Will Hong Kong continue to be a vital global business hub?
Doug Fuller Discusses His Book "Paper Tigers, Hidden Dragons"
Douglas Fuller's book provides an in-depth longitudinal study of China's information technology industry and policy over the last 15 years.
About the Book
China presents us with a conundrum. How has a developing country with a spectacularly inefficient financial system, coupled with asset-destroying state-owned firms, managed to create a number of vibrant high-tech firms?
China's domestic financial system fails most private firms by neglecting to give them sufficient support to pursue technological upgrading, even while smothering state-favoured firms by providing them with too much support. Due to their foreign financing, multinational corporation's suffer from neither insufficient funds nor soft budget constraints, but they are insufficiently committed to China's development. Hybrid firms that combine ethnic Chinese management and foreign financing are the hidden dragons driving China's technological development. They avoid the maladies of China's domestic financial system while remaining committed to enhancing China's domestic technological capabilities.
In sad contrast, China's domestic firms are technological paper tigers. State efforts to build local innovation clusters and create national champions have not managed to transform these firms into drivers of technological development.
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Mahtani and McLaughlin were on the ground in Hong Kong and provide this history of the Hong Kong pro-democracy movement centered around a cast of core activists, culminating in the 2019 mass protests and Beijing's crackdown.
IOKIBE Kaoru (University of Tokyo) will focus on U.S.-Japan relations in historical and contemporary contexts.