This article is based on the author’s new book, China, Inc.: How the Chinese Communist Party Transformed China into a Giant Corporation (Cambridge University Press, 2022). The author argues that leveraging its absolute power, low human rights advantage, and tolerance by other countries, the Chinese Communist Party has transformed China into a giant corporation. Living, working, and investing are not rights but privileges granted by the party. The party is the management of China, Inc., with the politburo standing committee as the board of directors and the party’s general secretary as the CEO. The various ministries are the functional departments of China, Inc. Residents in China are the employees of China, Inc.: they need the party’s approval for where to live, work, and invest. State-owned firms are business units or subsidiaries, private firms are joint ventures, and foreign firms are franchisees of the party.
China, Inc. enjoys the agility of a firm and the vast resources of a state. Meanwhile, foreign firms competing with Chinese firms can find themselves matched against the mighty Chinese state. The Rise of China, Inc. will interest many readers: it will compel business scholars to rethink state-firm relationships; assist multinational business practitioners in formulating effective strategies; aid policy-makers in countering China\u27s expansion; and inform the public of the massive corporate organization China has become, and how democracies can effectively deal with it
