most Excellent Order of the British Empire) for services supporting Chinas integration into the global economy. The Financial Times commented: Nolan knows more about Chinese companies and their international competition than anyone else on earth, including in China.
Routledge Studies on the Chinese Economy
Series Editor
Peter Nolan holds the Chong Hua Chair in Chinese Development and is Director of the Centre of Development Studies, University of Cambridge, UK.
Founding Series Editors
Peter Nolan, University of Cambridge, and Dong Fureng, Beijing University
The aim of this series is to publish original, high-quality, research-level work by both new and established scholars in the West and the East, on all aspects of the Chinese economy, including studies of business and economic history.
1 The Growth of Market Relations in Post-reform Rural China
A micro-analysis of peasants, migrants and peasant entrepreneurs
Hiroshi Sato
2 The Chinese Coal Industry: An Economic History
Elspeth Thomson
3 Sustaining Chinas Economic Growth in the Twenty-First Century
Edited by Shujie Yao and Xiaming Liu
4 Chinas Poor Regions
Rural-urban migration, poverty, economic reform and urbanisation
Mei Zhang
5 Chinas Large Enterprises and the Challenge of Late Industrialization
Dylan Sutherland
6 Chinas Economic Growth
Yanrui Wu
7 The Employment Impact of Chinas World Trade Organisation Accession
A.S. Bhalla and S. Qiu
8 Catch-Up and Competitiveness in China
The case of large firms in the oil industry
Jin Zhang
9 Corporate Governance in China
Jian Chen
10 The Theory of the Firm and Chinese Enterprise Reform
The case of China International Trust and Investment Corporation
Qin Xiao
11 Globalisation, Transition and Development in China
The case of the coal industry
Huaichuan Rui
12 China Along the Yellow River
Reflections on rural society
Cao Jinqing, translated by Nicky Harman and Huang Ruhua
13 Economic Growth, Income Distribution and Poverty Reduction in Contemporary China
Shujie Yao
14 Chinas Economic Relations with the West and Japan, 194979
Grain, trade and diplomacy
Chad J. Mitcham
15 Chinas Industrial Policy and the Global Business Revolution
The case of the domestic appliance industry
Ling Liu
16 Managers and Mandarins in Contemporary China
The building of an international business alliance
Jie Tang
17 The Chinese Model of Modern Development
Edited by Tian Yu Cao
18 Chinese Citizenship
Views from the margins
Edited by Vanessa L. Fong and Rachel Murphy
19 Unemployment, Inequality and Poverty in Urban China
Edited by Shi Li and Hiroshi Sato
20 Globalisation, Competition and Growth in China
Edited by Jian Chen and ShujieYao
21 The Chinese Communist Party in Reform
Edited by Kjeld Erik Brodsgaard and Zheng Yongnian
22 Poverty and Inequality among Chinese Minorities
A.S. Bhalla and Shufang Qiu
23 Economic and Social Transformation in China
Challenges and opportunities
Angang Hu
24 Global Big Business and the Chinese Brewing Industry
Yuantao Guo
25 Peasants and Revolution in Rural China
Rural political change in the North China Plain and theYangzi Delta, 18501949
Chang Liu
26 The Chinese Banking Industry
Lessons from history for todays challenges
Yuanyuan Peng
27 Informal Institutions and Rural Development in China
Biliang Hu
28 The Political Future of Hong Kong
Democracy within Communist China
Kit Poon
29 Chinas Post-Reform Economy Achieving Harmony, Sustaining Growth
Edited by Richard Sanders and Chen Yang
30 Eliminating Poverty Through Development in China
China Development Research Foundation
31 Good Governance in China A Way Towards Social Harmony
Case studies by Chinas rising leaders
Edited by Wang Mengkui
32 China in the Wake of Asias Financial Crisis
Edited by Wang Mengkui
33 Multinationals, Globalisation and Indigenous Firms in China
Chunhang Liu
34 Economic Convergence in Greater China
Mainland China, Hong Kong, Macau and Taiwan
Chun Kwok Lei and ShujieYao
35 Financial Sector Reform and the International Integration of China
Zhongmin Wu
36 China in the World Economy
Zhongmin Wu
37 Chinas Three Decades of Economic Reforms
Edited by Xiaohui Liu and Wei Zhang
38 Chinas Development Challenges
Economic vulnerability and public sector reform
Richard Schiere
39 Chinas Rural Financial System
Households demand for credit and recent reforms
Yuepeng Zhao
40 Sustainable Reform and Development in Post-Olympic China
Edited by ShujieYao, Bin Wu, Stephen Morgan and Dylan Sutherland
41 Constructing a Developmental Social Welfare System for All
China Development Research Foundation
42 Chinas Road to Peaceful Rise
Observations on its cause, basis, connotation and prospect
Zheng Bijian
43 China as the Workshop of the World
An analysis at the national and industry level of China in the international division of labor
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