In the past two decades, China has experienced rapid industrial and economic growth. This fascinating book explores the unique Chinese business strategy of vigorous market entry and low prices, which has been the key feature of this accelerated industrial growth.
Using a rich accumulation of research, the authors lay out a simple microeconomics framework to explain how Chinese industries have developed, aided by vertically disintegrated value chains and utilization of technology and transaction platforms. Case studies of specific industries – including electronics, automobiles, coal and energy, agriculture, finance, and pharmaceuticals – contribute to the comprehensive and timely analysis.
This book will appeal to scholars and students of industrial development, industrial organization, and development economics, as well as Chinese and Asian studies.