China and the global economy : national champions, industrial policy, and the big business revolution

This book tells the story of China's emergence as a major economic power and the huge impact this will have on world business. Over the last five years Peter Nolan has conducted a major investigation into Chinese industry, its economic structure, and the opportunities for growth in the future. As one of just four world experts invited by the Chinese Government to consult on their application to joint the World Trade Organisation he has worked closely with the heads of Chinese industry and with many foreign multinationals operating in China. China and the Global Economy is an executive summary of the opportunities for business in one of the largest markets in the world, by one passionate about its possibilities for the future. Cover......Page 1 Contents......Page 8 List of Tables......Page 10 Preface......Page 12 Part 1 China’s ambitions: Building the ‘national team’......Page 14 Introduction......Page 15 1.1 Lessons from historical experience......Page 16 1.2 Building the ‘national team’......Page 29 1.3 Case studies......Page 33 1.4 Internal difficulties in building the ‘national team’......Page 96 Conclusion......Page 107 Part 2 The challenge of the global big business revolution......Page 108 2.1 General features of the business revolution......Page 110 2.2 Consolidation in selected sectors during the business revolution......Page 119 2.3 The ‘external firm’: an ever-larger sphere of co-ordination and planning......Page 132 2.4 Inequality in the regional distribution of firms that lead the business revolution......Page 135 2.5 Revolutionary change in business systems outside the US......Page 139 2.6 The third technological revolution......Page 147 2.7 The global revolution in financial services......Page 157 Conclusion......Page 164 Part 3 China enters the WTO: Choices and prospects......Page 170 3.1 Can large Chinese firms compete on the global level playing field?......Page 172 3.2 Strengthening China’s industrial policy?......Page 202 3.3 China joins the WTO: abandoning industrial policy?......Page 208 3.4 Prospects(i): The ‘optimistic’ view......Page 223 3.5 Prospects(ii): The shock of defeat......Page 228 3.6 Prospects(iii): An alternative outcome?......Page 236 Recommended reading......Page 246 Index......Page 248 This text tells the story of China's emergence as a major economic power and the huge impact this will have on world business. Since 1995 Peter Nolan has conducted a major investigation into Chinese industry, its economic structure, and the opportunities for growth in the future. As one of just four world experts invited by the Chinese Government to consult on their application to join the World Trade Organisation he has worked closely with the heads of Chinese industry and with many foreign multinationals operating in China. This book is an executive summary of the opportunities for business in one of the largest markets in the world, by one passionate about its possibilities for the future This Text Tells The Story Of China's Emergence As A Major Economic Power And The Impact This Will Have On World Business. It Is An Executive Summary Of The Opportunities For Business In One Of The Largest Markets In The World. List Of Tables -- Preface -- Part 1. China's Ambitions : Building The 'national Team' -- Part 2. The Challenge Of The Global Big Business Revolution -- Part 3. China Enters The Wto : Choices And Prospects -- Recommended Reading -- Index. Peter Nolan. Includes Bibliographical References (p. 233-234) And Index. The debate about the transition from the Communist system of political economy has been intense.