Subsidies to Chinese Industry: State Capitalism, Business Strategy, and Trade Policy

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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 ...

Subsidies to Chinese Industry: State Capitalism, Business Strategy, and Trade Policy 2013, Oxford University Press, USA

ISBN-13: 9780199773749

Hardcover

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