President Trump has raised the intriguing question of bringing the manufacturing of companies like Apple back from China to the U.S. This book, however, argues that in this age of the knowledge-based economy and increased globalization, that value creation and distribution based on knowledge and innovation activities are at the core of economic development. The double-edged sword of globalization has transformed China's economic development in the past few decades. Although China has benefitted from globalization and is now the second largest economy in the world, having become a global manufacturing power and the biggest exporter of high-tech products, it continues to be highly dependent on foreign sources of capital and technology. This book will explore the core of the Chinese economy from the perspective of the Global Value Chain (GVC), combining analysis of inward investment, international trade, Science and Technology and Innovation (S&TI) and economic development. Specifically, it investigates China's evolving role in GVCs with some innovative Chinese companies emerging in the global market and China's ongoing efforts to become an innovation-driven economy. China's impressive economic record and experience provides an impressive role model for other developing countries.

President Trump has raised the intriguing question of bringing the manufacturing of companies like Apple back from China to the U.S. This book, however, argues that in this age of the knowledge-based economy and increased globalization, that value creation and distribution based on knowledge and innovation activities are at the core of economic development. The double-edged sword of globalization has transformed China's economic development in the past few decades. Although China has benefitted from globalization and is now the second largest economy in the world, having become a global manufacturing power and the biggest exporter of high-tech products, it continues to be highly dependent on foreign sources of capital and technology. This book will explore the core of the Chinese economy from the perspective of the Global Value Chain (GVC), combining analysis of inward investment, international trade, Science and Technology and Innovation (S&TI) and economic development. Specifically, it investigates China's evolving role in GVCs with some innovative Chinese companies emerging in the global market and China's ongoing efforts to become an innovation-driven economy. China's impressive economic record and experience provides an impressive role model for other developing countries.

There are a variety of reasons underlying the remarkable development of science and technology (S&T), and innovation in post-1978 China. This book seeks to achieve an understanding of such development from an institutional or a political economy perspective. Departing from the literature of S&T and innovation studies that treats innovation as a market or enterprise's behavior in Schumpeter's sense, Sun and Cao argue that it involves politics, institutions, and the role of the state. In particular, they examine how the Chinese state has played its visible role in making innovation policies, allocating funding for R&D programs, making efforts to attract talent, and organizing critical S&T programs. This book appeals to scholars in S&T and innovation policy, political economy, innovation governance, and China studies as well as policymakers and business executives.