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Espinel, Vicente

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How did China move so swiftly in capital-intensive industries without labor-cost or scale advantage from bit player to the largest manufacturer and exporter in the world? This book argues that subsidies contributed significantly to China's success. Industrial subsidies in key Chinese manufacturing industries may exceed thirty percent of industrial output. Economic theories have mostly portrayed subsidies as distortive, inefficiently reallocating resources according to non-market criteria. However, China's state-capitalist regime uses subsidies to promote the governments' and the Communist Part

Industrial policy --- Industries --- Subsidies --- Capitalism --- Finance. --- China --- Commercial policy. --- Business subsidies --- Corporate subsidies --- Corporate welfare --- Government subsidies --- Grants --- Subventions --- Vouchers (Subsidies) --- Welfare, Corporate --- Government aid --- Foreign trade promotion --- Trade adjustment assistance --- Industrial production --- Industry --- Economics --- Finance --- E-books --- Industries, Primitive

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Capitalism --- Industrial policy --- Industries --- Subsidies --- China --- Finance --- Commercial policy.