Understanding a Changing China: Key Issues for Business

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