China's unprecedented growth over the last three decades, along with the recent financial crisis in the West, has raised questions about the superiority of state-led capitalism. In Designated Drivers: How China Plans to Dominate the Global Auto Industry, G.E. Anderson, a specialist in finance and Chinese political economics, uses the auto industry to examine how China's industrial planning works, and explores whether state involvement in the economy really is a winning formula for sustainable growth.
Bringing to light the strengths and weaknesses that define the Chinese economy, Anderson finds that in some ways the government has become its own worst enemy, unable to choose between industrial competitiveness and social stability. While the economy is booming now, evidence suggests that long-term success is far from assured. Tracing the evolution of the post-Mao auto industry through thirteen case studies, Designated Drivers raises the difficult questions about the future of China that few people have dared to ask.
- Offers a unique insight into the Chinese economy through the lens of the auto industry
- Explores how successful the central government has been in spurring economic growth and the long-terms costs of intervention
- Uses case studies to illustrate China's explosive growth over the last three decades
A painstakingly researched analysis of the Chinese automobile industry, Designated Drivers explains the risks and rewards inherent in doing business in China that anyone interested in, or already working there need to understand.
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About the Author
G.E. Anderson is a specialist in finance and Chinese political economy who has been either living in or frequently traveling to China for nearly two decades. He recently completed a PhD in political science at UCLA, where his research focused on industrialplanning, business-government relations, and corporate governance. Anderson has worked as a teacher, commercial lending analyst, and CFO of a nonprofit organization. Prior to attending UCLA, he was finance director for Charles Schwab's Tokyo-based joint venture. Anderson also holds a BS in Finance from Louisiana Tech, an MBA from Golden Gate University, and an MA in Asia-Pacific studies from the University of San Francisco. He is a contributing writer for Forbes and a political risk and strategy consultant at his firm, Pacific Rim Advisors and blogs at ChinaBizGov. Visit his website at www.DesignatedDrivers.co.
Table of Contents
Map of Chinese Provinces and Cities Mentioned in the Book xi
List of Terms and Acronyms xiii
Chapter One Building National Champions 1
Chapter Two The System 25
Chapter Three The Policy 51
Chapter Four The Joint Ventures 103
Chapter Five The Independents 137
Chapter Six The Mergers 187
Chapter Seven The Neighbors 219
Chapter Eight In Conclusion 243
Appendix A List of Passenger Vehicle Assembly Joint Ventures 267
Appendix B Additional Data 271
Selected Bibliography 275
About the Author 287