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The Future of Chinese Capitalism: Choices and ChancesChoices and Chances$
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Gordon Redding and Michael A. Witt

Print publication date: 2010

Print ISBN-13: 9780199575879

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199575879.001.0001

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(p.182) 12 Germany
The Future of Chinese Capitalism: Choices and Chances

Gordon Redding

Michael A. Witt

Oxford University Press

This chapter describes Germany-style capitalism. The German business system is the most well-defined and strongest example of the collaborative capitalism commonly found in continental Europe, especially in the northern countries. Key themes are stakeholder value, coordination and structural inertia, delegation and interdependence, firm-specific skills, profession and vocation, and dual structure. While there are differences in the details, the German business system shares with Japan the propensity for incremental innovation. In addition, German firms tend to be strong in industries requiring extensive professional or vocational training. Some aspects of the German training system as well as the dual structure appear to be applicable and relevant to the Chinese context.

Keywords:   Germany, capitalism, business system, stakeholder value, firm-specific skills, structural inertia, interdependence, dual structure, delegation, collaborative capitalism

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