Chapter

The Private Sector

Gordon Redding and Michael A. Witt

in The Future of Chinese Capitalism: Choices and Chances

Published in print January 2010 | ISBN: 9780199575879
Published online October 2011 | e-ISBN: 9780191702204 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199575879.003.0008
The Private Sector

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This chapter addresses a form of network capitalism linking the smaller private firms. It employs a business systems framework as the basis for the explanation of the private sector business system of China, and so builds up a picture of how the culture connects with the institutions and in turn with the business system, the total predisposing this part of the economy to be good at certain forms of industry. The rationale, identity and authority of Chinese culture are shown. It is important to acknowledge certain formative historical effects on the emerging private-sector business system in China before considering the institutions of capital, human capital, and social capital. These are features that have helped to shape the way business works, and without adding them the explanation is incomplete. The private sector that displays ownership, network, and management patterns is also demonstrated.

Keywords: network capitalism; private sector; private firms; business systems; China; economy; Chinese culture; capital; human capital; social capital

Chapter.  9365 words.  Illustrated.

Subjects: International Business

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