Subsidies To Chinese Industry State Capitalism Business Strategy And Trade Policy

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Subsidies to Chinese Industry

Usha C.V. Haley,George T. Haley
Subsidies to Chinese Industry Book PDF

Author : Usha C.V. Haley,George T. Haley
Publisher : Oxford University Press
Page : 272 pages
File Size : 54,6 Mb
Release : 2013-03-27
Category : Business & Economics
ISBN : 9780199339785

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Subsidies to Chinese Industry by Usha C.V. Haley,George T. Haley Pdf

How did China move so swiftly in capital-intensive industries without labor-cost or scale advantage from bit player to the largest manufacturer and exporter in the world? This book argues that subsidies contributed significantly to China's success. Industrial subsidies in key Chinese manufacturing industries may exceed thirty percent of industrial output. Economic theories have mostly portrayed subsidies as distortive, inefficiently reallocating resources according to non-market criteria. However, China's state-capitalist regime uses subsidies to promote the governments' and the Communist Party of China's interests. Rather than aberrations, subsidies help Chinese businesses and governments produce, stabilize and create common understandings of markets; the flows of capital reflect struggles between critical Chinese actors including central and provincial governments. Concepts of state capitalism including market-transition theory, the multi-organizational Chinese state, and state as paramount shareholder, create complex and relevant understandings of Chinese subsidies. The authors develop independent measures of industrial subsidies using publicly-reported data at firm and industry levels from governmental and private sources. Subsidies include free to low-cost loans, subsidies to energy (coal, electricity, natural gas, heavy oil) and to key inputs, land and technology. Four sequential studies identify the growth of subsidies to Chinese manufacturing over time and effects on world industry: steel (2000-2007), glass (2004-2008), paper (2002-2009) and auto parts (2001-2011). Subsidies to Chinese industry affect and are affected by business strategy and trade policy. Business strategies include lobbying for subsidies and for protection from subsidized foreign competitors and managing supply chains to guard against whiplash effects of uncoordinated subsidies. The subsidized solar industry highlights how global business strategies and decisions on production location and technology development respond to production or consumption subsidies and include market (competitive) and non-market (political) strategies. The book also covers government policies and regulation on subsidies broadly focusing on domestic consumption (antidumping and countervailing duties) and domestic production (indigenous innovation).

Subsidies to Chinese Industry

Usha C. V. Haley,George T. Haley
Subsidies to Chinese Industry Book PDF

Author : Usha C. V. Haley,George T. Haley
Publisher : Unknown
Page : 233 pages
File Size : 43,9 Mb
Release : 2013
Category : Capitalism
ISBN : 0199332576

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Subsidies to Chinese Industry by Usha C. V. Haley,George T. Haley Pdf

How did China move swiftly in capital-intensive industries without labor-cost or scale advantage from bit player to largest manufacturer and exporter? This book argues that industrial subsidies contributed significantly. Economic theories have portrayed subsidies as distortive, inefficiently reallocating resources according to non-market criteria. However, China's state-capitalist regime uses subsidies to promote the governments' and the Communist Party of China's interests. Rather than aberrations, subsidies help Chinese businesses, central and provincial governments produce, stabilize and create common understandings of markets. Concepts of state capitalism include market-transition theory, the multi-organizational Chinese state, and state as paramount shareholder. The authors measure subsidies using publicly-reported data at firm and industry levels from governmental and private sources. Subsidies include free to low-cost loans, subsidies to energy (coal, electricity, natural gas, heavy oil) and to key inputs, land and technology. Four sequential studies identify the growth and effects of subsidies to Chinese manufacturing over time: steel (2000-2007), glass (2004-2008), paper (2002-2009) and auto parts (2001-2011). Subsidies to Chinese industry affect and are affected by business strategy and trade policy. Business strategies include lobbying for subsidies and protection from subsidized foreign competitors, and managing supply chains to guard against whiplash effects of uncoordinated subsidies. The solar industry highlights how decisions on production location and technology development respond to production or consumption subsidies and include market (competitive) and non-market (political) strategies. The book also covers government policies and regulation on subsidies broadly focusing on domestic consumption (antidumping and countervailing duties) and domestic production (indigenous innovation).

U.S. Tools to Address Chinese Market Distortions - Trump Administration Tariffs, Response to Chinese State Capitalism Industrial Policy Subsidies, Investment Restrictions, IP Theft, WTO Disputes

Senate of the United States of America,U S - China Security Review Commission,U S Government
U S Tools to Address Chinese Market Distortions Trump Administration Tariffs Response to Chinese State Capitalism Industrial Policy Subsidies Investment Restrictions IP Theft WTO Disputes Book PDF

Author : Senate of the United States of America,U S - China Security Review Commission,U S Government
Publisher : Unknown
Page : 210 pages
File Size : 53,8 Mb
Release : 2019-07-13
Category : Electronic
ISBN : 1080392688

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U.S. Tools to Address Chinese Market Distortions - Trump Administration Tariffs, Response to Chinese State Capitalism Industrial Policy Subsidies, Investment Restrictions, IP Theft, WTO Disputes by Senate of the United States of America,U S - China Security Review Commission,U S Government Pdf

This important report compilation contains the testimony of eight renowned experts at a hearing in 2018 exploring U.S. policy options available to address Chinese market distortions. The first panel, "A Coordinated Policy Response to Chinese State Capitalism," addressed industrial policy challenges like subsidies, price distortions, and investment restrictions. The second panel, "A Coordinated Policy Response to China's Techno-nationalism," focused on challenges from China's push to develop domestic-led intellectual property, including technology transfer, IP or data theft, and restrictions on cross-border data flows.Panel I: A Coordinated Policy Response to Chinese State Capitalism * 1. Chad Bown, Ph.D. Reginald Jones Senior Fellow, Peterson Institute for International Economics; former Senior Economist for International Trade and Investment, White House Council of Economic Advisors * 2. Linda Dempsey VP, International Affairs and Economic Policy, National Association of Manufacturers * 3. Celeste Drake, Trade and Globalization Policy Specialist, AFL-CIO * 4. Jennifer A. Hillman, Professor from Practice, Georgetown Law School; former Member, WTO Appellate Body * Panel II: A Coordinated Policy Response to China's Techno-nationalism * 5. Lee Branstetter, Ph.D. Professor of Economics and Public Policy, Carnegie Mellon University; former Senior Economist for International Trade and Investment, President's Council of Economic Advisors * 6. Mark Cohen, Head of the Asia IP Project, University of California at Berkeley; former Senior Counsel, U.S. Patent and Trademark Office * 7. Willy Shih, Ph.D., Robert and Jane Cizik Professor of Management Practice in Business Administration, Harvard Business School * 8. Graham Webster, China Digital Economy Fellow at New America; Senior Fellow, Paul Tsai China Center at Yale Law SchoolThe circumstances certainly surrounding China's accession to the WTO were distinctive if not unique. China acceded on the grounds it wouldn't immediately comply with all requirements but would increasingly be able to do so over time. Prior to its accession, China had enacted sweeping and painful reforms to state-owned enterprises. And its leadership used the WTO to expand China's integration with global markets and devolve government control in many industries.But those positive circumstances have changed. China's President Xi Jinping has called for renewed centralization of economic and political authority under the government and the Party, writing that "East, West, North, or South, the Party leads everything." Though the global economy has been driven in part by China as a growth engine, the Chinese government continues to use tariff and non-tariff barriers, like investment restrictions and government subsidies, to block access to China's domestic market and tilt the playing field in favor of Chinese companies. These barriers are actually compounded by two imperatives for Chinese leadership. First, they seek to promote China's economic transition to higher value-added industries, requiring technological innovation to boost wages and productivity. Now, in theory, this would entail firm investments in R&D and government support for scientific research, education, and human capital. In practice, it's often incorporated theft of foreign intellectual property, cyber espionage, and requests to transfer technology at the expense of American and other foreign companies. Second, the Chinese government has published targets encouraging domestic companies to be internationally competitive, not only in low-cost manufacturers but in more sophisticated products and services. And Chinese government subsidies that have led to steel overcapacity may lead to high export volumes of electric cars, of lithium-ion batteries, and semiconductors.

Between Market Economy and State Capitalism

Henry Gao,Weihuan Zhou
Between Market Economy and State Capitalism Book PDF

Author : Henry Gao,Weihuan Zhou
Publisher : Cambridge University Press
Page : 225 pages
File Size : 47,5 Mb
Release : 2022-11-30
Category : Business & Economics
ISBN : 9781108830065

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Between Market Economy and State Capitalism by Henry Gao,Weihuan Zhou Pdf

The WTO provides tools to address China's state capitalism and should be the preferred forum for negotiations on SOE's and industrial subsidies.

An Analysis of State-Owned Enterprises and State Capitalism in China

Andrew Szamosszegi,Cole Kyle
An Analysis of State Owned Enterprises and State Capitalism in China Book PDF

Author : Andrew Szamosszegi,Cole Kyle
Publisher : Createspace Independent Publishing Platform
Page : 122 pages
File Size : 47,7 Mb
Release : 2011-10-26
Category : Capitalism
ISBN : 1475293259

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An Analysis of State-Owned Enterprises and State Capitalism in China by Andrew Szamosszegi,Cole Kyle Pdf

China's breathtaking economic growth, has often led observers to assume that the country's economic system has been transformed into a capitalist economy dominated by private enterprise. Although China's reliance on private enterprise and market-based incentives has been growing, and the CCP's treatment of private enterprises and entrepreneurs has been changing, it would be a mistake to minimize the current role of the State and the CCP in shaping economic outcomes in China and beyond. The Chinese government and state-owned enterprises (SOEs) remain potent economic forces. Indeed, some of China's SOEs are among the largest firms in China and the world. They are major investors in foreign countries. They have been involved in some of the largest initial public offerings in recent years and remain the controlling owners of many major firms listed on Chinese and foreign stock exchanges.

State and Market in Contemporary China

Scott Kennedy
State and Market in Contemporary China Book PDF

Author : Scott Kennedy
Publisher : Rowman & Littlefield
Page : 69 pages
File Size : 41,8 Mb
Release : 2016-03-22
Category : Political Science
ISBN : 9781442259447

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State and Market in Contemporary China by Scott Kennedy Pdf

The short essays in this volume, contributed by leading experts on Chinese economic policy, provide crisp and insightful analyses of the Chinese state's approach toward markets, the role of key actors and institutions, the evolving nature of industrial policy and the effectiveness of China’s international commitments to constrain such practices, and a preview of the likely contents and significance of China’s 13th Five-Year Plan.

The Belt Road and Beyond

Min Ye
The Belt Road and Beyond Book PDF

Author : Min Ye
Publisher : Cambridge University Press
Page : 269 pages
File Size : 54,6 Mb
Release : 2020-03-05
Category : Business & Economics
ISBN : 9781108479561

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The Belt Road and Beyond by Min Ye Pdf

This investigation uses state-mobilized globalization as a framework to understand China's capitalism and emergence as a global power.

China's Economic Rise

Congressional Research Service
China s Economic Rise Book PDF

Author : Congressional Research Service
Publisher : Createspace Independent Publishing Platform
Page : 52 pages
File Size : 51,8 Mb
Release : 2017-09-17
Category : Electronic
ISBN : 1976466954

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China's Economic Rise by Congressional Research Service Pdf

Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.

State Capitalism

Joshua Kurlantzick
State Capitalism Book PDF

Author : Joshua Kurlantzick
Publisher : Oxford University Press
Page : 296 pages
File Size : 43,7 Mb
Release : 2016-03-08
Category : Political Science
ISBN : 9780199385713

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State Capitalism by Joshua Kurlantzick Pdf

The end of the Cold War ushered in an age of American triumphalism best characterized by the "Washington Consensus:" the idea that free markets, democratic institutions, limitations on government involvement in the economy, and the rule of law were the foundations of prosperity and stability. The last fifteen years, starting with the Asian financial crisis, have seen the gradual erosion of that consensus. Many commentators have pointed to the emergence of a powerful new rival model: state capitalism. In state capitalist regimes, the government typically owns firms in strategic industries. Not beholden to private-sector shareholders, such firms are allowed to operate with razor-thin margins if the state deems them strategically important. China, soon to be the world's largest economy, is the best known state capitalist regime, but it is hardly the only one. In State Capitalism, Joshua Kurlantzick ranges across the world--China, Thailand, Brazil, Russia, South Africa, Turkey, and more--and argues that the increase in state capitalism across the globe has, on balance, contributed to a decline in democracy. He isolates some of the reasons for state capitalism's resurgence: the fact that globalization favors economies of scale in the most critical industries, and the widespread rejection of the Washington Consensus in the face of the problems that have plagued the world economy in recent years. That said, a number of democratic nations have embraced state capitalism, and in those regimes, state-backed firms like Brazil's Embraer have enjoyed considerable success. Kurlantzick highlights the mixed record and the evolving nature of the model, yet he is more concerned about the negative effects of state capitalism. When states control firms, whether in democratic or authoritarian regimes, the government increases its advantage over the rest of society. The combination of new technologies, the perceived failures of liberal economics and democracy in many developing nations, the rise of modern kinds of authoritarians, and the success of some of the best-known state capitalists have created an era ripe for state intervention. State Capitalism offers the sharpest analysis yet of what state capitalism's emergence means for democratic politics around the world.

Taiwan and China

Lowell Dittmer
Taiwan and China Book PDF

Author : Lowell Dittmer
Publisher : Univ of California Press
Page : 320 pages
File Size : 53,6 Mb
Release : 2017-09-26
Category : History
ISBN : 9780520295988

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Taiwan and China by Lowell Dittmer Pdf

At publication date, a free ebook version of this title will be available through Luminos, University of California Press’s Open Access publishing program. Visit www.luminosoa.org to learn more. China’s relation to Taiwan has been in constant contention since the founding of the People’s Republic of China in October 1949 and the creation of the defeated Kuomintang (KMT) exile regime on the island two months later. The island’s autonomous sovereignty has continually been challenged, initially because of the KMT’s insistence that it continue to represent not just Taiwan but all of China—and later because Taiwan refused to cede sovereignty to the then-dominant power that had arisen on the other side of the Taiwan Strait. One thing that makes Taiwan so politically difficult and yet so intellectually fascinating is that it ­­is not merely a security problem, but a ganglion of interrelated puzzles. The optimistic hope of the Ma Ying-jeou administration for a new era of peace and cooperation foundered on a landslide victory by the Democratic Progressive Party, which has made clear its intent to distance Taiwan from China’s political embrace. The Taiwanese are now waiting with bated breath as the relationship tautens. Why did détente fail, and what chance does Taiwan have without it? Contributors to this volume focus on three aspects of the evolving quandary: nationalistic identity, social economy, and political strategy.

China, Inc

Ted C. Fishman
China Inc Book PDF

Author : Ted C. Fishman
Publisher : Simon and Schuster
Page : 364 pages
File Size : 46,5 Mb
Release : 2005
Category : Business & Economics
ISBN : 0743257529

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China, Inc by Ted C. Fishman Pdf

What will happen when China can make nearly everything the U.S. and Europe can make--at one-third the cost? Fishman delves into dangerous question that not everyone wants answered.

Reforming WTO Rules on State-Owned Enterprises

Yingying Wu
Reforming WTO Rules on State Owned Enterprises Book PDF

Author : Yingying Wu
Publisher : Springer
Page : 265 pages
File Size : 44,7 Mb
Release : 2019-01-28
Category : Law
ISBN : 9789811335617

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Reforming WTO Rules on State-Owned Enterprises by Yingying Wu Pdf

This book argues that the trade-distorting effects of advantages associated with SOEs are more severe from an economic perspective, and the behavior of SOEs after receiving advantages is of more concern, compared to private-owned enterprises (POEs). The premise is that the existence of SOEs per se is not the essential problem; rather, the underlying problems are (i) the disproportionate granting of advantages to SOEs (compared to POEs) and (ii) the behavior of SOEs once they receive advantages. The book offers a systematic analysis focusing on the various advantages granted to SOEs and their subsequent behavior. Its detailed analysis reveals the inadequacy of current WTO rules and is complemented by a number of concrete proposals.

State Capitalism, Institutional Adaptation, and the Chinese Miracle

Barry Naughton,Kellee S. Tsai
State Capitalism Institutional Adaptation and the Chinese Miracle Book PDF

Author : Barry Naughton,Kellee S. Tsai
Publisher : Cambridge University Press
Page : 297 pages
File Size : 55,7 Mb
Release : 2015-06-09
Category : Business & Economics
ISBN : 9781107081062

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State Capitalism, Institutional Adaptation, and the Chinese Miracle by Barry Naughton,Kellee S. Tsai Pdf

This volume explores how Chinese institutions have adapted to the new challenges of 'state capitalism'.

Contemporary Capitalism and Civil Society

Toshio Yamada
Contemporary Capitalism and Civil Society Book PDF

Author : Toshio Yamada
Publisher : Springer
Page : 225 pages
File Size : 41,9 Mb
Release : 2018-08-15
Category : Political Science
ISBN : 9789811305177

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Contemporary Capitalism and Civil Society by Toshio Yamada Pdf

This book is devoted to analyzing contemporary capitalism both in Japan and in the world economy by using the theoretical framework of the French régulation theory and by revisiting the theory of civil society in postwar Japan. The Japanese theory of civil society proposed unique thinking about “freedom and equality” and “human rights” in the postwar era but could not help to come up with effective concepts for an economic analysis of that capitalism of the period. On the other hand, the régulation theory born in the 1970s is well known by its definition of postwar capitalism as Fordism, based on the elaboration of a new conceptual framework, but it soon proved unable to directly explain Japan’s experience by that central concept of Fordism. Inspired by consideration of Japanese civil society and also by the regulationist framework, the author has forged new analytical concepts such as “companyism” to understand Japanese capitalism including the recent “lost decades”, and he elaborates more carefully the concepts of “growth regime” and “institutional change” to grasp the dynamics of the world economy including today’s neoliberal trend. The original benefits of the book consist in 1) reviving a Japanese theory of civil society in the postwar period, 2) applying the régulation theory to the analysis of contemporary Japan, and 3) offering theoretical reflections on the conception of the world economy. Consequently, the author pays special attention to the relationship between the political and the economic as well as regulationist tools and the theory of civil society’s perspective. The principal message of the book is that capitalism or the market economy must be supported by a sound civil society.

Regulating the Visible Hand?

Benjamin L. Liebman,Curtis J. Milhaupt
Regulating the Visible Hand Book PDF

Author : Benjamin L. Liebman,Curtis J. Milhaupt
Publisher : Oxford University Press, USA
Page : 481 pages
File Size : 41,5 Mb
Release : 2016
Category : Business & Economics
ISBN : 9780190250256

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Regulating the Visible Hand? by Benjamin L. Liebman,Curtis J. Milhaupt Pdf

This text examines the domestic and global consequences of Chinese state capitalism, focusing on the impact of state-owned enterprises on regulation and policy, while placing China's variety of state capitalism in comparative perspective.