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Cadre-Capitalism Goes Global: Financial Market Reforms and the New Role for the People’s Republic of China in World Markets

In: The Emergence of Southern Multinationals

Author

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  • Jörn-Carsten Gottwald

Abstract

Chinese outward investment is making headlines: little-known Geely Automotive bids for Sweden’s carmaker and European middle-class insignia Volvo (BBC, 2009), a completely unknown company from Sichuan for American icon Hummer (Stall, Terlap and King, 2009). State-owned energy companies invest in African oil, and the government of EU member state Greece turns to China to avoid bankruptcy (Reuters, 2010a). Three decades after the leadership of the People’s Republic of China (PRC) initiated deep economic and social reforms, China joined other transition economies to emerge ‘as significant outward investors’ (UNCTAD, 2006: xxiii).

Suggested Citation

  • Jörn-Carsten Gottwald, 2011. "Cadre-Capitalism Goes Global: Financial Market Reforms and the New Role for the People’s Republic of China in World Markets," Palgrave Macmillan Books, in: Louis Brennan (ed.), The Emergence of Southern Multinationals, chapter 15, pages 281-300, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30616-5_15
    DOI: 10.1057/9780230306165_15
    as

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