Covering a vast range of daily life - from homeowner organisations and the users of Internet cafés to self-directed professionals and informed consumers - the essays in 'Privatizing China' create a compelling picture of the burgeoning awareness of self-governing within the postsocialist context.
Everyday life in China is increasingly shaped by a novel mix of neoliberal and socialist elements, of individual choices and state objectives. This combination of self-determination and socialism from afar has incited profound changes in the ways individuals think and act in different spheres of society. Covering a vast range of daily life—from homeowner organizations and the users of Internet cafes to self-directed professionals and informed consumers—the essays in Privatizing China create a compelling picture of the burgeoning awareness of self-governing within the postsocialist context. The introduction by Aihwa Ong and Li Zhang presents assemblage as a concept for studying China as a unique postsocialist society created through interactions with global forms. The authors conduct their ethnographic fieldwork in a spectrum of domains—family, community, real estate, business, taxation, politics, labor, health, professions, religion, and consumption—that are infiltrated by new techniques of the self and yet also regulated by broader socialist norms. Privatizing China gives readers a grounded, fine-grained intimacy with the variety and complexity of everyday conduct in China's turbulent transformation.
Although China's centrally planned economy is a little more than a shadow of its former self, the closely inter-linked reforms of the enterprise and banking sectors are still incomplete. The relative size of the state-owned enterprise sector has been much reduced, however, the sector remains the dominant borrower from the banking system and is responsible for the majority of bank non-performing assets. Thus in the interests of financial stability it is crucial to implement the remaining reform agenda. The accession to the WTO has also made it more urgent for China's most-dynamic state-owned en.
PRIVATIZING CHINA INSIDE CHINA'S STOCK MARKETS In more depth than any other, this highly readable book lays bare why China's capital markets have fallen so far short of their promise. It is required reading for anyone seeking to understand the realities and the future of an extraordinary economic transformation. - James Kynge, Former Beijing Bureau Chief, Financial Times, Author, China Shakes the World Carl Walter and Fraser Howie bring together a wealth of experience to this complex and deeply important topic. Their book contains a mine of invaluable quantitative and qualitative information as well as an incredible depth of knowledge. It is essential reading for anyone investing in companies from mainland China. - Professor Peter Nolan, Judge Institute of Management Studies, University of Cambridge Privatizing China is essential for anyone who wants to understand China's companies and stock markets. no one should invest in China without reading it. - Arthur Kroeber, Managing Editor, China Economic Quarterly Carl Walter and Fraser Howie combine a deep knowledge of China and finance to provide an unflinching perspective on the country's effort to build functioning capital markets. China may have wowed the world with its high-speed economic growth and manufacturing prowess, but this book is compelling evidence that Beijing's mastery of the universe does not yet extend to the stock market. - Richard MacGregor, beijing Correspodent, FinancialTimes This book will answer many people's questions regarding SOEs and the stock market. I think it is destined to become the standard reference work on the subject. - Jean C. Oi, Director, Center for East Asian Studies, Stanford University
How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
A new revolution in homeownership and living has been sweeping the booming cities of China. This time the main actors on the social stage are not peasants, migrants, or working-class proletariats but middle-class professionals and entrepreneurs in search of a private paradise in a society now dominated by consumerism. No longer seeking happiness and fulfillment through collective sacrifice and socialist ideals, they hope to find material comfort and social distinction in newly constructed gated communities. This quest for the good life is profoundly transforming the physical and social landscapes of urban China. Li Zhang, who is from Kunming, the capital of Yunnan province, turns a keen ethnographic eye on her hometown. She combines her analysis of larger political and social issues with fine-grained details about the profound spatial, cultural, and political effects of the shift in the way Chinese urban residents live their lives and think about themselves. In Search of Paradise is a deeply informed account of how the rise of private homeownership is reconfiguring urban space, class subjects, gender selfhood, and ways of life in the reform era. New, seemingly individualistic lifestyles mark a dramatic move away from yearning for a social utopia under Maoist socialism. Yet the privatization of property and urban living have engendered a simultaneous movement of public engagement among homeowners as they confront the encroaching power of the developers. This double movement of privatized living and public sphere activism, Zhang finds, is a distinctive feature of the cultural politics of the middle classes in contemporary China. Theoretically sophisticated and highly accessible, Zhang's account will appeal not only to those interested in China but also to anyone interested in spatial politics, middle-class culture, and postsocialist governing in a globalizing world.
The transition from socialism in Eastern Europe is not an isolated event, but part of a larger shift in world capitalism: the transition from Fordism to flexible (or neoliberal) capitalism. Using a blend of ethnography and economic geography, Elizabeth C. Dunn shows how management technologies like niche marketing, accounting, audit, and standardization make up flexible capitalism's unique form of labor discipline. This new form of management constitutes some workers as self-auditing, self-regulating actors who are disembedded from a social context while defining others as too entwined in social relations and unable to self-manage.Privatizing Poland examines the effects privatization has on workers' self-concepts; how changes in "personhood" relate to economic and political transitions; and how globalization and foreign capital investment affect Eastern Europe's integration into the world economy. Dunn investigates these topics through a study of workers and changing management techniques at the Alima-Gerber factory in Rzeszów, Poland, formerly a state-owned enterprise, which was privatized by the Gerber Products Company of Fremont, Michigan.Alima-Gerber instituted rigid quality control, job evaluation, and training methods, and developed sophisticated distribution techniques. The core principle underlying these goals and strategies, the author finds, is the belief that in order to produce goods for a capitalist market, workers for a capitalist enterprise must also be produced. Working side-by-side with Alima-Gerber employees, Dunn saw firsthand how the new techniques attempted to change not only the organization of production, but also the workers' identities. Her seamless, engaging narrative shows how the employees resisted, redefined, and negotiated work processes for themselves.
Through window displays, newspapers, soap operas, gay bars, and other public culture venues, Chinese citizens are negotiating what it means to be cosmopolitan citizens of the world, with appropriate needs, aspirations, and longings. Lisa Rofel argues that the creation of such “desiring subjects” is at the core of China’s contingent, piece-by-piece reconfiguration of its relationship to a post-socialist world. In a study at once ethnographic, historical, and theoretical, she contends that neoliberal subjectivities are created through the production of various desires—material, sexual, and affective—and that it is largely through their engagements with public culture that people in China are imagining and practicing appropriate desires for the post-Mao era. Drawing on her research over the past two decades among urban residents and rural migrants in Hangzhou and Beijing, Rofel analyzes the meanings that individuals attach to various public cultural phenomena and what their interpretations say about their understandings of post-socialist China and their roles within it. She locates the first broad-based public debate about post-Mao social changes in the passionate dialogues about the popular 1991 television soap opera Yearnings. She describes how the emergence of gay identities and practices in China reveals connections to a transnational network of lesbians and gay men at the same time that it brings urban/rural and class divisions to the fore. The 1999–2001 negotiations over China’s entry into the World Trade Organization; a controversial women’s museum; the ways that young single women portray their longings in relation to the privations they imagine their mothers experienced; adjudications of the limits of self-interest in court cases related to homoerotic desire, intellectual property, and consumer fraud—Rofel reveals all of these as sites where desiring subjects come into being.
Over 630 million Chinese escaped poverty since the 1980s, the largest decrease in poverty in history. Studying 700 manufacturing firms in the Yangzi region, the authors argue that the engine of China’s economic miracle—private enterprise—did not originate at the top but bubbled up from below, overcoming initial obstacles set up by the government.