China's technological leapfrogging and economic catch-up : a Schumpeterian perspective /
"After a miraculous economic growth, spurred by the Beijing Consensus, China is now facing a slowdown. This book deals with the interesting issue of the middle-income trap--the phenomenon of the rapidly growing economy of a country stagnating at the middle-income level--in the context of China....
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| Format: | eBook |
| Language: | English |
| Published: |
Oxford :
Oxford University Press,
2021.
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| Edition: | First edition. |
| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | "After a miraculous economic growth, spurred by the Beijing Consensus, China is now facing a slowdown. This book deals with the interesting issue of the middle-income trap--the phenomenon of the rapidly growing economy of a country stagnating at the middle-income level--in the context of China. It also discusses China's limitations and future prospects, especially after the onset of a new "cold war" between China and the US, and in particular whether it would fall into the "Thucydides trap," the conflict between a rising power and the existing hegemon. This book plays around three key terms, the Beijing Consensus, the middle-income trap, and the Thucydides trap, and applies a Schumpeterian approach to these concepts. It also conducts a comparative analysis examining China from an "economic catch-up" perspective. Economic catch-up starts with learning from and imitating a forerunner, but a successful catch-up requires leapfrogging, which implies a latecomer doing something different from, and often ahead of, a forerunner. Technological leapfrogging may lead to technological catch-up, which means reducing the technological gap, and then to economic catch-up in living standards and economic size. This linkage between technological and economic catch-up corresponds exactly with a similar linkage between the Beijing Consensus and escaping (or not) the middle-income and Thucydides traps. The book concludes that China's successful rise as a global industrial power has been due to its strategy of technological leapfrogging, which has enabled it to move beyond the middle-income trap and possibly the Thucydides trap, although at a slower speed"--Publisher's description. |
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| Physical Description: | 1 online resource (704 pages) : illustrations, charts |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 9780191939860 0191939862 |