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Paper Tigers, Hidden DragonsFirms and the Political Economy of China's Technological Development$
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Douglas B. Fuller

Print publication date: 2016

Print ISBN-13: 9780198777205

Published to Oxford Scholarship Online: August 2016

DOI: 10.1093/acprof:oso/9780198777205.001.0001

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China’s Global Hybrid Model for Development under Globalization

China’s Global Hybrid Model for Development under Globalization

(p.189) 7 China’s Global Hybrid Model for Development under Globalization
Paper Tigers, Hidden Dragons

Douglas B. Fuller

Oxford University Press

China’s experience in technology-intensive industries suggests a new model of development: the global hybrid model. The global hybrid model relies on hybrid firms combining foreign finance and shared ethnic ties with the host economy to drive technological development. This model offers ways to overcome market failure and government without relying on a highly effective state, the type of state notably absent from most of the developing world. The global hybrid model offers an important corrective to the current approaches to the political economy of development: the augmented Washington Consensus approach, the statist revisionist (developmental state) approach, and the transnational network approach. However, the global hybrid view is limited to those sectors with high clockspeeds, fragmented or disaggregated value chains (high modularization), and high technology intensity.

Keywords:   China, global hybrid model, Washington Consensus, modularity, transnational networks, political economy, state-led development, market failure, government failure, globalization

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