China’s industrial development model

Overview

China is nothing if not methodical in moving its industries forward, as it has shown with its railways policy and now its significant advance into civilian aviation. This process first sees industry-specific policy formulation at the Politburo level; then plans are drawn up by the government with specific goals and time schedules; finally comes implementation of these with funding through government bodies and state banks and allocation of work, mainly to state companies. Given the bad...