During the 1980s and continuing into the 1990s, more than 1,000 Japanese firms established `transplant' manufacturing operations in the US. Many of these have been in mature industries like steel and automobiles, but many have also been in high technology industries as well. The success of these ventures is the result of the sweeping revolution in the organization of technology, work, and production that lies at the heart of the Japanese model of production.This book explores the rise of the Japanese model and provides a detailed examination of the processes which have brought about its transfer to the US. It presents new and original data on the extent of Japanese investment in both US heavy industry and high technology.It suggests that Japanese capitalism has developed a new world-class standard of production organization which is transferable and is in the process of being transferred to other advanced industrial nations.

In the first serious history of the biotechnology industry, Martin Kenney examines its growth and structure, describes the role of university departments of basic and applied biology, and shows how the relationship undermines the educational role of the university."Kenney’s work is the first major effort to provide a detailed analysis of the birth of the new industrial field of biotechnology and its impact on universities. . . . Kenney’s book abounds in rich description and valuable conjectures. It also provides important insights into the structural and institutional aspects of the biotechnological revolution. It is informed by an extensive literature including reports form the financial community, university-industry contracts, trade journals, personal interviews, and company prospectuses."—Sheldon Krimsky, American Scientist"A fine description of a vital new field. It deserves wide readership."—David Silbert and Duncan Newhauser, New England Journal of Medicine"The author raises important questions about whether the character of this university-industrial complex adequately allows for the kind of public discussion and participation necessary to insure consideration of social, economic, and moral issues in the development of this important new technology."—Harvard Educational Review "Bears upon questions of fundamental importance to science, academia, and society and provides valuable documentation of the magnitude of the actions already taken and the multitude of participants involved."—Robert L. Sinsheimer, Nature

What has made Silicon Valley so productive of new technologies and new firms? How did its pioneering achievements begin—in computer networking, semiconductors, personal computing, and the Internet—and what forces have propelled its unprecedented growth? This collection of nine chapters by contributors from varied disciplines—business, geography, history, regional planning, and sociology—examines the history, development, and entrepreneurial dynamics of Silicon Valley.Part I, "History," provides context for the Valley's success by exploring its early industrial roots. It traces the development of the electronics industry in Silicon Valley back to the founding of Federal Telegraph in 1908, and discusses the role of defense spending and the relationship with Stanford University in the region's growth. Part II, "Institutions," emphasizes the importance of supporting institutions and practices in helping Valley startups succeed. Four chapters explore the role of law firms in facilitating the formation of new companies, the evolution of the venture capital industry and its role in funding new firms, the importance of labor mobility, and the significance of close interfirm relationships in the success of Silicon Valley companies.Part III, "General Explanations," presents three different perspectives on the environment that has made Silicon Valley so successful. The first chapter considers Silicon Valley as an ecosystem of interacting institutions, individuals, and a culture that encourages and nurtures entrepreneurship. The second chapter argues that Silicon Valley should not be seen as a region in which relationships are based on civic virtue, but rather one in which trust is based on performance, which makes it uniquely permeable to new ideas and talented individuals. The final chapter contends that institutions specializing in new firm formation are responsible for Silicon Valley's unique ability to foster technological advances.

What are the forces that are driving firms and industries to globalize their operations? This volume explores how specific industries have organized their global operations through case studies of seven manufacturing industries: garments and textiles, automobiles and auto parts, televisions, hard disk drives, flat panel displays, semiconductors, and personal computers. Based on long-term research sponsored by the Sloan Foundation, the chapters provide readers with a nuanced understanding of the complex matrix of factor costs, access to inimitable capabilities, and time-based pressures that influence where firms decide to locate particular segments of the value chain. The book examines globalization within the context of five factors affecting locational decisions: advances in transportation and communication; the clustering of knowledge assets; the drive to reduce cycle times; the commodification of existing products; and the relative advantages of proximity to customers. The case studies are framed by Paul Deguid's Preface on the significance of power in value chains and Bruce Kogut's conclusion on the importance of knowledge in locational decisions. Together, the chapters reveal a remarkable diversity of responses across industries to these forces, and suggest that any understanding of globalization must appreciate this diversity. This volume is ideal for both MBA and undergraduate students studying the location of economic activities by multinational firms.

What are the forces that are driving firms and industries to globalize their operations? This volume explores how specific industries have organized their global operations through case studies of seven manufacturing industries: garments and textiles, automobiles and auto parts, televisions, hard disk drives, flat panel displays, semiconductors, and personal computers. Based on long-term research sponsored by the Sloan Foundation, the chapters provide readers with a nuanced understanding of the complex matrix of factor costs, access to inimitable capabilities, and time-based pressures that influence where firms decide to locate particular segments of the value chain. The book examines globalization within the context of five factors affecting locational decisions: advances in transportation and communication; the clustering of knowledge assets; the drive to reduce cycle times; the commodification of existing products; and the relative advantages of proximity to customers. The case studies are framed by Paul Deguid's Preface on the significance of power in value chains and Bruce Kogut's conclusion on the importance of knowledge in locational decisions. Together, the chapters reveal a remarkable diversity of responses across industries to these forces, and suggest that any understanding of globalization must appreciate this diversity. This volume is ideal for both MBA and undergraduate students studying the location of economic activities by multinational firms.

What are the forces that are driving firms and industries to globalize their operations? This volume explores how specific industries have organized their global operations through case studies of seven manufacturing industries: garments and textiles, automobiles and auto parts, televisions, hard disk drives, flat panel displays, semiconductors, and personal computers. Based on long-term research sponsored by the Sloan Foundation, the chapters provide readers with a nuanced understanding of the complex matrix of factor costs, access to inimitable capabilities, and time-based pressures that influence where firms decide to locate particular segments of the value chain. The book examines globalization within the context of five factors affecting locational decisions: advances in transportation and communication; the clustering of knowledge assets; the drive to reduce cycle times; the commodification of existing products; and the relative advantages of proximity to customers. The case studies are framed by Paul Deguid's Preface on the significance of power in value chains and Bruce Kogut's conclusion on the importance of knowledge in locational decisions. Together, the chapters reveal a remarkable diversity of responses across industries to these forces, and suggest that any understanding of globalization must appreciate this diversity. This volume is ideal for both MBA and undergraduate students studying the location of economic activities by multinational firms.

Public Universities and Regional Growth examines evolutions in research and innovation at six University of California campuses. Each chapter presents a deep, historical analysis that traces the dynamic interaction between particular campuses and regional firms in industries that range from biotechnology, scientific instruments, and semiconductors, to software, wine, and wireless technologies.The book provides a uniquely comprehensive and cohesive look at the University of California's complex relationships with regional entrepreneurs. As a leading public institution, the UC is an examplar for other institutions of higher education at a time when the potential and value of these universities is under scrutiny. Any yet, by recent accounts, public research universities performed nearly 70% of all academic research and approximately 60% of federally funded R&D in the United States. Thoughtful and distinctive, Public Universities and Regional Growth illustrates the potential for universities to drive knowledge-based growth while revealing the California system as a uniquely powerful engine for innovation across its home state.

Public Universities and Regional Growth examines evolutions in research and innovation at six University of California campuses. Each chapter presents a deep, historical analysis that traces the dynamic interaction between particular campuses and regional firms in industries that range from biotechnology, scientific instruments, and semiconductors, to software, wine, and wireless technologies.The book provides a uniquely comprehensive and cohesive look at the University of California's complex relationships with regional entrepreneurs. As a leading public institution, the UC is an examplar for other institutions of higher education at a time when the potential and value of these universities is under scrutiny. Any yet, by recent accounts, public research universities performed nearly 70% of all academic research and approximately 60% of federally funded R&D in the United States. Thoughtful and distinctive, Public Universities and Regional Growth illustrates the potential for universities to drive knowledge-based growth while revealing the California system as a uniquely powerful engine for innovation across its home state.

Public Universities and Regional Growth examines evolutions in research and innovation at six University of California campuses. Each chapter presents a deep, historical analysis that traces the dynamic interaction between particular campuses and regional firms in industries that range from biotechnology, scientific instruments, and semiconductors, to software, wine, and wireless technologies.The book provides a uniquely comprehensive and cohesive look at the University of California's complex relationships with regional entrepreneurs. As a leading public institution, the UC is an examplar for other institutions of higher education at a time when the potential and value of these universities is under scrutiny. Any yet, by recent accounts, public research universities performed nearly 70% of all academic research and approximately 60% of federally funded R&D in the United States. Thoughtful and distinctive, Public Universities and Regional Growth illustrates the potential for universities to drive knowledge-based growth while revealing the California system as a uniquely powerful engine for innovation across its home state.

Capitalism is a powerful engine that requires finance. Private equity is part of the neoliberal transformation of capitalism that has failed the average citizen and unleashed a tsunami of leveraged acquisitions that have destroyed entire sectors of our economy. Private equity has become a powerful force that has moved from restructuring industrial firms to buying up just about any economic activity in local communities that has assets that can be monetized, without any consideration of the impact on the quality of life and well-being of the community. Th a process has been aided and abetted by government policy. The authors of this Element explain the workings of the private equity model and the reasons it has been so profitable. They document the effects of PE on firms and communities by examining a range of activities that once had a local focus. They conclude by offering policy recommendations.

The precipitous growth of the EV industry in China and its rise to global leadership are astounding and could not have been predicted a decade ago. This growth was propelled by Chinese central government initiatives embedded in several five-year plans that directed attention to a vaguely defined idea of 'new energy' vehicles (NEVs). Bottom-up responses to these initiatives involved many new entrepreneurial startups, intense interprovincial competition, and local government support for NEVs. The surge of entrepreneurial startups enabled China to lead in production and technological innovation in this developing EV industry and led to the disruption of the internal combustion engine industry. The Element analyzes how the dismissal of Tesla as a curiosity led to China's global dominance in the EV industry and to batteries becoming the most important arena of global technological competition in the early twenty-first century. This title is also available as Open Access on Cambridge Core.

The precipitous growth of the EV industry in China and its rise to global leadership are astounding and could not have been predicted a decade ago. This growth was propelled by Chinese central government initiatives embedded in several five-year plans that directed attention to a vaguely defined idea of 'new energy' vehicles (NEVs). Bottom-up responses to these initiatives involved many new entrepreneurial startups, intense interprovincial competition, and local government support for NEVs. The surge of entrepreneurial startups enabled China to lead in production and technological innovation in this developing EV industry and led to the disruption of the internal combustion engine industry. The Element analyzes how the dismissal of Tesla as a curiosity led to China's global dominance in the EV industry and to batteries becoming the most important arena of global technological competition in the early twenty-first century. This title is also available as Open Access on Cambridge Core.

Capitalism is a powerful engine that requires finance. Private equity is part of the neoliberal transformation of capitalism that has failed the average citizen and unleashed a tsunami of leveraged acquisitions that have destroyed entire sectors of our economy. Private equity has become a powerful force that has moved from restructuring industrial firms to buying up just about any economic activity in local communities that has assets that can be monetized, without any consideration of the impact on the quality of life and well-being of the community. Th a process has been aided and abetted by government policy. The authors of this Element explain the workings of the private equity model and the reasons it has been so profitable. They document the effects of PE on firms and communities by examining a range of activities that once had a local focus. They conclude by offering policy recommendations.

The miracle growth of the Chinese economy has decreased from a compound annual growth rate of 10% to less than 7% in 2015. The two engines of growth - export on a scale never before witnessed and massive infrastructure investments - are reaching the point of diminishing returns. This poses the central question which is explored in this book - can China escape the middle-income trap? Assuming current political arrangements remain unchanged and that it does not or cannot adopt Western sociopolitical economic regimes, can China develop an indigenous growth model centered on innovation? This compilation gathers leading Chinese and other international scholars to consider the daunting challenges and complexities of building an innovation-driven Chinese growth model. Providing several comprehensive perspectives, it examines key areas such as the institutional system, technology, sociocultural forces and national policy. The analyses and their conclusions range from strong optimism to deep pessimism about China's future.

The miracle growth of the Chinese economy has decreased from a compound annual growth rate of 10% to less than 7% in 2015. The two engines of growth - export on a scale never before witnessed and massive infrastructure investments - are reaching the point of diminishing returns. This poses the central question which is explored in this book - can China escape the middle-income trap? Assuming current political arrangements remain unchanged and that it does not or cannot adopt Western sociopolitical economic regimes, can China develop an indigenous growth model centered on innovation? This compilation gathers leading Chinese and other international scholars to consider the daunting challenges and complexities of building an innovation-driven Chinese growth model. Providing several comprehensive perspectives, it examines key areas such as the institutional system, technology, sociocultural forces and national policy. The analyses and their conclusions range from strong optimism to deep pessimism about China''s future.

The miracle growth of the Chinese economy has decreased from a compound annual growth rate of 10% to less than 7% in 2015. The two engines of growth - export on a scale never before witnessed and massive infrastructure investments - are reaching the point of diminishing returns. This poses the central question which is explored in this book - can China escape the middle-income trap? Assuming current political arrangements remain unchanged and that it does not or cannot adopt Western sociopolitical economic regimes, can China develop an indigenous growth model centered on innovation? This compilation gathers leading Chinese and other international scholars to consider the daunting challenges and complexities of building an innovation-driven Chinese growth model. Providing several comprehensive perspectives, it examines key areas such as the institutional system, technology, sociocultural forces and national policy. The analyses and their conclusions range from strong optimism to deep pessimism about China''s future.

During the 1980s and continuing into the 1990s, more than 1,000 Japanese firms established `transplant' manufacturing operations in the US. Many of these have been in mature industries like steel and automobiles, but many have also been in high technology industries as well. The success of these ventures is the result of the sweeping revolution in the organization of technology, work, and production that lies at the heart of the Japanese model of production.This book explores the rise of the Japanese model and provides a detailed examination of the processes which have brought about its transfer to the US. It presents new and original data on the extent of Japanese investment in both US heavy industry and high technology.It suggests that Japanese capitalism has developed a new world-class standard of production organization which is transferable and is in the process of being transferred to other advanced industrial nations.

In the first serious history of the biotechnology industry, Martin Kenney examines its growth and structure, describes the role of university departments of basic and applied biology, and shows how the relationship undermines the educational role of the university."Kenney’s work is the first major effort to provide a detailed analysis of the birth of the new industrial field of biotechnology and its impact on universities. . . . Kenney’s book abounds in rich description and valuable conjectures. It also provides important insights into the structural and institutional aspects of the biotechnological revolution. It is informed by an extensive literature including reports form the financial community, university-industry contracts, trade journals, personal interviews, and company prospectuses."—Sheldon Krimsky, American Scientist"A fine description of a vital new field. It deserves wide readership."—David Silbert and Duncan Newhauser, New England Journal of Medicine"The author raises important questions about whether the character of this university-industrial complex adequately allows for the kind of public discussion and participation necessary to insure consideration of social, economic, and moral issues in the development of this important new technology."—Harvard Educational Review "Bears upon questions of fundamental importance to science, academia, and society and provides valuable documentation of the magnitude of the actions already taken and the multitude of participants involved."—Robert L. Sinsheimer, Nature

What has made Silicon Valley so productive of new technologies and new firms? How did its pioneering achievements begin—in computer networking, semiconductors, personal computing, and the Internet—and what forces have propelled its unprecedented growth? This collection of nine chapters by contributors from varied disciplines—business, geography, history, regional planning, and sociology—examines the history, development, and entrepreneurial dynamics of Silicon Valley.Part I, "History," provides context for the Valley's success by exploring its early industrial roots. It traces the development of the electronics industry in Silicon Valley back to the founding of Federal Telegraph in 1908, and discusses the role of defense spending and the relationship with Stanford University in the region's growth. Part II, "Institutions," emphasizes the importance of supporting institutions and practices in helping Valley startups succeed. Four chapters explore the role of law firms in facilitating the formation of new companies, the evolution of the venture capital industry and its role in funding new firms, the importance of labor mobility, and the significance of close interfirm relationships in the success of Silicon Valley companies.Part III, "General Explanations," presents three different perspectives on the environment that has made Silicon Valley so successful. The first chapter considers Silicon Valley as an ecosystem of interacting institutions, individuals, and a culture that encourages and nurtures entrepreneurship. The second chapter argues that Silicon Valley should not be seen as a region in which relationships are based on civic virtue, but rather one in which trust is based on performance, which makes it uniquely permeable to new ideas and talented individuals. The final chapter contends that institutions specializing in new firm formation are responsible for Silicon Valley's unique ability to foster technological advances.

What are the forces that are driving firms and industries to globalize their operations? This volume explores how specific industries have organized their global operations through case studies of seven manufacturing industries: garments and textiles, automobiles and auto parts, televisions, hard disk drives, flat panel displays, semiconductors, and personal computers. Based on long-term research sponsored by the Sloan Foundation, the chapters provide readers with a nuanced understanding of the complex matrix of factor costs, access to inimitable capabilities, and time-based pressures that influence where firms decide to locate particular segments of the value chain. The book examines globalization within the context of five factors affecting locational decisions: advances in transportation and communication; the clustering of knowledge assets; the drive to reduce cycle times; the commodification of existing products; and the relative advantages of proximity to customers. The case studies are framed by Paul Deguid's Preface on the significance of power in value chains and Bruce Kogut's conclusion on the importance of knowledge in locational decisions. Together, the chapters reveal a remarkable diversity of responses across industries to these forces, and suggest that any understanding of globalization must appreciate this diversity. This volume is ideal for both MBA and undergraduate students studying the location of economic activities by multinational firms.

What are the forces that are driving firms and industries to globalize their operations? This volume explores how specific industries have organized their global operations through case studies of seven manufacturing industries: garments and textiles, automobiles and auto parts, televisions, hard disk drives, flat panel displays, semiconductors, and personal computers. Based on long-term research sponsored by the Sloan Foundation, the chapters provide readers with a nuanced understanding of the complex matrix of factor costs, access to inimitable capabilities, and time-based pressures that influence where firms decide to locate particular segments of the value chain. The book examines globalization within the context of five factors affecting locational decisions: advances in transportation and communication; the clustering of knowledge assets; the drive to reduce cycle times; the commodification of existing products; and the relative advantages of proximity to customers. The case studies are framed by Paul Deguid's Preface on the significance of power in value chains and Bruce Kogut's conclusion on the importance of knowledge in locational decisions. Together, the chapters reveal a remarkable diversity of responses across industries to these forces, and suggest that any understanding of globalization must appreciate this diversity. This volume is ideal for both MBA and undergraduate students studying the location of economic activities by multinational firms.

What are the forces that are driving firms and industries to globalize their operations? This volume explores how specific industries have organized their global operations through case studies of seven manufacturing industries: garments and textiles, automobiles and auto parts, televisions, hard disk drives, flat panel displays, semiconductors, and personal computers. Based on long-term research sponsored by the Sloan Foundation, the chapters provide readers with a nuanced understanding of the complex matrix of factor costs, access to inimitable capabilities, and time-based pressures that influence where firms decide to locate particular segments of the value chain. The book examines globalization within the context of five factors affecting locational decisions: advances in transportation and communication; the clustering of knowledge assets; the drive to reduce cycle times; the commodification of existing products; and the relative advantages of proximity to customers. The case studies are framed by Paul Deguid's Preface on the significance of power in value chains and Bruce Kogut's conclusion on the importance of knowledge in locational decisions. Together, the chapters reveal a remarkable diversity of responses across industries to these forces, and suggest that any understanding of globalization must appreciate this diversity. This volume is ideal for both MBA and undergraduate students studying the location of economic activities by multinational firms.

Public Universities and Regional Growth examines evolutions in research and innovation at six University of California campuses. Each chapter presents a deep, historical analysis that traces the dynamic interaction between particular campuses and regional firms in industries that range from biotechnology, scientific instruments, and semiconductors, to software, wine, and wireless technologies.The book provides a uniquely comprehensive and cohesive look at the University of California's complex relationships with regional entrepreneurs. As a leading public institution, the UC is an examplar for other institutions of higher education at a time when the potential and value of these universities is under scrutiny. Any yet, by recent accounts, public research universities performed nearly 70% of all academic research and approximately 60% of federally funded R&D in the United States. Thoughtful and distinctive, Public Universities and Regional Growth illustrates the potential for universities to drive knowledge-based growth while revealing the California system as a uniquely powerful engine for innovation across its home state.

Public Universities and Regional Growth examines evolutions in research and innovation at six University of California campuses. Each chapter presents a deep, historical analysis that traces the dynamic interaction between particular campuses and regional firms in industries that range from biotechnology, scientific instruments, and semiconductors, to software, wine, and wireless technologies.The book provides a uniquely comprehensive and cohesive look at the University of California's complex relationships with regional entrepreneurs. As a leading public institution, the UC is an examplar for other institutions of higher education at a time when the potential and value of these universities is under scrutiny. Any yet, by recent accounts, public research universities performed nearly 70% of all academic research and approximately 60% of federally funded R&D in the United States. Thoughtful and distinctive, Public Universities and Regional Growth illustrates the potential for universities to drive knowledge-based growth while revealing the California system as a uniquely powerful engine for innovation across its home state.

Public Universities and Regional Growth examines evolutions in research and innovation at six University of California campuses. Each chapter presents a deep, historical analysis that traces the dynamic interaction between particular campuses and regional firms in industries that range from biotechnology, scientific instruments, and semiconductors, to software, wine, and wireless technologies.The book provides a uniquely comprehensive and cohesive look at the University of California's complex relationships with regional entrepreneurs. As a leading public institution, the UC is an examplar for other institutions of higher education at a time when the potential and value of these universities is under scrutiny. Any yet, by recent accounts, public research universities performed nearly 70% of all academic research and approximately 60% of federally funded R&D in the United States. Thoughtful and distinctive, Public Universities and Regional Growth illustrates the potential for universities to drive knowledge-based growth while revealing the California system as a uniquely powerful engine for innovation across its home state.

Capitalism is a powerful engine that requires finance. Private equity is part of the neoliberal transformation of capitalism that has failed the average citizen and unleashed a tsunami of leveraged acquisitions that have destroyed entire sectors of our economy. Private equity has become a powerful force that has moved from restructuring industrial firms to buying up just about any economic activity in local communities that has assets that can be monetized, without any consideration of the impact on the quality of life and well-being of the community. Th a process has been aided and abetted by government policy. The authors of this Element explain the workings of the private equity model and the reasons it has been so profitable. They document the effects of PE on firms and communities by examining a range of activities that once had a local focus. They conclude by offering policy recommendations.

The precipitous growth of the EV industry in China and its rise to global leadership are astounding and could not have been predicted a decade ago. This growth was propelled by Chinese central government initiatives embedded in several five-year plans that directed attention to a vaguely defined idea of 'new energy' vehicles (NEVs). Bottom-up responses to these initiatives involved many new entrepreneurial startups, intense interprovincial competition, and local government support for NEVs. The surge of entrepreneurial startups enabled China to lead in production and technological innovation in this developing EV industry and led to the disruption of the internal combustion engine industry. The Element analyzes how the dismissal of Tesla as a curiosity led to China's global dominance in the EV industry and to batteries becoming the most important arena of global technological competition in the early twenty-first century. This title is also available as Open Access on Cambridge Core.

The precipitous growth of the EV industry in China and its rise to global leadership are astounding and could not have been predicted a decade ago. This growth was propelled by Chinese central government initiatives embedded in several five-year plans that directed attention to a vaguely defined idea of 'new energy' vehicles (NEVs). Bottom-up responses to these initiatives involved many new entrepreneurial startups, intense interprovincial competition, and local government support for NEVs. The surge of entrepreneurial startups enabled China to lead in production and technological innovation in this developing EV industry and led to the disruption of the internal combustion engine industry. The Element analyzes how the dismissal of Tesla as a curiosity led to China's global dominance in the EV industry and to batteries becoming the most important arena of global technological competition in the early twenty-first century. This title is also available as Open Access on Cambridge Core.

Capitalism is a powerful engine that requires finance. Private equity is part of the neoliberal transformation of capitalism that has failed the average citizen and unleashed a tsunami of leveraged acquisitions that have destroyed entire sectors of our economy. Private equity has become a powerful force that has moved from restructuring industrial firms to buying up just about any economic activity in local communities that has assets that can be monetized, without any consideration of the impact on the quality of life and well-being of the community. Th a process has been aided and abetted by government policy. The authors of this Element explain the workings of the private equity model and the reasons it has been so profitable. They document the effects of PE on firms and communities by examining a range of activities that once had a local focus. They conclude by offering policy recommendations.

The miracle growth of the Chinese economy has decreased from a compound annual growth rate of 10% to less than 7% in 2015. The two engines of growth - export on a scale never before witnessed and massive infrastructure investments - are reaching the point of diminishing returns. This poses the central question which is explored in this book - can China escape the middle-income trap? Assuming current political arrangements remain unchanged and that it does not or cannot adopt Western sociopolitical economic regimes, can China develop an indigenous growth model centered on innovation? This compilation gathers leading Chinese and other international scholars to consider the daunting challenges and complexities of building an innovation-driven Chinese growth model. Providing several comprehensive perspectives, it examines key areas such as the institutional system, technology, sociocultural forces and national policy. The analyses and their conclusions range from strong optimism to deep pessimism about China's future.

The miracle growth of the Chinese economy has decreased from a compound annual growth rate of 10% to less than 7% in 2015. The two engines of growth - export on a scale never before witnessed and massive infrastructure investments - are reaching the point of diminishing returns. This poses the central question which is explored in this book - can China escape the middle-income trap? Assuming current political arrangements remain unchanged and that it does not or cannot adopt Western sociopolitical economic regimes, can China develop an indigenous growth model centered on innovation? This compilation gathers leading Chinese and other international scholars to consider the daunting challenges and complexities of building an innovation-driven Chinese growth model. Providing several comprehensive perspectives, it examines key areas such as the institutional system, technology, sociocultural forces and national policy. The analyses and their conclusions range from strong optimism to deep pessimism about China''s future.

The miracle growth of the Chinese economy has decreased from a compound annual growth rate of 10% to less than 7% in 2015. The two engines of growth - export on a scale never before witnessed and massive infrastructure investments - are reaching the point of diminishing returns. This poses the central question which is explored in this book - can China escape the middle-income trap? Assuming current political arrangements remain unchanged and that it does not or cannot adopt Western sociopolitical economic regimes, can China develop an indigenous growth model centered on innovation? This compilation gathers leading Chinese and other international scholars to consider the daunting challenges and complexities of building an innovation-driven Chinese growth model. Providing several comprehensive perspectives, it examines key areas such as the institutional system, technology, sociocultural forces and national policy. The analyses and their conclusions range from strong optimism to deep pessimism about China''s future.