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The China Paradox

At the Front Line of Economic Transformation

Paul G. Clifford

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Prof. David Shambaugh, George Washington University: "In this first-hand account based on years of working in China, Paul Clifford takes the reader deep inside the belly of the beast--China's industrial economy state-owned enterprise system. This well-written and engrossing inside account should be read by all China watchers." Prof. Peter Nolan, University of Cambridge: Dr. Clifford is a scholar with a deep knowledge of Chinese history and culture, who entered the business world at a time of dramatic change in China's political economy. His rich business experience in China across a range of industrial sectors combined with his deep scholarly understanding make this a uniquely insightful book. The insights are far more original and interesting than those of other studies in this field. Prof. Edward S. Steinfeld, Brown University: "The China Paradox, while offering an important framing narrative for understanding China's developmental trajectory, explains that narrative through fascinating firm-level examples and case-studies, ones that alone make the book an essential read for anybody trying to understand contemporary China. The China Paradox introduces fresh perspectives just when such new thinking - given the turbulent nature of our present moment globally - is most urgently needed." Prof. Anthony Saich, Harvard University: "Clifford's decades of engagement with China allows him to present the reader with a deeper understanding of the contradictory forces that have made the China of today. Can The China Paradox persist? His sobering analysis of the pros and cons make this a book worth reading for anyone with an interest in China's future trajectory and its potential impact on the world."

Paul G. Clifford, Non-resident Senior Fellow, Harvard Kennedy School, and President, Paul G. Clifford & Associates


Einband Taschenbuch
Seitenzahl 236
Erscheinungsdatum 23.10.2017
Sprache Englisch
ISBN 978-1-5015-1574-3
Reihe De|G Press
Verlag Walter de Gruyter
Maße (L/B/H) 23.6/15.6/1.6 cm
Gewicht 439 g
Abbildungen 10 Schwarz-Weiß- Abbildungen, 2 Schwarz-Weiß- Tabellen
Auflage 1


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  • Chapter 1: The Hybrid Model at the Heart of a Vibrant New China ¿ 1

    Chapter 2: Early Attempts at Industrialization: The Empire and the

    Republic ¿ 9

    Chapter 3: The First Decades of the People's Republic: The Soviet Model

    ... and Worse ¿ 17

    The Fate of China's Capitalists: From Ally to Enemy ¿ 18

    The Dysfunctional Soviet Model Is Embraced ¿ 20

    And Worse ... Beyond the Soviet Model ¿ 26

    The Brutal Assault on Intellectuals and Science ¿ 30

    The Dead End of the Mao Years ¿ 35

    Chapter 4: Wrongs Are Righted, the Reforms Take Shape ¿ 39

    Setting the Boundaries of Change ¿ 46

    The Initial Reforms-Limited and Tentative ¿ 47

    The Reforms Go into a High Gear ¿ 51

    The Reforms Lose Steam (2002 Onward) ¿ 52

    China's Economic Planning Today ¿ 53

    Chapter 5: What to Do with the State-Owned Enterprises? ¿ 57

    Weaning the SOEs Off the State (1978-93) ¿ 57

    Central Planning Fades Away ¿ 60

    Addressing Ownership and Governance (1993-2003) ¿ 62

    Selling off the "Dogs" ¿ 62

    Transforming the Large SOEs ¿ 64

    Can SOE Culture Be Changed? ¿ 72

    SOE Reform Falters (2003 Onward) ¿ 74

    A New Type of SOE Shows the Way Forward ¿ 78

    Chapter 6: The Private Economy Emerges Unannounced ¿ 83

    TVEs-Engine for Growth as the Reforms Took Shape ¿ 84

    POEs Flourish, Especially If Far from the Capital ¿ 87

    Wanxiang-A Pioneering Private Company Forges Its Own

    Path ¿ 88

    Huawei-A Private Firm as "National Champion" ¿ 91

    Private Firms Sustain the Economy ¿ 93

    Chapter 7: Magnet for Foreign Investment ¿ 95

    Why Did China Welcome FDI? ¿ 96

    Why Has China Been so Attractive to Foreign Investors? ¿ 97

    China Has Its Cake and Gets to Eat It, Too ¿ 99

    Win-Win in the Auto Industry ¿ 100

    Why Did China Neglect Logistics and Resist Its "Opening Up" to

    FDI? ¿ 107

    The Motorola Breakthrough ¿ 111

    Why FDI Will Stick with China ¿ 115

    Chapter 8: Business Models at the Heart of China's Emergence ¿ 119

    Model 1. Learn and Catch Up ¿ 119

    Disappointment in Auto and Semiconductor ¿ 121

    The Model Works Well-In Consumer Products, High-Speed Rail,

    and Nuclear Power ¿ 124

    Model 2. Picking off Underperforming Overseas Assets ¿ 129

    Obstacles to China ODI ¿ 130

    Model 3. "China, Inc." in Emerging Markets ¿ 135

    The Government/CCP ¿ 136

    Financial Institutions ¿ 137

    Chinese Firms ¿ 140

    A Little-Known Firm from Anhui Grows in Africa ¿ 141

    Transportation, Mines, and Downstream Industry ¿ 146

    How to Assess the China, Inc. Business Model in Emerging

    Markets ¿ 148

    Model 4. Novel Product or Technology Breakthrough ¿ 149

    Implications for the Emergence of Chinese Firms on the Global

    Stage? ¿ 153

    Chapter 9: What Could Disrupt or Sustain the China Paradox? ¿ 155

    Peace, Stability and the CCP ¿ 155

    The CCP Has Survived and Adapted ¿ 156

    How Well Is the CCP Functioning Today? ¿ 157

    The CCP Is Embedded in Businesses ¿ 159

    China's Fault Lines and Tensions ¿ 161

    The CCP and China's Future ¿ 161

    The Rule of Law ¿ 166

    Culture, Education, and Civil Society ¿ 168

    A Cocktail of Confucianism and Leninism ¿ 169

    Anything Goes, as the Market Latches onto Newfound

    Freedoms ¿ 170

    Corruption, Moral Turpitude, and Social Alienation ¿ 171

    Education Falls Short ¿ 173

    Business Education Flourishes ¿ 175

    Economic and Financial Stability ¿ 175

    Confronting the Environmental Crisis ¿ 179

    The Mega Domestic Market ¿ 181

    Gleaming New Ground Transportation Infrastructure ¿ 181

    Government-Sponsored Research and Development ¿ 182

    The Mobile Handset Example ¿ 186

    China's R&D Results Are Patchy ¿ 188

    Connecting with the Consumer ¿ 190

    Prospects of Deepening Economic Reform? ¿ 192

    Chapter 10: Conclusion ¿ 197

    Endnotes ¿ 207

    Index ¿ 219