Preface

Three decades of economic reform has allowed China to emerge on the global stage in a way that has been dramatic and astonishing for many observers. From a country largely irrelevant to global trade and investment, China became the second largest economy in 2010. As a result of the reform, economic globalization and increasingly fierce market competition, Chinese firms now face a more complex and volatile institutional environment at home. Many have also embarked on adventures abroad – outward foreign investment from China has soared during the past decade. Focusing on Chinese firms at home, in this book we ask: What are the respective roles of new rules of the market economy and what is the remaining legacy of the planned economy on ...

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