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This book provides an in-depth study of China's information technology (IT) industry and policy in the 21st century, and explores the connection between China's financial system and technological development outcomes.
China presents us with a conundrum. How has a developing country with a spectacularly inefficient financial system, coupled with asset-destroying state-owned firms, managed to create a number of vibrant high-tech firms? China's domestic financial system fails most private firms by neglecting to give them sufficient support to pursue technological upgrading, even while smothering state-favoured firms by providing them with too much support. Due to their foreign financing, multinational corporations suffer from neither insufficient funds nor soft budget constraints, but they are insufficiently committed to China's development. Hybrid firms that combine ethnic Chinese management and foreign financing are the hidden dragons driving China's technological development. They avoid the maladies of China's domestic financial system while remaining committed to enhancing China's domestic technological capabilities. In sad contrast, China's domestic firms are technological paper tigers. State efforts to build local innovation clusters and create national champions have not managed to transform these firms into drivers of technological development. These findings upend fundamental debates about China's political economy. Rather than a choice between state capitalism and building domestic market institutions, China has fostered state capitalism even while tolerating the importing of foreign market institutions. While the book's findings suggest that China's state and domestic market institutions are ineffective, the hybrids promise an alternative way to avoid the middle-income trap. By documenting how variation in China's institutional terrain impacts technological development, the book also provides much needed nuance to widespread yet mutually irreconcilable claims that China is either an emerging innovation power or a technological backwater. Looking beyond China, hybrid-led development has implications for new alternative economic development models and new ways to conceptualize contemporary capitalism that go beyond current domestic institution-centric approaches.
Gerald tells of the very unusual animals he would add to the zoo, if he were in charge.
The death of high school basketball star Rob Washington in an automobile accident affects the lives of his close friend Andy, who was driving the car, and many others in the school.
A young boy runs away from home to rescue an abused baby dragon held captive to serve as a free twenty-four hour, seven-days-a-week ferry for the lazy wild animals living on Wild Island.
Resurgent Asia analyses the phenomenal transformation of Asia, which would have been difficult to imagine, let alone predict, fifty years ago, when Gunnar Myrdal published Asian Drama. In doing so, it provides an analytical narrative of this remarkable story of economic development, situated in its wider context of historical, political, and social factors, and an economic analysis of the underlying factors, with a focus on critical issues in the process of, and outcomes in, development. In 1970, Asia was the poorest continent in the world, marginal except for its large population. By 2016, it accounted for three-tenths of world income, two-fifths of world manufacturing, and one-third of world trade, while its income per capita converged towards the world average. However, this transformation was associated with unequal outcomes across countries and between people. The analysis disaggregates Asia into its four constituent sub-regions--East, Southeast, South, and West--and further into fourteen economies--China, India, South Korea, Indonesia, Turkey, Taiwan, Thailand, Philippines, Malaysia, Singapore, Pakistan, Bangladesh, Vietnam, and Sri Lanka--which account for more than four-fifths of its population and income. This book enhances our understanding of development processes and outcomes in Asia over the past fifty years, draws out the analytical conclusions that contribute to contemporary debates on development, and highlights some lessons from the Asian experience for countries elsewhere. It is the first to examine the phenomenal changes that are transforming economies in Asia and shifting the balance of economic power in the world, while reflecting on the future prospects in Asia over the next twenty-five years. A rich, engaging, and fascinating read.
Presents the author's selection of his best short stories, as well as a new piece, in a collection that includes "The Man Who Ended History: A Documentary," "Mono No Aware" and "The Waves."
A thrilling adventure from award-winning master storyteller Philip Reeve! Ansel's new master slays dragons for a living. He says he's hunted the monstrous worms all over Christendom-and he has the scars to prove it! But is Brock just a clever trickster in shining armor? Ansel is sure there is no such things as dragons. So what is the man-eating creature that lives in the crags of Dragon Mountain? As he and Brock climb the perilous ice-face to its lair, Ansel is about to discover the horrifying truth. A heart-pounding new fantasy with a brilliant twist from Philip Reeve, one of the world's greatest writers.