The Chinese Economy in the 21st Century:

Barbara Krug and Hans Hendrischke have knowledgeably compiled and deftly co-edited an exploration of recent and on-going developments in China as reflected by the establishment of private enterprise businesses and companies, developed knowledge based industries, and evolved a kind of partnership between the institutions of government and business. A seminal work, The Chinese Economy in the 21st Century is very strongly recommended for inclusion in professional, corporate, academic, and governmental International Economics reference collections in general, and contemporary Chinese studies economic supplemental reading lists in particular. Library Bookwatch, Midwest Book Review What emerges in this book is a complex, layered, intriguing and ultimately informative and insightful portrayal of a radically renovated business environment in contemporary China. David Ip, Pacific Affairs A creative and wide-ranging collection on enterprise and business behavior in today s China. Using sociological and historical as well as economic analysis, the individual chapters provide insights into different aspects of China s transitional economy as it continues to undergo dynamic change. Recommended for academics and practitioners interested in the forms and dynamics of Chinese business behavior. Frederick C. Teiwes, The University of Sydney, Australia China s long-term economic success is driven by new firms, new sectors and new business practices. This book explores the establishment of new private firms and listed companies, the development of knowledge industries, in particular the IT and banking sectors and the co-evolution of public governance and business institutions. The contributors discuss the role of local institutions in coordinating business activities and unleashing entrepreneurship, arguing that the sudden growth of new firms and industries is facilitated by changes in business behaviour and institutions. Initial private exchange and investment in an environment of ill-functioning markets are shown to depend on local networks and local business culture which, in turn, rely on local tax regimes setting incentives for inherited bureaucracies to engage in economic transformation. Finally, the book establishes local institutions and local governance as crucial dimensions of China s emerging business system. Contributing to the theory of endogenous institutional change, The Chinese Economy in the 21st Century will be of great appeal to academics and students interested in management, comparative business systems, transition economics, evolutionary economics, Chinese studies and Asian studies.