Chinese Capitalism in a Global Era: Towards a Hybrid by Wai-Chung Yeung

By Wai-Chung Yeung

Chinese language Capitalism in an international period examines the dynamic ways that thousands of ethinic chinese language in East and Southeast Asian economies arrange their monetary actions. It analyses how chinese language capitalism has replaced below stipulations of latest globalization and anticipates what the longer term holds for it. The booklet demanding situations the traditional concept of chinese language cpitalism as 'crony capitalism', established round kinship networks and untouched by way of globalization.

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Additional info for Chinese Capitalism in a Global Era: Towards a Hybrid Capitalism (Routledge Advances Ininternational Political Economy, 12)

Sample text

This brings us to the second theme in the multi-disciplinary literature on Chinese capitalism and its business systems. Chinese business systems Whitley’s (1992, 1999) business systems approach offers a potentially fruitful avenue for understanding the nature and organization of Chinese capitalism. Whitley (1992: 13) defined business systems as distinctive configurations of hierarchy-market relations which become institutionalized as relatively successful ways of organizing economic activities in different institutional environments.

Measured in absolute terms, Taiwan and Indonesia have the largest number of ethnic Chinese population. In terms of ethnic distribution, Taiwan, Hong Kong and Singapore exhibit the largest concentration of ethnic Chinese population. These ethnic Chinese contribute considerably to the dynamic economic locomotive of Asia and serve as a catalyst for regional economic growth. The World Bank estimated that the combined economic output of ethnic Chinese outside mainland China was about US$400 billion in 1991 and up to US$600 billion by 1996 (quoted in Weidenbaum and Hughes, 1996: 25).

Clifford and Engardio, 2000: 74) Even in Taiwan where the small and medium-sized enterprises (SMEs) have been hailed as the backbone of the burgeoning economy (Hamilton 34 Hybrid capitalism and Kao, 1990; Shieh, 1992; Hamilton, 1997; Hsing, 1998), recent studies have shown an increasing concentration of corporate power in the hands of the largest business groups, most of which are owned and controlled by ethnic Chinese families and are listed on Taiwan’s stock exchange. 8 per cent in 1988 and a staggering 54 per cent in 1998.

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