Today's China is governed by a new economic model that marks a
radical break from the Mao and Deng eras; it departs fundamentally
from both the East Asian developmental state and its own Communist
past. It has not, however, adopted a liberal economic model. China
has retained elements of statist control even though it has
liberalized foreign direct investment more than any other
developing country in recent years. This mode of global economic
integration reveals much about China's state capacity and
development strategy, which is based on retaining government
control over critical sectors while meeting commitments made to the
World Trade Organization.
In China's Regulatory State, Roselyn Hsueh demonstrates that
China only appears to be a more liberal state; even as it
introduces competition and devolves economic decisionmaking, the
state has selectively imposed new regulations at the sectoral
level, asserting and even tightening control over industry and
market development, to achieve state goals. By investigating in
depth how China implemented its economic policies between 1978 and
2010, Hsueh gives the most complete picture yet of China's
regulatory state, particularly as it has shaped the
telecommunications and textiles industries.
Hsueh contends that a logic of strategic value explains how the
state, with its different levels of authority and maze of
bureaucracies, interacts with new economic stakeholders to enhance
its control in certain economic sectors while relinquishing control
in others. Sectoral characteristics determine policy specifics
although the organization of institutions and boom-bust cycles
influence how the state reformulates old rules and creates new ones
to maximize benefits and minimize costs after an initial phase of
liberalization. This pathbreaking analysis of state goals,
government-business relations, and methods of governance across
industries in China also considers Japan's, South Korea s, and
Taiwan s manifestly different approaches to globalization."
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