By Scott Kennedy
This booklet breaks new floor by way of systematically studying China's capitalist transformation via a number of comparative lenses. the nice majority of analysis on China up to now has consisted of single-country stories. this can be the results of the methodological calls for of learning China and a feeling of the country's specialty because of its grand dimension and lengthy historical past. The moniker heart state, an instantaneous translation of the Chinese-language be aware for China, is among the so much sought after symbols of the country's intended uniqueness.Composed of contributions from top experts on China's political economic system, this quantity demonstrates the advantages of systematically evaluating China with different nations, together with France, Russia, Japan, South Korea, Indonesia, India, Brazil, and South Africa. Doing so places the People's Republic in a mild no longer on hand via different methods, and it presents an opportunity to contemplate political theories via together with an incredible case too frequently passed over of reviews.
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Additional info for Beyond the Middle Kingdom: Comparative Perspectives on China's Capitalist Transformation (Contemporary Issues in Asia and Pacific)
Outside of China, privatization movements that swept Europe, Latin America, and East Asia accompanied the end of regulation as a process of “steering the economy” toward a more minimalist view of the state’s role as creator of a context for fair market competition. Many aspects of the emergent regulatory states were modeled on an idealized version of the American system. Institutionally, the hallmark is the independent regulator—regulators who are substantially autonomous from political organs as well as being separate from and impartial to the firms they regulate.
In terms of institutional design, two main gaps with the independent regulator model are most evident. First, supraregulatory bodies remain exceptionally powerful. These companies’ assets have been placed under the control of the State-Owned Assets Supervision and Administration Commission (SASAC). SASAC has substantial authority over assets, including the privatization, sales, and purchases of businesses and business units and the appointment of top managers. Most of these firms, in addition to being on SASAC’s list of strategic companies, are also overseen by the even more powerful National Development and Reform Commission (NDRC).
41 The last version of the “China is unique” school argues that, in fact, China’s economic performance of the last three decades is remarkably successful and the result of unprecedented policies and institutions. 43 Although there are distinctive elements of China’s political economy, the contributors to this perspective have not sufficiently defended their assertions, in part because they rarely engage in systematic comparison of China with elsewhere. 44 Huang goes to the other extreme by stressing the state-owned sector and underplaying the wide variation across regions and industries.
Beyond the Middle Kingdom: Comparative Perspectives on China's Capitalist Transformation (Contemporary Issues in Asia and Pacific) by Scott Kennedy