The Rise of the Dragon: Inward and Outward Investment in China in the Reform Period 1978-2007 (Chandos Asian Studies Series)

Kerry Brown

Language: English

Pages: 240

ISBN: 1843344815

Format: PDF / Kindle (mobi) / ePub


Chinese economic reform has been undertaken through a series of phased reforms. The goal of Chinese economic reform was to generate sufficient surplus value to finance the modernization of the mainland Chinese economy. This book provides an assessment of where investment stands today and it's likely future role in China. It reviews China's interaction with the rest of the world as the country advances towards superpower status.

  • Provides and accessible study of both inward and outward investment – not found in other books on China
  • Based on clear case studies while the author worked as an Embassy commercial officer from 2000 to 2003 in China, and then as a consultant for Western companies, and Chinese companies, seeking to implement inward and outward investment plans

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ventures, a tool that meant the Chinese were able to exercise some level of control. Any economic activity that suggested it might carry any sort of political sheen was immediately clamped down on. There were to be no western-style unions, only government authorised, and largely toothless ones. There were to be no politically recognised entrepreneurial classes, and no granting of new political rights to recently empowered social classes that looked remotely like capitalists. 16 A brief history

the tax paid by foreign-invested enterprises (FIEs), this has increased as a proportion of government revenue from 4.25 per cent in 1992 to 20.5 per cent in 2002. On this level at least, investments in China are profitable, and have generated significant capital in their own right, increasing the argument that the main function of foreign investment, 58 Statistics in many ways, has been to supply venture capital funding and political influence. Maybe though, as Geng concludes, round-tripping

neglected political work. 88 China as a destination for foreign direct investment Whether being a Hong Kong based businessperson necessarily gives profound cultural insight into working in China is another matter. In Selling China, Yasheng Huang argues that Hong Kong has in fact worked as a source of venture capital for the mainland, rather than IT or intellectual property.23 Indeed, for every successful Hong Kong project, there have been plenty that failed. Cultural similarity alone is not

Nixon in 1972, when, gradually, the rules were relaxed. With the formal transfer of diplomatic recognition from Taiwan to the PRC in 1979, coinciding with the dawn of the period of opening up and reform, the floodgates were opened. Coca-Cola became the first company, in 1979, to distribute goods in China, even if these 103 The Rise of the Dragon were through hotels and friendship stores, and had to be solely imported. According to US State Department figures, there are now over 20,000 joint

especially apparent when looking at FIEs and their contribution to overall output, and when observing the large stake FIEs hold in the province’s export production. Between 2000 and 2005, Zhejiang’s real GDP has grown by 12.7 per cent on average – in absolute terms, this is a threeand-a-half-fold expansion in total output. The contribution of FDI-funded enterprises to gross output has increased from 18.7 per cent in 2000 to 23.9 per cent in 2005.64 The remarkable fact that roughly one-quarter of

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