Synopses & Reviews
Will China's growing economy outstrip the economic power of Japan and the advanced industrialized democracies of the West? No. For China to continue its phenomenal growth and develop sustainable comparative advantage, it needs to sustain a huge world market for its products and the technological and organizational capacity for innovation. According to Arayama and Mourdoukoutas, because China cannot secure these economic conditions, its role in the world economy will be limited to that of a mass producer of certain types of products. China's strength is its low-cost, mass-production capacity—but the lack of an ingrained capacity to innovate constrains China to transforming foreign innovations into lower-priced imitations. Arayama and Mourdoukoutas detail their argument carefully and precisely, in a well-written analysis that will be necessary reading for business decision makers and their academic colleagues, and for others who are seriously interested in the future of world business.
Synopsis
Argues that China is a challenge to itself, lacking the resources and the capabilities to turn into a formidable economic power.
Synopsis
Argues that China is a challenge to itself, lacking the resources a
Synopsis
nd the capabilities to turn into a formidable economic power.
About the Author
YUKO ARAYAMA teaches and conducts research in economic theory and applied economics. He also served as Director of the Contemporary Japanese Economic Research Program at Beijing University in 1997 and 1998.PANOS MOURDOUKOUTAS is a Professor of Economics at Long Island University, New York, where he teaches and conducts research on the Japanese and Asian economies.
Table of Contents
Introduction: What Is the Challenge?
Does China Have an "Infinite" World Market Frontier?
Is China Able to Innovate?
Is China Capable to Innovate?
Can the Chinese Government Accommodate Innovation?
Beyond the Last Frontier: Can Global Capitalism be Saved?
Conclusions
Bibliography
Index