The China Paradox

At the Front Line of Economic Transformation

Paul G. Clifford

• Publisher: De Gruyter
• Year: 2021
• Print ISBN: 9783110724172
• eBook ISBN: 9783110724264
• Edition: 2
• Topic: Economics
• Subtopic: Business Etiquette
• Index: Economics

In The China Paradox: At the Front Line of Economic Transformation, Harvard University-based historian of modern China and business strategist Dr. Paul G. Clifford documents the twists and turns of China's dramatic and unforeseen rise over the last four decades. He sheds light on the delicate and fragile balance of forces at the heart of the success of China's hybrid model, explaining how the ruling Communist Party boldly led the nation's economic reforms as the surest way to preserve its grip on political power.

Five years after this book was first published, much has changed within China and in its relationship with the world. This second edition provides extensive fresh new material. It explains how China has raised its game, moving from a catch-up mode to technological innovation in some areas, while still languishing in technology dependence in other respects. Earlier, China had shown signs that its driving spirit was faltering with its sails flapping. Under Xi Jinping, renewed energy has been injected. But at the same time Xi and his party have strongly reinforced their control across society and the economy, posing the question of whether Xi's New Era in fact marks a retreat from the reforms.

This second edition contains two new chapters. One profiles Huawei, a national champion in advanced technology. Another focuses on China's frictions with the world which have been fueled by a perception that its technology progress threatens US global dominance, coupled with China's human rights record. In addition, against a background of the challenges faced by Alibaba and other firms, there is analysis of this watershed in China's private sector's autonomy. There is also extensive new insight into Xi Jinping's rule.

As it celebrates its 100th anniversary in 2021, the Chinese Communist Party displays strong optimism over its continued governance of China. But that should not mask the longer-term risks to China's development and stability if its hybrid model continues to unravel as reforms are abandoned in favor of heightened autocracy.

Table of contents

• Title Page
• Copyright
• Contents
• Advance Praise for The China Paradox, Second Edition
• Advance Praise for The China Paradox, First Edition
• Acknowledgments
• Chapter 1 The Hybrid Development Model at the Heart of a Vibrant New China
• Chapter 2 Early Attempts at Industrialization: The Empire and the Republic
• Chapter 3 The First Decades of the People’s Republic: The Soviet Model … and Worse
• Chapter 4 Wrongs are Righted, the Reforms Take Shape
• Chapter 5 What to Do with the State-Owned Enterprises?
• Chapter 6 The Private Economy Emerges Unannounced
• Chapter 7 Huawei: A Private Company Becomes a National Champion
• Chapter 8 Magnet for Foreign Investment
• Chapter 9 Business Models at the Heart of China’s Emergence
• Chapter 10 China’s Friction with the World
• Chapter 11 What Could Disrupt or Sustain the China Paradox?
• Chapter 12 Conclusions
• Endnotes
• Index