Understanding a Changing China: Key Issues for Business

Description

With China's continued growth and engagement with every continent, to understand the key issues shaping this country's business environment and the behaviour of Chinese business people becomes increasingly difficult especially when important issues are contested. Is China really the biggest economy in the world? This and several more issues are often misconstrued in the media and heavily influenced by partisan interpretations. However, there is also the well-researched and well-argued analyses in academic literature and business press, reaching diametrically opposite conclusions. This book provides a thoughtful, thorough, and even-handed overview and analysis of the key issues that shape the threats and opportunities arising from China's development in the next decade. By building on existing academic foundation, it provides readers with conceptual tools and evidence needed to understand and make sound judgement as China continues to evolve and increase its sphere of economic and business influence in Eurasia. Understanding a changing china- Front Cover Understanding a changing china Title Page Copyright Page Dedication Contents List of figures List of tables Chapter 1: From ancient civilization through humiliation to powerhouse The ancient power From greatness to stagnation The Needham Question: why did China fall behind? China’s Century of Humiliation The struggle against Japan Victory for the CCP, land reform, the command economy and policy disasters The dragon awakes: China’s re-ascent The relevance of China’s past for today References Chapter 2: China’s miracle, China’s tensions – the four “izations” Industrialization and its consequences Urbanization Marketization: from iron rice bowl and the plan to markets for everything Globalization: everything in Walmart comes from China! References Chapter 3: China’s strategy for development: from “crossing the river by feeling the stones” to “revving up the consumer” Antecedents of the 1970s reforms The Deng reform era Economic reforms as waves 1989 and its aftermath: the legacy of Deng and beyond A new reality under Xi Jinping: the “new normal” and becoming a three-legged economy References Chapter 4: Chinese culture, guanxi and their consequences Confucianism The comparative approach to culture: China’s position on multiple dimensions Guanxi: the one Chinese word every foreigner knows A cautionary note on culture References Chapter 5: Enterprise reform and Chinese firms today Alternative perspectives on the Chinese firm How many firms in China, and of what type? The “firm” in the command economy Township and village enterprises: privatization in the countryside The state-owned enterprise: zombie, national champion or what? Private enterprises and entrepreneurship in China Two kinds of foreign investors: the role of overseas Chinese versus multinationals What is the Chinese firm today? References Chapter 6: Technology development in China Opposing views on China’s technology development Does China need “indigenous innovation”? Is China capable of indigenous innovation? The place of technology import in China’s innovation process Innovation, culture and thinking processes: creativity and the Chinese person Conclusions on China’s technology development References Chapter 7: The end of “Cheap China”? Introduction China’s competitiveness and structure: international comparisons Breaking down China’s productivity: a structural shift towards a productivity imperative The double aspect of China’s internal productivity gap Has China reached its Lewis turning point? Walking a tightrope: labour and manufacturing cost vs. productivity and value added Conclusion References Chapter 8: Behemoths, shadows and casinos: the financial system China’s financial markets roil the world The purpose and components of the financial system Behemoths: China’s banks Policy banks and asset management companies Shadows: the informal financial sector Bond markets in China The insurance sector Equity markets: casinos in Shenzhen and Shanghai The regulatory framework Internationalization and convertibility of the RMB Government and finance References Chapter 9: Entry strategies for the Chinese market: is the joint venture dead? Background JVs and WOFEs: joint ventures and wholly owned foreign enterprises The historical and institutional background Sino-foreign JVs: the importance of market entry barriers Sino-foreign JVs: a foot-in-the-door strategy or smart business? Failures of Sino-foreign JVs: the Wahaha effect or timing out? Success factors for JVs WOFEs: one bed, one dream Conversion of JVs into WOFEs The future of the JV References Chapter 10: The “two billion socks” syndrome: marketing to China’s diverse markets Simple dream, complex reality Social divides and their marketing implications Chinese culture, philosophy and consumer behaviour: essentials for marketing Consumer behaviour and patterns of demand A changing landscape: trends to watch out for References Chapter 11: Ethics, corruption and sustainable development Business ethics in China Corruption in China Towards sustainable development References Chapter 12: Managing and leading people in China The unskilled/skilled divide: scarcity amid plenty Recruiting, selecting and retaining workers and managers Managing for performance in China: can Western approaches be effective? Leadership in China References Chapter 13: The challenge from China: how serious? Introduction China’s rise in context The economics of world order: the limits of zero-sum logic China and the world order: from geopolitics to tian xia and international security Global value chains and regional production networks: the China effect Chinese firms: are they a threat or not? So how serious is the challenge from China? References Chapter 14: Will it end in tears? Permabears and Panda-lovers Can an authoritarian system survive? Does China have enough growth and will it be of the right kind? Will debt bring the economy down? What about ghost cities and a property crash? Will corruption lead to social unrest? Pollution and environmental disaster Could a trade war with the US trigger a crisis in China? So will it end in tears? References Index