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Subsidies to Chinese IndustryState Capitalism, Business Strategy, and Trade Policy$
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Usha C.V. Haley and George T. Haley

Print publication date: 2013

Print ISBN-13: 9780199773749

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199773749.001.0001

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Subsidies, Business Strategy, and Trade Policy

Subsidies, Business Strategy, and Trade Policy

Chapter:
(p.154) Chapter 7 Subsidies, Business Strategy, and Trade Policy
Source:
Subsidies to Chinese Industry
Author(s):

Usha C. V. Haley

George T. Haley

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199773749.003.0163

Subsidies to Chinese industry have affected and are affected by business strategy and trade policy. Implications of industrial subsidies are explored for firms, the global economy and future research. Business strategies include lobbying for subsidies, advocating for protection from subsidized foreign competitors and managing supply chains to guard against uncoordinated subsidies’ whiplash effects. Free trade may lead to sub-optimal outcomes and protectionism can increase national income by raising firms' profitability in imperfect market. Once foreign firms fall behind, strategic trade policy should become top priority. Business strategies in response to production and consumption subsidies include market or competitive and non-market or political strategies; the solar industry is examined. Trade-policy instruments regarding subsidies focus on domestic consumption (antidumping and countervailing duties) or domestic production (indigenous innovation). Implications for firms including manufacturing location and technology development. For the global economy, regular boom and bust cycles from subsidies may become normal.

Keywords:   China, business strategy, trade policy, lobbying, non-market strategies, subsidies, antidumping, countervailing duties, indigenous innovation, solar industry

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