special economic zone

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pages: 651 words: 135,818

China into Africa: trade, aid, and influence by Robert I. Rotberg

barriers to entry, BRICs, colonial rule, corporate governance, Deng Xiaoping, energy security, European colonialism, export processing zone, failed state, global supply chain, global value chain, income inequality, Khartoum Gordon, land reform, low interest rates, megacity, megaproject, microcredit, offshore financial centre, one-China policy, out of africa, Pearl River Delta, profit maximization, purchasing power parity, RAND corporation, Scramble for Africa, Shenzhen special economic zone , South China Sea, special economic zone, structural adjustment programs, subprime mortgage crisis, trade route, Washington Consensus, zero-sum game

Yehua Dennis Wei and Chi Kin Leung, “Development Zones, Foreign Investment, and Global City Formation in Shanghai,” Growth and Change, XXXVI (2005), 18. 5. Tatsuyuki Ota, “The Role of Special Economic Zones in China’s Economic Development as Compared with Asian Export Processing Zones: 1979–1995,” Asia in Extenso (2003), available at www.iae.univ-poitiers.fr/EURO-ASIE/Docs/Asia-in-Extenso-Ota-mars2003.pdf (accessed 8 February 2008). 6. Wei Ge, “Special Economic Zones and the Opening of the Chinese Economy: Some Lessons for Economic Liberalization,” World Development, XXVII (1999), 1270. 7. Ota, “Role of Special Economic Zones,” 19. 8. Ge, “Special Economic Zones,” 1272. 9. Ibid., 1277. 10. See “Beijing Declaration of the Forum on China-Africa Co-operation (Draft)” (17 November 2000), available at http://test.fmprc.gov.cn/eng/wjdt/2649/t15775.htm (accessed 24 April 2008); “Programme for China-Africa Cooperation in Economic and Social Development,” available at www.focac.org/eng/wjjh/hywj/t157834.htm (accessed 24 April 2008). 11.

Global Insight, “Woodside Spuds Offshore Well; Kenya’s Oil Future to Be Determined in 2007,” available at www.globalinsight.com/SDA/SDADetail7703.htm (accessed 7 January 2008). 07-7561-4 ch7.qxd 9/16/08 4:17 PM Page 137 martyn j. davies 7 Special Economic Zones: China’s Developmental Model Comes to Africa A new developmental model is in the process of being rolled out in key African countries—Special Economic Zones (SEZs). They provide liberalized investment environments focused on strategic industries to attract foreign companies. The model of dedicated geographical zones where investing companies enjoy preferential economic policies is by no means unique.

Investment in African manufacturing industries will be the next wave of Chinese investment on the 07-7561-4 ch7.qxd 9/16/08 4:17 PM Page 153 Special Economic Zones 153 continent. Initially, this approach will be centered on the SEZs, but it will expand to include the surrounding economy, market conditions allowing. Beijing envisions that these SEZs, serving as hubs for Chinese economic activity in Africa, will offer a package of favorable incentives for Chinese businesses and serve to reduce investment risk on the continent, while at the same time becoming the new growth nodes of the African economy. Notes 1. Gao Shangquan and Chi Fulin (eds.), New Progress in China’s Special Economic Zones (Beijing, 1997), 3. 2.


pages: 497 words: 144,283

Connectography: Mapping the Future of Global Civilization by Parag Khanna

"World Economic Forum" Davos, 1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 9 dash line, additive manufacturing, Admiral Zheng, affirmative action, agricultural Revolution, Airbnb, Albert Einstein, amateurs talk tactics, professionals talk logistics, Amazon Mechanical Turk, Anthropocene, Asian financial crisis, asset allocation, autonomous vehicles, banking crisis, Basel III, Berlin Wall, bitcoin, Black Swan, blockchain, borderless world, Boycotts of Israel, Branko Milanovic, BRICs, British Empire, business intelligence, call centre, capital controls, Carl Icahn, charter city, circular economy, clean water, cloud computing, collateralized debt obligation, commoditize, complexity theory, continuation of politics by other means, corporate governance, corporate social responsibility, credit crunch, crony capitalism, crowdsourcing, cryptocurrency, cuban missile crisis, data is the new oil, David Ricardo: comparative advantage, deglobalization, deindustrialization, dematerialisation, Deng Xiaoping, Detroit bankruptcy, digital capitalism, digital divide, digital map, disruptive innovation, diversification, Doha Development Round, driverless car, Easter island, edge city, Edward Snowden, Elon Musk, energy security, Ethereum, ethereum blockchain, European colonialism, eurozone crisis, export processing zone, failed state, Fairphone, Fall of the Berlin Wall, family office, Ferguson, Missouri, financial innovation, financial repression, fixed income, forward guidance, gentrification, geopolitical risk, global supply chain, global value chain, global village, Google Earth, Great Leap Forward, Hernando de Soto, high net worth, high-speed rail, Hyperloop, ice-free Arctic, if you build it, they will come, illegal immigration, income inequality, income per capita, industrial cluster, industrial robot, informal economy, Infrastructure as a Service, interest rate swap, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Isaac Newton, Jane Jacobs, Jaron Lanier, John von Neumann, Julian Assange, Just-in-time delivery, Kevin Kelly, Khyber Pass, Kibera, Kickstarter, LNG terminal, low cost airline, low earth orbit, low interest rates, manufacturing employment, mass affluent, mass immigration, megacity, Mercator projection, Metcalfe’s law, microcredit, middle-income trap, mittelstand, Monroe Doctrine, Multics, mutually assured destruction, Neal Stephenson, New Economic Geography, new economy, New Urbanism, off grid, offshore financial centre, oil rush, oil shale / tar sands, oil shock, openstreetmap, out of africa, Panamax, Parag Khanna, Peace of Westphalia, peak oil, Pearl River Delta, Peter Thiel, Philip Mirowski, Planet Labs, plutocrats, post-oil, post-Panamax, precautionary principle, private military company, purchasing power parity, quantum entanglement, Quicken Loans, QWERTY keyboard, race to the bottom, Rana Plaza, rent-seeking, reserve currency, Robert Gordon, Robert Shiller, Robert Solow, rolling blackouts, Ronald Coase, Scramble for Africa, Second Machine Age, sharing economy, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, six sigma, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, Stuxnet, supply-chain management, sustainable-tourism, systems thinking, TaskRabbit, tech worker, TED Talk, telepresence, the built environment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, Tim Cook: Apple, trade route, Tragedy of the Commons, transaction costs, Tyler Cowen, UNCLOS, uranium enrichment, urban planning, urban sprawl, vertical integration, WikiLeaks, Yochai Benkler, young professional, zero day

WORLD MIGRATION http://www.​pewglobal.​org/​2014/​09/​02/​global-migrant-stocks/ Pew Research Center’s interactive map shows migration figures based on origin and destination countries for the years 1990, 2000, 2010, and 2013. Insert To download color versions of the maps in the insert, click here. 1. THE NEW NODES: SPECIAL ECONOMIC ZONES (SEZS) MUSHROOM AROUND THE WORLD Credit pai1.1 Nearly four thousand special economic zones (SEZs), export processing zones (EPZs), free trade zones (FTZs), and other industrial hubs compete over global supply chains, boosting exports and helping economies climb the value chain. 2. CHINA BUILDS SUPPLY CHAIN COMPLEMENTARITIES ACROSS THE GLOBE Credit pai1.2 China is now the largest trade partner of more than twice as many countries as America. 3.

The World Bank identifies nineteen different terms for such zones such as “free trade zone,” “foreign trade zone,” “industrial free zone,” “free zone,” “maquiladora,” “export free zone,” “duty free export processing zone,” “special economic zone,” “tax free zone,” “tax free trade zone,” “investment promotion zone,” “free economic zone,” “free export zone,” “free export processing zone,” “privileged export zone,” and “industrial export processing zone.” Other studies have found up to sixty-six terms. 3. World Bank, “Special Economic Zones: Progress, Emerging Challenges, and Future Directions” (World Bank, 2011). 4. John D. Kasarda and Greg Lindsay, Aerotropolis: The Way We’ll Live Next (Farrar, Straus and Giroux, 2011). 5.

Tug-of-war represents the shift from a war between systems (capitalism versus communism) to a war within one collective supply chain system. While military warfare is a regular threat, tug-of-war is a perpetual reality—to be won by economic master planning rather than military doctrine. Around the world, thousands of new cities or special economic zones (SEZs) have been constructed to help societies get themselves on the map in the global tug-of-war. Another way this competitive connectivity takes place is through infrastructure alliances: connecting physically across borders and oceans through tight supply chain partnerships. China’s relentless pursuit of this strategy has elevated infrastructure to the status of a global good on par with America’s provision of security.


pages: 232 words: 76,830

Dreams of Leaving and Remaining by James Meek

"World Economic Forum" Davos, Affordable Care Act / Obamacare, agricultural Revolution, anti-communist, bank run, Boris Johnson, Brexit referendum, centre right, Corn Laws, corporate governance, Donald Trump, Elon Musk, Etonian, full employment, global supply chain, illegal immigration, Jeff Bezos, Jeremy Corbyn, Leo Hollis, low skilled workers, Martin Wolf, mega-rich, Neil Kinnock, North Sea oil, Northern Rock, obamacare, offshore financial centre, race to the bottom, Ronald Reagan, savings glut, Shenzhen special economic zone , Skype, sovereign wealth fund, special economic zone, Stephen Hawking, working-age population

They study here. They rent apartments.’ Criticism of the special economic zone system, which involves Poland essentially buying jobs on the global investment market in exchange for billions of euros in foregone corporation tax, is being heard more frequently from the Polish left. ‘You can think of them as industrial tax havens,’ said Iwo Augustynski, a Wrocław-based economist and activist with the left-wing party Razem. ‘When you look at levels of corporation tax in the EU, Poland has one of the lowest. When you look at the special economic zones, it’s effectively zero.’ You might assume that, because Skarbimierz is part of the Wałbrzych zone, it must be part of the town of Wałbrzych, or at least next to it.

Within its perimeter, local and international companies who set up factories and exported the goods overseas would be exempt from Irish tax and duties for twenty-five years. Companies liked this. Shannon got businesses and jobs. Variations of the (tax) free zone have since spread all over the world, from the maquiladoras of Mexico to the Shenzhen special economic zone, the incubator of China’s economic rise in the 1980s. ‘Shannon has been kind of an inspiration for Chinese leaders since then,’ Tom Kelleher, a near fifty-year veteran of Shannon Free Zone and its spin-out consultancies, told me. ‘The Chinese embassy in London was constantly bringing guys to Shannon, it was a kind of Lourdes to them.

Kelleher was one of the Shannon consultants hired to design a free zone for Poland in the 1990s. ‘I think Shenzhen had started at that stage, and somebody said: “If you want to make progress, a free zone is the answer.” The free zone was the way you went from communism to capitalism.’ The first ‘special economic zone’ in Poland opened in Mielec, in the south-east of the country, in 1995. The city had been devastated by the collapse of work at its main employer, an aircraft factory dependent on Soviet and Warsaw Pact military clients. The zone was deemed a success, and thirteen others followed, all centred on areas where the economic slump was especially deep.


pages: 239 words: 62,311

The Next Factory of the World: How Chinese Investment Is Reshaping Africa by Irene Yuan Sun

"World Economic Forum" Davos, asset light, barriers to entry, Bretton Woods, business logic, capital controls, clean water, Computer Numeric Control, deindustrialization, demographic dividend, Deng Xiaoping, Donald Trump, European colonialism, floating exchange rates, full employment, global supply chain, Great Leap Forward, invisible hand, job automation, low skilled workers, M-Pesa, manufacturing employment, means of production, mobile money, Multi Fibre Arrangement, post-industrial society, profit motive, purchasing power parity, race to the bottom, RAND corporation, Ronald Reagan, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Skype, special economic zone, structural adjustment programs, tacit knowledge, Triangle Shirtwaist Factory, union organizing, Washington Consensus, working-age population

Propublica, “The World Wide Web of Siemens’s Corruption,” https://www.propublica.org/special/the-world-wide-web-of-siemenss-corruption. 6. See Douglas Zhihua Zeng, “Global Experiences with Special Economic Zones: Focus on China and Africa,” Investing in Africa Forum, Addis Ababa, Ethiopia, February 2015, http://documents.worldbank.org/curated/en/810281468186872492/Global-experiences-with-special-economic-zones-focus-on-China-and-Africa. 7. Tim Maughan, “The Changing Face of Shenzhen, the World’s Gadget Factory,” Vice, August 19, 2015, http://motherboard.vice.com/read/beyond-foxconn-inside-shenzhen-the-worlds-gadget-factory. 8.

Yet its 100 million people have spent the past twenty-five years rebuilding from a convulsive decade of famines and “Red Terror” inflicted by a brutal Marxist dictatorship in the 1970s. Ethiopia today is transitioning to a market economy in a piecemeal way, with strict capital controls and state monopolies over many industries that call to mind no other country so much as China. It is no wonder that Chinese companies feel at home here, building special economic zones and investing in sectors deemed priorities by the Ethiopian government. Taken together, these four countries by no means constitute a representative picture of Africa, but they do give a flavor across several important dimensions: big, medium, and small countries; eastern, western, and southern Africa; resource-rich, resource-poor, and somewhere-in-between economies.

… Taken all together—the pressure and worry about global competition on one side, thin regulations and enforcement capacity on the other—the result is a combustible state of affairs that poses acute dangers to the health and well-being of Africans. Global competition tempts countries to give foreign investors ever more incentives to invest—tax holidays for attracting firms to special economic zones are a favorite these days—and possibly to not look too closely when labor or environmental incidents occur. This raises the specter of a sort of race to the bottom—that with the arrival of each new factory, labor and environmental standards will lower, and the benefits to receiving countries will decrease.


pages: 197 words: 49,240

Melting Pot or Civil War?: A Son of Immigrants Makes the Case Against Open Borders by Reihan Salam

Affordable Care Act / Obamacare, Bonfire of the Vanities, charter city, delayed gratification, Donald Trump, driverless car, Edward Glaeser, gentrification, ghettoisation, guest worker program, illegal immigration, immigration reform, income inequality, income per capita, industrial robot, interchangeable parts, job automation, low skilled workers, low-wage service sector, mass immigration, megacity, new economy, obamacare, open borders, open immigration, race to the bottom, self-driving car, Shenzhen special economic zone , Silicon Valley, special economic zone, two tier labour market, upwardly mobile, urban decay, working poor

Ultimately, the Jordanian government agreed to experiment with special economic zones,29 seeing them as a way to capitalize on its role as a safe haven and to contain some of the extraordinary social pressures involved in absorbing refugee migrants. Though it’s too early to say the experiment has been a success, it holds great promise. To really take off, though, these special economic zones will need capital, expertise, and market access from the United States and other rich countries. We would be foolish not to provide it. Still, these special economic zones wouldn’t be charter cities as Romer envisioned them.

Betts and Collier devised a more sustainable solution: Instead of herding refugees into camps where they are forced to subsist on aid, they called for the creation of special economic zones. Essentially, a consortium of countries, including all of the major western economies, would create financial incentives and trade concessions to spur industrial development in these zones, which would employ refugees and, in some number, citizens of the host country. With the help of the international community, these zones could become a hub for labor-intensive manufacturing and other kinds of productive economic activity. Ultimately, skills learned and firms established in these new special economic zones could be brought back to Syria once peace is reestablished there.

For years, the economist Paul Romer has championed the idea of “charter cities,” that is, new cities that are established with rules and institutions carefully designed to foster economic growth and upward mobility for the world’s poor.23 As an example, he points to the experience of Shenzhen, a teeming metropolis of more than ten million that as recently as 1980 was little more than a fishing village. To capture some of the dynamism of neighboring Hong Kong, the Chinese government established a special economic zone (SEZ) in Shenzhen that, over time, became a hub of labor-intensive manufacturing, and that has since evolved into a font of entrepreneurial growth. Of course, not all of China’s SEZs were so wildly successful, and one can’t expect SEZs created elsewhere to match Shenzhen. Nevertheless, Shenzhen offers an inspiring example, and capturing even a fraction of its success could do a great deal to boost incomes.


pages: 441 words: 113,244

Seasteading: How Floating Nations Will Restore the Environment, Enrich the Poor, Cure the Sick, and Liberate Humanity From Politicians by Joe Quirk, Patri Friedman

3D printing, access to a mobile phone, addicted to oil, Affordable Care Act / Obamacare, agricultural Revolution, Albert Einstein, barriers to entry, biodiversity loss, Biosphere 2, Branko Milanovic, British Empire, Buckminster Fuller, Burning Man, business climate, business cycle, business process, California gold rush, Celtic Tiger, Charles Lindbergh, clean water, Colonization of Mars, Dean Kamen, Deng Xiaoping, drone strike, Elon Musk, en.wikipedia.org, export processing zone, failed state, financial intermediation, Garrett Hardin, Gini coefficient, Great Leap Forward, happiness index / gross national happiness, income inequality, intentional community, Intergovernmental Panel on Climate Change (IPCC), joint-stock company, joint-stock limited liability company, Kickstarter, low skilled workers, Machinery of Freedom by David Friedman, Mark Zuckerberg, megacity, megaproject, minimum wage unemployment, Neil Armstrong, Network effects, new economy, obamacare, ocean acidification, off-the-grid, offshore financial centre, One Laptop per Child (OLPC), open borders, Patri Friedman, paypal mafia, peak oil, Peter H. Diamandis: Planetary Resources, Peter Thiel, price stability, profit motive, radical decentralization, Ronald Coase, Ronald Reagan, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, special economic zone, standardized shipping container, stem cell, TechCrunch disrupt, TED Talk, trade route, Tragedy of the Commons, UNCLOS, UNCLOS, undersea cable, young professional

., January 27, 2012, www.cityam.com/article/free-cities-how-countries-worldwide-are-unleashing-new-economic-prosperity. one year after it was designated an SEZ, Shenzhen accounted for 50.6 percent of all foreign direct investment in China: D. Wall, “China’s Economic Reform and Opening-Up Process: The Role of the Special Economic Zones,” Development Policy Review 11, no. 3 (1993): 243–60. See also Yeung, Lee, and Kee, “China’s Special Economic Zones at 30,” 222–40. Shenzhen’s industrial output increased 1,256-fold: M. Cracian, “Shenzhen Speed,” New Perspectives Quarterly 17, no. 4 (Fall 2000), www.digitalnpq.org/archive/2000_fall/shenzhen.html. “As indicated by the 1,256-fold increase in Shenzhen’s industrial output between 1979 and 1995, the sudden influx of capital investment was beyond imagination.”

Remember this answer the next time somebody predicts large nations will invade seasteads. China didn’t attack. It learned and adapted. Chinese leaders were so impressed by the Hong Kong experiment, leader Deng Xiaoping announced China’s new “open door” policy in December 1978. In 1980 it designated four “special economic zones,” or SEZs, which curled along the crescent of China coastline. The first was Shenzhen, established just across the river from Hong Kong, followed quickly by Zhuhai, Shantou, and Xiamen. Sudden growth in these SEZs was so startling, only four years later, former Communist strongmen designated fourteen coastal cities to be SEZs, triggering the construction of modern container ports, which would come in handy as China began to produce and export the goods that drove a cornucopia of consumer goods for the West.

The example of Western goods, and the fresh sound of exuberance arriving with Beatles music, drove a black economy that was more vibrant than the state-sanctioned economy, and it became obvious to everyone, even the leaders, that economic freedom worked better for everyone. Even an empire needs a robust economy to feed its military. Asian hyperaccelerations of wealth sparked the beginnings of a movement around the world to establish special economic zones, usually designed to encourage foreign private investors through lower taxes and tariffs. The rush of small states to embarrass former empires was under way. The island of Ireland, one of Europe’s poorest countries for more than two centuries, set a new economic policy favoring open markets in the 1990s, and by the end of the decade, “the Celtic Tiger” had surpassed the per capita wealth of the United Kingdom.


pages: 496 words: 131,938

The Future Is Asian by Parag Khanna

3D printing, Admiral Zheng, affirmative action, Airbnb, Amazon Web Services, anti-communist, Asian financial crisis, asset-backed security, augmented reality, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Basel III, bike sharing, birth tourism , blockchain, Boycotts of Israel, Branko Milanovic, British Empire, call centre, capital controls, carbon footprint, cashless society, clean tech, clean water, cloud computing, colonial rule, commodity super cycle, computer vision, connected car, corporate governance, CRISPR, crony capitalism, cross-border payments, currency peg, death from overwork, deindustrialization, Deng Xiaoping, Didi Chuxing, Dissolution of the Soviet Union, Donald Trump, driverless car, dual-use technology, energy security, European colonialism, factory automation, failed state, fake news, falling living standards, family office, financial engineering, fixed income, flex fuel, gig economy, global reserve currency, global supply chain, Great Leap Forward, green transition, haute couture, haute cuisine, illegal immigration, impact investing, income inequality, industrial robot, informal economy, initial coin offering, Internet of things, karōshi / gwarosa / guolaosi, Kevin Kelly, Kickstarter, knowledge worker, light touch regulation, low cost airline, low skilled workers, Lyft, machine translation, Malacca Straits, Marc Benioff, Mark Zuckerberg, Masayoshi Son, megacity, megaproject, middle-income trap, Mikhail Gorbachev, money market fund, Monroe Doctrine, mortgage debt, natural language processing, Netflix Prize, new economy, off grid, oil shale / tar sands, open economy, Parag Khanna, payday loans, Pearl River Delta, prediction markets, purchasing power parity, race to the bottom, RAND corporation, rent-seeking, reserve currency, ride hailing / ride sharing, Ronald Reagan, Salesforce, Scramble for Africa, self-driving car, Shenzhen special economic zone , Silicon Valley, smart cities, SoftBank, South China Sea, sovereign wealth fund, special economic zone, stem cell, Steve Jobs, Steven Pinker, supply-chain management, sustainable-tourism, synthetic biology, systems thinking, tech billionaire, tech worker, trade liberalization, trade route, transaction costs, Travis Kalanick, uber lyft, upwardly mobile, urban planning, Vision Fund, warehouse robotics, Washington Consensus, working-age population, Yom Kippur War

Starting in 1978, Mao’s successor, Deng Xiaoping, sought to blend socialism with the opportunities of the global economy. He decollectivized agriculture, allowed private enterprise, and opened the country to foreign trade and investment as the “tiger” economies had done in the preceding decade. In May 1980, Shenzhen in the Pearl River delta became the first Chinese Special Economic Zone, luring foreign capital with tax exemptions and light regulation. It rapidly achieved a 30 percent annual growth rate and mushroomed from a village with a population of 30,000 to a bustling city of 10 million. While making China the leading developing-country destination for foreign investment, Deng also signed a landmark Treaty of Peace and Friendship with Japan and improved ties with both the US and USSR.

Russia’s largest private equity funds, such as Sistema, are not only expanding their agriculture and infrastructure portfolios but also opening more Asian offices to attract investment to Russia’s eastern frontier. Russia is Asia’s twenty-first-century breadbasket. To connect Russia’s expanding food output to Asia’s demand, Japan, China, and South Korea have each found a role, turning Russia’s Far Eastern capital of Vladivostok (“Lord of the East”) into a special economic zone for food processing and export. Vladivostok lies on a sliver of eastern Russia that blocks northeast China from having its own port on the Sea of Japan; hence China must use Russia’s port. The other growth business in Vladivostok is casinos, owned and operated by Chinese hospitality magnates for high rollers coming from nearby Harbin, from which China is upgrading the railway line.

Saudi Arabia has begun the construction of a $500 billion city called Neom located at its border with Jordan to assert its commercial reach into the Mashriq region. Jordan also became a founding member of the AIIB, rewarded with immediate approval of financing to construct new shale-oil and renewable-energy power plants, a special economic zone for manufacturing and logistics near the strategic port of Aqaba, and a $3 billion deal for China to build a national railway network. Within a decade, the old Ottoman-era Hejaz Railway will become part of the new Asian Silk Road network. Israel is also working to draw more support from across Asia.


pages: 247 words: 68,918

The End of the Free Market: Who Wins the War Between States and Corporations? by Ian Bremmer

"World Economic Forum" Davos, affirmative action, Asian financial crisis, banking crisis, Berlin Wall, BRICs, British Empire, centre right, collective bargaining, corporate governance, creative destruction, credit crunch, Credit Default Swap, cuban missile crisis, Deng Xiaoping, diversified portfolio, Doha Development Round, Exxon Valdez, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, Glass-Steagall Act, global reserve currency, global supply chain, household responsibility system, invisible hand, joint-stock company, Joseph Schumpeter, Kickstarter, laissez-faire capitalism, low skilled workers, mass immigration, means of production, megacity, Mikhail Gorbachev, military-industrial complex, mutually assured destruction, Naomi Klein, Nelson Mandela, new economy, offshore financial centre, open economy, race to the bottom, reserve currency, risk tolerance, Savings and loan crisis, shareholder value, Shenzhen special economic zone , South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, The Wealth of Nations by Adam Smith, too big to fail, trade liberalization, trade route, tulip mania, uranium enrichment, Washington Consensus, Yom Kippur War, zero-sum game

But the U.S. move to the left was a relatively modest one, as the Obama administration spent much of 2009 wrestling with the political and economic forces that limit any American president’s ability to bring about change within a system with strong checks and balances. For a much larger move along the spectrum, think of Russia’s transition from communism in the 1980s to capitalist chaos in the 1990s or of China’s creation of “special economic zones” in the late 1970s and 1980s, small experiments with capitalism, which produced big results that were eventually extended throughout much of the country. With far fewer limits on its power than an American president must accept, the Chinese Communist Party has made a significant shift from left to right over the past thirty years—though as we’ll see, there’s a limit to how far China’s leadership has been willing to travel.

Deng himself described the pragmatic experimental-ism of his plan as “feeling for rocks while crossing a river.” The first decade of reform yielded promising preliminary results. Deng’s increasingly ambitious plans, which came to be called “reform and opening up,” began with the establishment in several cities along China’s east coast of “special economic zones” (SEZs), isolated laboratories of carefully managed capitalism, where foreign firms were invited to invest on highly attractive terms. Success in these zones led to the creation of many more. The state abandoned hopelessly inefficient collective farming and created a “household responsibility” system that allowed farmers who had fulfilled their production quotas to sell any extra produce at market prices.

Deng and Zhao developed other policies that encouraged the growth of private commerce. In the countryside, township and village enterprises bloomed. In cities, small privately owned businesses began to flourish. Entrepreneurialism expanded, and average incomes began to rise. Along the coast, the special economic zones helped cities like Shenzhen and Guangzhou transform almost overnight from stagnant backwaters into modern manufacturing powerhouses. Behind all this experimentation was a determination to go slow, to avoid the kind of “shock therapy” that might destabilize the country. The state tinkered with various sets of incentives and restrictions to determine what worked and what didn’t.


pages: 91 words: 26,009

Capitalism: A Ghost Story by Arundhati Roy

activist fund / activist shareholder / activist investor, Bretton Woods, corporate governance, feminist movement, Frank Gehry, ghettoisation, Howard Zinn, informal economy, land bank, land reform, Mahatma Gandhi, means of production, megacity, microcredit, Nelson Mandela, neoliberal agenda, Occupy movement, RAND corporation, reserve currency, special economic zone, spectrum auction, stem cell, The Chicago School, Washington Consensus, WikiLeaks

Capitalism, he said, “has conjured up such gigantic means of production and of exchange, that it is like the sorcerer who is no longer able to control the powers of the netherworld whom he has called up by his spells.”3 In India the 300 million of us who belong to the new, post–International Monetary Fund (IMF) “reforms” middle class—the market—live side by side with spirits of the netherworld, the poltergeists of dead rivers, dry wells, bald mountains, and denuded forests; the ghosts of 250,000 debt-ridden farmers who have killed themselves, and of the 800 million who have been impoverished and dispossessed to make way for us.4 And who survive on less than twenty Indian rupees a day.5 Mukesh Ambani is personally worth $20 billion.6 He holds a majority controlling share in Reliance Industries Limited (RIL), a company with a market capitalization of $47 billion and global business interests that include petrochemicals, oil, natural gas, polyester fiber, Special Economic Zones, fresh food retail, high schools, life sciences research, and stem cell storage services. RIL recently bought 95 percent shares in Infotel, a TV consortium that controls twenty-seven TV news and entertainment channels, including CNN-IBN, IBN Live, CNBC, IBN Lokmat, and ETV in almost every regional language.7 Infotel owns the only nationwide license for 4G broadband, a high-speed information pipeline which, if the technology works, could be the future of information exchange.8 Mr.

All over the world, weak, corrupt local governments have helped Wall Street brokers, agribusiness corporations, and Chinese billionaires to amass huge tracts of land. (Of course this entails commandeering water too.) In India the land of millions of people is being acquired and handed over to private corporations for “public interest”—for Special Economic Zones (SEZs), infrastructure projects, dams, highways, car manufacture, chemical hubs, and Formula One racing.10 (The sanctity of private property never applies to the poor.) As always, local people are promised that their displacement from their land and the expropriation of everything they ever had is actually part of employment generation.

Kabir, run by Arvind Kejriwal and Manish Sisodia, key figures in Team Anna, has received $400,000 from the Ford Foundation in the last three years.6 Among contributors to the India Against Corruption campaign there are Indian companies and foundations that own aluminum plants, build ports and Special Economic Zones (SEZs), run real estate businesses, and are closely connected to politicians who oversee financial empires that run into thousands of crores of rupees. Some of them are currently being investigated for corruption and other crimes. Why are they all so enthusiastic? Remember, the campaign for the Jan Lokpal Bill gathered steam around the same time as embarrassing revelations by Wiki­leaks and a series of scams, including the 2G spectrum scam, broke, in which major corporations, senior journalists, and government ministers and politicians from the Congress as well as the BJP seem to have colluded in various ways as hundreds of thousands of crores of rupees were being siphoned off from the public exchequer.


pages: 780 words: 168,782

Strange Rebels: 1979 and the Birth of the 21st Century by Christian Caryl

Alvin Toffler, anti-communist, Ayatollah Khomeini, Berlin Wall, Boeing 747, Bretton Woods, British Empire, colonial rule, Deng Xiaoping, disinformation, export processing zone, financial deregulation, financial independence, friendly fire, full employment, Future Shock, Great Leap Forward, household responsibility system, income inequality, industrial robot, Internet Archive, Kickstarter, land reform, land tenure, Les Trente Glorieuses, liberal capitalism, liberation theology, Mahatma Gandhi, means of production, Mikhail Gorbachev, Mohammed Bouazizi, Mont Pelerin Society, Neil Kinnock, new economy, New Urbanism, oil shock, open borders, open economy, Pearl River Delta, plutocrats, price stability, rent control, road to serfdom, Ronald Reagan, Shenzhen special economic zone , single-payer health, special economic zone, The Chicago School, union organizing, upwardly mobile, Winter of Discontent, Xiaogang Anhui farmers, Yom Kippur War

Bruce and Zongmin Li, International Food Policy Research Institute, Washington, DC, 2009, http://www.ifpri.org/publication/crossing-river-while-feeling-rocks. 2. Fujian was also home to the Xiamen Special Economic Zone, the only SEZ created in 1979 that was outside of Guangdong Province. 3. “The Course of China’s Rural Reform,” Du Runsheng, International Food Policy Research Institute, 2006, 6, http://www.ifpri.org/sites/default/files/publications/oc52.pdf. 4. Capitalism with Chinese Characteristics, Huang Yasheng, 50–100. 5. Special Economic Zones and the Economic Transition in China, Wei Ge, 47. 6. Ibid., 49. 7. Ibid., 47. 8. Ibid., 68. 9. Ibid., 75. 10. The Search for Modern China, Jonathan Spence, 715–716. 11.

At the end of 1978, the septuagenarian Chinese Communist Party leader Deng Xiaoping heaved himself into the top job, and in the months that followed he and his comrades introduced a series of economic reforms that ultimately changed the country beyond all recognition. Emulating other East Asian success stories like Singapore, Hong Kong, and Taiwan, party leaders laid the groundwork for “Special Economic Zones” that would invite in foreign capital and technology. They allowed private entrepreneurs to found small companies and opened up the country to an influx of information from the outside world. And in the all-important countryside, where the overwhelming majority of Chinese still lived, Deng and his colleagues began to allow the dissolution of the collective farms set up by Mao Zedong and permitted the peasantry to return to their old system of family farming.

The villagers, however, were extremely happy. When the production line was inaugurated, they killed a dog—a much-valued local delicacy—for a banquet to celebrate the occasion. The somewhat more fastidious Hong Kongers were bemused.32 The founding of Feng’s factory preceded the formal establishment of the Special Economic Zones (SEZ) on August 26, 1979—and that, in itself, says quite a lot about how development in China was progressing at this time. Even as Guangdong was pressing Beijing for formal latitude to manage its own affairs and attract foreign investors, the first contacts between the province and foreign investors were already being made.33 These areas were granted exceptional conditions to attract foreign investment, but they could also be easily quarantined from society as a whole.


China's Superbank by Henry Sanderson, Michael Forsythe

"World Economic Forum" Davos, addicted to oil, Asian financial crisis, Bretton Woods, BRICs, Carmen Reinhart, Credit Default Swap, deindustrialization, Deng Xiaoping, Dutch auction, failed state, financial innovation, financial repression, fixed income, Great Leap Forward, high-speed rail, if you build it, they will come, income inequality, invisible hand, joint-stock company, junk bonds, Kenneth Rogoff, land bank, London Interbank Offered Rate, low interest rates, megacity, new economy, New Urbanism, price mechanism, race to the bottom, reserve currency, Ronald Reagan, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Solyndra, South Sea Bubble, sovereign wealth fund, special drawing rights, special economic zone, too big to fail, urban renewal, urban sprawl, work culture

He took only one recorded foreign visit in his life, to Moscow, and lived in the same old house in western Beijing for 30 years, which he refused to get repaired despite its leaky roof.7 His early memories of Shanghai and the inequalities it embodied stayed with him for the rest of his life and influenced his view to slow down the opening of China’s economy to the market in the early 1980s, with worries that the new special economic zones would allow foreign capitalists back in and spread corruption.8 Unlike other top leaders, Chen never visited the zones, and opposed the opening of one in the now-quiet city of Shanghai despite its long history of industry.9 One of the few times he became visibly angry was when he heard about a huge scandal in the southern province of Guangdong, where China’s manufacturing boom would emerge from the economic zone of Shenzhen.10 As the elder Chen retired in the early 1990s and China followed a path of greater openness and economic growth thanks to a final push by the aging patriarch, who had stressed that markets were not the same as capitalism and could exist under socialism, his son Chen Yuan began to court international financiers.

“Chen Weihua: Reading My Father Chen Yun,” China Youth Daily, September 5, 2011. 8. “Chen Yun, Who Slowed China’s Shift to Market, Dies at 89,” New York Times, April 12, 1995. 9. Ezra F. Vogel, Deng Xiaoping and the Transformation of China, p. 412. Chen Yun said: “Now every province of China wants to set up special economic zones. If they are allowed to do so, foreign capitalists as well as domestic speculators at home will come out boldly and engage in speculation and profiteering. Therefore we should not do things this way.” 10. Ibid. 11. This anecdote appeared in Richard McGregor, The Party (New York: HarperCollins, 2010). 12. www.lebal.fr/portfolio/le-bal-des-debutantes-2006/ 13.

It’s another example of the bank’s powerful influence across the globe. Besides the leather factory, the bank’s Africa fund has invested in a large glass factory on the outskirts of Ethiopia’s capital, as well as a cement factory, and is considering investing in a new economic zone based on China’s Special Economic Zones that helped propel its growth from 30 years ago. Aided by Chinese demand for its exports and raw materials, Africa has experienced its best decade and a half of economic growth since independence from colonialism. CDB is helping to change failed development policies by stimulating manufacturing and building much-needed infrastructure that many countries require to have a chance to compete in the next stage of economic growth.


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Belt and Road: A Chinese World Order by Bruno Maçães

"World Economic Forum" Davos, active measures, Admiral Zheng, autonomous vehicles, Branko Milanovic, BRICs, cloud computing, deindustrialization, demographic dividend, Deng Xiaoping, different worldview, Donald Trump, energy security, European colonialism, eurozone crisis, export processing zone, Francis Fukuyama: the end of history, global supply chain, global value chain, high-speed rail, industrial cluster, industrial robot, Internet of things, Kenneth Rogoff, land reform, liberal world order, Malacca Straits, middle-income trap, one-China policy, Pearl River Delta, public intellectual, smart cities, South China Sea, sovereign wealth fund, special economic zone, subprime mortgage crisis, trade liberalization, trade route, zero-sum game

In June 2018 the Vietnamese government requested the National Assembly to postpone the bill on Special Economic Zones, saying it needed more time to ensure that it meets the aspirations of both legislators and the public among concerns about the potential undermining of national security and violation of sovereignty if foreign investors, especially Chinese, are allowed to rent land for up to 99 years in these areas. Myanmar is now seeking to take on no new loans from China to complete the Kyaukpyu Special Economic Zone and would offer the developer no sovereign guarantees to mitigate risk if it does, according to the project’s new chairman, U Set Aung.

While actively involved in developing Belt and Road alternatives, Japan has signalled its willingness to cooperate with China in infrastructure and industrial projects in third countries. In May 2018, for example, government representatives of China, Japan and Thailand announced their intention to pursue business collaboration in the Eastern Economic Corridor, a special economic zone along Thailand’s eastern seaboard which is being heavily promoted by the military junta. Another candidate project in Thailand is aimed at extending the Bangkok Mass Transit System, which currently links Phaya Thai Station in central Bangkok with Suvarnabhumi Airport, to another airport in a suburb 50 kilometers distant.

In 2016 the initiative was expanded to provide up to $200 billion globally over five years. It remains the only direct rival to the Belt and Road. Its dedicated projects include the Mombasa Port development project in Kenya, the Nacala port in Mozambique, the Mumbai-Ahmedabad high-speed railway in India, the Thilawa special economic zone in Myanmar, the Matarbari port and power station in Bangladesh, and the digital grid project in Tanzania. It is part of Japan’s strategy of ambiguity not to actively promote its projects, so they often fly under the radar, although many actually exceed their Chinese rivals in scale and ambition


pages: 164 words: 44,947

Socialism Sucks: Two Economists Drink Their Way Through the Unfree World by Robert Lawson, Benjamin Powell

Airbnb, anti-communist, Berlin Wall, Bernie Sanders, Black Lives Matter, business cycle, cognitive dissonance, crony capitalism, Deng Xiaoping, Donald Trump, en.wikipedia.org, equal pay for equal work, Fall of the Berlin Wall, Gini coefficient, Great Leap Forward, hiring and firing, illegal immigration, income inequality, indoor plumbing, invisible hand, Kickstarter, means of production, Mont Pelerin Society, profit motive, road to serfdom, Ronald Reagan, single-payer health, special economic zone, The Wealth of Nations by Adam Smith

I gestured drunkenly in its direction and told Bob, “You know, your index misses a lot of that.” That’s because Bob’s index measures policies mostly at the national level, so it can underestimate the contribution of a place like Pudong, which is a special economic zone (SEZ) with certain commercial privileges. Shanghai and thirteen other cities became SEZs in 1984, and Pudong became one in 1993. Special economic zones pay no customs duties on internationally traded goods, are exempt from income taxes, and have a host of other pro-capitalism rules that the rest of China hasn’t yet adopted. Pudong is also included in the Lujiazui Finance and Trade Zone, which grants additional freedoms to foreign financial institutions and banks.

Oh well, capitalism usually provides, but even capitalism can’t always overcome problems stemming from university bureaucracies. Ben takes a break from drinking with Bob’s SMU students in definitely not-socialist Shanghai. The Pudong district across the river behind him was a slum before 1993, when it became a special economic zone with greater economic freedoms and immediately began transforming into the rich, developed city you see here. China’s economic development since 1978 is one of the greatest successes of its kind in human history. In sheer numbers, more people have escaped from extreme poverty, defined as earning less than two dollars a day, than at any other time or place.

Michael, 48 Coyne, Chris, 135 Crisis and Leviathan (Higgs), 136 Cristal (beer), 35 Cuba effects of central planning in, 34–41, 45 health care in, 16, 52–53 import restrictions, 49–50 private businesses in, 42–43, 45–47 travel restrictions, 33 Cuban Revolution, 131 Cúcuta, 17, 25, 30 Cultural Revolution, 75–76, 79 Current Affairs, 137 D Dandong, 61–62, 66 Dean, Andrea, 56 deBoer, Fredrik, 138 demilitarized zone (DMZ), 65, 69 Democratic Party, 9–10, 144 Democratic People’s Republic of Korea, 59 democratic socialism, 2, 9, 16, 32, 126–27, 138–39, 146 Deng Xiaoping, 76, 79 Denmark, 10 Dikötter, Frank, 73–75, 150 Duranty, Walter, 92–95 Duvel Café, 5, 10–11 E Eastern Bloc, 85, 126 economic freedom index, 6, 10–11, 20, 63, 79, 99–100, 110, 136 Economic Freedom Network (EFN), 99, 102 Economic Freedom of the World report, 99, 151 economic freedom, 4, 11, 13, 20, 30, 56, 78–80, 105, 108, 110, 112–14, 117, 150 Ecuador, 17 Egypt, 15 El Guajirito, 45–47 Empresas Polar, 26 Erekle (king), 104 Expert Failure (Koppl), 136 F Federal Reserve, 2–3 Fisher, Michelle, 9 Florida State University, 6 Forbidden City, 72 Foreign Policy, 27 foreign-market prices, 37 Fortune Global 500, 64 Fox News, 134 Fraser Institute, 6 Free Market Institute, 7 free markets, 7, 21, 78, 116, 133, 136 Free the People, 141 free-market prices, 21, 37, 48, 88 FreedomWorks, 142 Friedman, Milton, 6–7, 30, 82, 148 G George Mason University, 7 Georgetown University, 137 Georgia (country) Law on Economic Freedom, 114 liberal reforms in, 99, 106–110, 113 ranking on economic freedom index, 110 Ukrainian government in, 101–102 winemaking in, 111–12 Georgian Soviet Socialist Republic, 105 Ghodsee, Kristen, 96 Gini coefficient, 124 Glover, Danny, 1 Gohmann, Steve, 64 grassroots movements, 141–43 Gray, Francine du Plessix, 96–98 Great Britain, 73 Great Leap Forward, 13, 73–76 Grier, Kevin, 28 gross domestic product (GDP), 2, 12–13, 49, 63, 114, 134 Guardian, The, 94 Guevara, Che, 9, 54 Guiadó, Juan, 31 Gwartney, James, 6 H Hall, Joshua, 11 Han River, 65 Harvard, 8 Harvest of Sorrow, The (Conquest), 95 Haverhill, 6 Hayek, Friedrich, 7, 30, 150 Hierta, Lars Johan, 11–12 Higgs, Robert, 136 Hobbs, Brad, 12 Hotel Caribbean, 44, 47 Hotel Ibis, 77 Hotel Metropol, 92 Hotel Nacional, 34, 71 Hotel Neptuno Tritón, 34 Huangpu River, 77 HuffPost, 53 Human Action (von Mises), 100 Hyundai-Kia, 64 I immigration, 122, 134–35, 146 In Order to Live (Yeonmi Park), 60 Incheon International Airport, 63 Independence Square, 101 International Black Sea University, 112 International Monetary Fund, 109 International Socialist Organization (ISO), 123, 125–26 Intourist Hotel, 107 invisible hand, 21 J Jandieri, Gia, 105, 116 Jones, Gareth, 94 K KGB, 89 khachapuri, 116 Khevsureti, 110 khinkali, 116 Khomassuridze, Archil, 97–98 Khrushchev, Nikita, 73 Kibbe, Matt, 141–48 Kiev, 98–102, 117 Kim Il-Sung, 125 Koppl, Roger, 136 Korean War, 63, 65 Kremlin, 89 L La Cabaña prison, 54 La Habana Vieja (Old Havana), 38, 40 Lada, 38, 50 Le Cabernet, 72 Leeson, Peter, 56 Lenin, Vladimir, 9, 16, 89–91, 114–15, 125, 128, 131 Leningrad, 98 LG, 64 libertarianism, 59, 106, 123, 144–47 Lipovskaya, Olga, 97 Little Havana, 56 Little Red Book, 73 Lujiazui Finance and Trade Zone, 80 Luxemburg, Rosa, 125 M Ma Junjie, 81 Macasa, Diana, 123 Maduro, Nicolás, 30–32, 127 Major, John, 120 Maldonado, Víctor, 25 Malecón, 43, 53 Mao Yushi, 82 Mao Zedong, 9, 73–76, 81, 95, 115, 125 Mao’s Great Famine (Dikötter), 73, 150 Marginal Revolution, 86 market prices, 18, 21, 37, 88 Martin, Sabrina, 24–25 Marx, Karl, 86–88, 122, 125, 131, 139 Marxism alienation, 87 labor theory of value, 86–87 theory of history, 88 means of production, 13, 37, 87–88, 90, 121, 124, 126, 128–29, 137–39, 147 Mediterranean, 103 Mendoza, Lorenzo, 26 Mi Amigo Hugo, 27 Miami, 33, 52, 56–57, 134, 155 millennials, 8–10, 120, 138 Milton Friedman Prize for Advancing Liberty, 82 Mises, Ludwig von, 37, 100, 150 Mont Pelerin Society, 7, 64 Mont Pelerin, 7 Moore, Michael, 1, 13, 27 Moscow, 85, 92, 100, 111, 154 Moskvitch, 50 Muggeridge, Malcolm, 94 N Nation, The, 121 National Assembly (Venezeula), 31 National Bank of Cuba, 55 Nazi Germany, 37 New Economic Policy (NEP), 91, 93 New Economic School, 104–105, 116 New Hampshire, 15 New York Times, 9–10, 30, 92, 94–96 Nobel Prize, 6–7 Norberg, Johan, 11 North American Free Trade Agreement (NAFTA), 133 North Korea border with South Korea, 65 contrast between China and, 59, 69 contrast between South Korea and, 62–63, 69, 124 poverty in, 68 refugees from, 60–61 socialism in, 13, 16, 31, 63, 67, 125 Norway, 10–11 Novotel Beijing Peace Hotel, 72 O O’Neil Center for Global Markets and Freedom, 6 Obama, Barack, 33, 55 Ocasio-Cortez, Alexandria (AOC), 143–44, 147 OECD, 13 Oriental Pearl Tower, 77 Orwell, George, 102 P PanAm Post, 18 Parajanov, Sergei, 111 Park, Yeonmi, 60, 68 Patriots, 7 Paul, Rand, 145 Paul, Ron, 142–47 Peng, Dean, 59, 72 Penn, Sean, 1, 27, 128 People’s Republic of China, 59, 73 Pessin, Haley, 121 Petroleos de Venezuela SA, 31 Peugeot, 51–52 Plaza de la Revolución, 54 Plaza Mayor, 43 private property, 10, 13, 21, 37, 45, 78–79, 87, 108–110, 121, 128, 130, 138–39 proletariat, 88, 92 Pudong, 77–78, 80 Puerto Esperanza, 50, 52 Putin, Vladimir, 102 Pyongyang, 65, 69, 85 R Rand, Ayn, 81 Reagan, Ronald, 120 Red Army, 104 Red Century column, 9, 92, 95 Red Guard, 76 Red Spots, 31 Red Square, 89 Red Terror, 89 Republican Party, 142–44 Reuters, 23, 31 Revolution Brewing, 130 Revolutionary Committee of the Don, 90 Río Táchira, 17 Road to Serfdom, The (Hayek), 30, 150 Robinson, Nathan, 137–38 Romanchuk, Jaroslav, 99 Romero, Denise, 121, 132, 135 Rose Revolution, 105, 113 Russia agricultural collectivization in, 93–95 life for women in Soviet, 96–98 Russian Civil War, 89 Russian famine, 90, 93–95 S Saakashvili, Mikheil (Misha), 101–102, 105–106, 114–15, 117 Salon, 1, 17 Salt Lake City, 7 Samsung, 64 San Jose State University, 7 Sanders, Bernie, 9–10, 17, 28, 137, 143–44, 147 Santander Bridge, 18, 22 Schoolland, Li, 60, 75 Scientific Research Mises Center, 99 Seoul, 62–65, 69 Serralde, Daniel, 120, 131 Shanghai Tower, 77 Shanghai World Financial Center, 77 Shawnee State University, 6 Shcheglov, Lev, 98 Sheng Hong, 83 Sheshelidze, Paata, Simón Bolívar Bridge, 23, Sino-Korean Friendship Bridge, 104–105 Sinuiju, 59, 61, 66 Sirota, David, 1 Smith, Adam, 21, 86, 133 Sobel, Russell, 56 Socialism Conference, 120–22, 125, 128–31, 136–39, 146 Socialist International, 32 South America, 17, 135 South China Morning Post, 82 South Korea, 62–64, 68–69, 123–24 South Ossetia, 113 Southern Methodist University (SMU), 6, 48, 77–79 Soviet Ministry of Health, 97 Soviet Women (Gray), 96 special economic zone (SEZ), 80 St. Basil’s Cathedral, 86, 89 Stalin, Josef, 89, 91, 93, 95, 111, 114–15, 125 Stalin’s Apologist (Taylor), 92 Stocker, Marshall, 15 Stockholm, 5, 86 Stone, Oliver, 1, 27 Suffolk University, 7 sulguni, 116 supra, 115–16 Sweden as a capitalist country, 2, 10–11 government spending in, 2, 12–13 laissez-faire economic reforms in, 11–12 ranking on economic freedom index, 10 taxes in, 5 T Tap and Barrel Pub, 85 Taxpayer March on Washington, 142 Taylor, S.


Refuge: Transforming a Broken Refugee System by Alexander Betts, Paul Collier

Alvin Roth, anti-communist, centre right, charter city, corporate social responsibility, Donald Trump, failed state, Filter Bubble, global supply chain, informal economy, it's over 9,000, Kibera, mass immigration, megacity, middle-income trap, mobile money, Mohammed Bouazizi, mutually assured destruction, open borders, Peace of Westphalia, peer-to-peer, race to the bottom, randomized controlled trial, rising living standards, risk/return, school choice, special economic zone, structural adjustment programs, tail risk, trade route, urban planning, zero-sum game

Meanwhile, irrational contradictions pervade camp life: hundreds of Jordanian teachers are employed at great expense to teach Syrian children according to the Jordanian national curriculum while hundreds of qualified Syrian teachers are left idle. But the suppression and neglect of skills, talents, and aspirations benefit nobody. What if instead refugees were allowed to join the labour market? In April 2015 we travelled to Jordan. On a visit to Za’atari, we discovered that just a fifteen-minute drive from the camp, there is a Special Economic Zone (SEZ) – an area in which business and trade laws differ from the rest of the country in order to attract trade, investment, and job creation. It is called the King Hussein bin Talal Development Area (KHBTDA). The government had invested £100m into connecting it to the national road network and economic grid.

Furthermore, one opportunity might lie in Syrian businesses no longer able to operate in Syria, which could be encouraged to relocate to such zones, assuming they were eventually able to return. Among these businesses are multinational corporations such as American Express, Sony Corporation, and Caterpillar, as well as many Syrian companies. Special Economic Zones often have a bad reputation because of being associated with exploitative low-wage labour. However, there is no reason why the model could not be adapted to ensure respect for human rights and consistency with a set of ethical practices. The core of the idea would be to allow economic zoning that creates geographical spaces within which refugees receive access to a set of entitlements and capabilities.

The idea drew widespread support, with the UK’s former Prime Minister, Gordon Brown, for instance, writing on the day of the conference that ‘economic zones should be created in Lebanon, Jordan, and Turkey’.5 The basic deal on the table – called the ‘Jordan Compact’ – was that Jordan would receive around $2bn in assistance and investment. In exchange, it would offer up to 200,000 work permits to Syrians. One of the main vehicles for this would be through a series of five new Special Economic Zones in which refugees would be employed alongside nationals, partly building upon existing development areas like the KHBTDA. Over the next few months, the governments of Jordan and the United Kingdom, together with the World Bank, led the negotiation of a partnership to flesh out the details of the Jordan Compact and to carry the pilot forward.


pages: 322 words: 87,181

Straight Talk on Trade: Ideas for a Sane World Economy by Dani Rodrik

3D printing, airline deregulation, Asian financial crisis, bank run, barriers to entry, behavioural economics, Berlin Wall, Bernie Sanders, blue-collar work, Bretton Woods, BRICs, business cycle, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, carbon tax, Carmen Reinhart, carried interest, central bank independence, centre right, collective bargaining, conceptual framework, continuous integration, corporate governance, corporate social responsibility, currency manipulation / currency intervention, David Ricardo: comparative advantage, deindustrialization, Donald Trump, endogenous growth, Eugene Fama: efficient market hypothesis, eurozone crisis, export processing zone, failed state, financial deregulation, financial innovation, financial intermediation, financial repression, floating exchange rates, full employment, future of work, general purpose technology, George Akerlof, global value chain, income inequality, inflation targeting, information asymmetry, investor state dispute settlement, invisible hand, Jean Tirole, Kenneth Rogoff, low interest rates, low skilled workers, manufacturing employment, market clearing, market fundamentalism, meta-analysis, moral hazard, Nelson Mandela, new economy, offshore financial centre, open borders, open economy, open immigration, Pareto efficiency, postindustrial economy, precautionary principle, price stability, public intellectual, pushing on a string, race to the bottom, randomized controlled trial, regulatory arbitrage, rent control, rent-seeking, Richard Thaler, Robert Gordon, Robert Shiller, Ronald Reagan, Sam Peltzman, Silicon Valley, Solyndra, special economic zone, spectrum auction, Steven Pinker, tacit knowledge, The Rise and Fall of American Growth, the scientific method, The Wealth of Nations by Adam Smith, Thomas L Friedman, too big to fail, total factor productivity, trade liberalization, transaction costs, Tyler Cowen, unorthodox policies, Washington Consensus, World Values Survey, zero-sum game, éminence grise

As Lawrence Lau, Yingyi Qian, and Gerard Roland show, this system delivers allocative efficiency under fairly nonrestrictive conditions.5 But from a political-economy perspective, the main virtue of the dual-track approach was that it shielded the prevailing stream of rents from the effects of the reform. The state did not lose its revenue, and urban workers were not denied their cheap food rations. China’s special economic zones functioned similarly. Rather than liberalize its trade regime in the standard way, which would have decimated the country’s inefficient state enterprises, China allowed firms in special economic zones to operate under near-free-trade rules while maintaining trade restrictions elsewhere until the late 1990s. This enabled China to insert itself in the world economy while protecting employment and rents in the state sector.

What works in one place rarely does in another. Consider how some of the most successful developing nations joined the world economy. South Korea and Taiwan relied heavily on export subsidies to push their firms outward during the 1960s and 1970s and liberalized their import regime only gradually. China established special economic zones in which export-oriented firms were allowed to operate under different rules than those applied to state enterprises and to others focused on the internal market. Chile, by contrast, followed the textbook model and sharply reduced import barriers to force domestic firms to compete with foreign firms directly in the home market.

This means in turn that the partial, sectoral approaches that worked so well to stimulate export-oriented industrialization during the early stages of rapid growth in Asia and beyond will have to be replaced (or at least complemented) by massive economy-wide investments in human capital and institutions. When manufacturing is the engine of the economy, selective reforms such as export incentives, special economic zones, or incentives to foreign investors can be highly effective. After all, it is enough to have a few export successes, facing nearly infinite demand on world markets, to pull the economy along. But when growth must rely on (mostly) nontradable services, selective efforts will not work. Reform efforts will have to be more comprehensive, targeting productivity growth in all services simultaneously.


pages: 438 words: 84,256

The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival by Charles Goodhart, Manoj Pradhan

asset-backed security, banks create money, Berlin Wall, bonus culture, Boris Johnson, Branko Milanovic, Brexit referendum, business cycle, capital controls, carbon tax, central bank independence, commodity super cycle, coronavirus, corporate governance, COVID-19, deglobalization, demographic dividend, demographic transition, Deng Xiaoping, en.wikipedia.org, Fall of the Berlin Wall, financial independence, financial repression, fixed income, full employment, gig economy, Gini coefficient, Greta Thunberg, housing crisis, income inequality, inflation targeting, interest rate swap, job automation, Kickstarter, long term incentive plan, longitudinal study, low interest rates, low skilled workers, manufacturing employment, Martin Wolf, mass immigration, middle-income trap, non-tariff barriers, offshore financial centre, oil shock, old age dependency ratio, open economy, paradox of thrift, Pearl River Delta, pension reform, Phillips curve, price stability, private sector deleveraging, quantitative easing, rent control, savings glut, secular stagnation, shareholder value, special economic zone, The Great Moderation, The Wealth of Nations by Adam Smith, total factor productivity, working poor, working-age population, yield curve, zero-sum game

SOEs, state banks, and modern, state-directed industrial policy were all an integral part of China’s growth strategy during its ascent. On the other hand, provinces were given considerable power, particularly those that were home to China’s special economic zones. Governors of these provinces and the leaders of SOEs came to be some of the most powerful men in China during its expansion. Every aspect of the production function was actively employed. Land, labour, capital and technology all played a strong role in China’s great mobilisation. Land: The special economic zones epitomise China’s industrial policy. Land was heavily subsidised and businesses were given all the help they needed to set up and operate businesses efficiently.

Part of the reason behind the asymmetry lies in China’s starting point of an abundant and cheap supply of labour and very little capital and technology available to each worker. Yet, the other part was surely the economic strategy of China’s administration to direct domestic savings and global capital into investment within China’s special economic zones. A series of frictions supported this asymmetry. Global capital was largely prevented from accessing China’s financial markets, while the early returns from China’s financial markets were not attractive enough for overseas investment to chase. As a result, global capital flowed into physical investment.

The earliest of these events was Deng Xiaoping’s ‘socialism with Chinese characteristics’, particularly the second phase starting in 1992. The first phase of this drive started in 1978 with reforms to agriculture, an invitation to private enterprises to re-enter the Chinese economy, and the creation of special economic zones (including the Pearl River Delta that we discuss below) where foreign investment was allowed. Though price controls were lifted for urban industries, the economy was still dominated by fairly inefficient state-owned enterprises (SOEs hereafter). It was in the second phase that privatisation of SOEs began, when small, medium and even some large SOEs were closed or sold to the private sector.


Super Continent: The Logic of Eurasian Integration by Kent E. Calder

"World Economic Forum" Davos, 3D printing, air freight, Asian financial crisis, Bear Stearns, Berlin Wall, blockchain, Bretton Woods, business intelligence, capital controls, Capital in the Twenty-First Century by Thomas Piketty, classic study, cloud computing, colonial rule, Credit Default Swap, cuban missile crisis, deindustrialization, demographic transition, Deng Xiaoping, disruptive innovation, Doha Development Round, Donald Trump, energy transition, European colonialism, export processing zone, failed state, Fall of the Berlin Wall, foreign exchange controls, geopolitical risk, Gini coefficient, high-speed rail, housing crisis, income inequality, industrial cluster, industrial robot, interest rate swap, intermodal, Internet of things, invention of movable type, inventory management, John Markoff, liberal world order, Malacca Straits, Mikhail Gorbachev, mittelstand, money market fund, moral hazard, new economy, oil shale / tar sands, oil shock, purchasing power parity, quantitative easing, reserve currency, Ronald Reagan, seigniorage, Shenzhen special economic zone , smart cities, smart grid, SoftBank, South China Sea, sovereign wealth fund, special drawing rights, special economic zone, Suez canal 1869, Suez crisis 1956, supply-chain management, Thomas L Friedman, trade liberalization, trade route, transcontinental railway, UNCLOS, UNCLOS, union organizing, Washington Consensus, working-age population, zero-sum game

It increased its scientific and technical workforce from 60,000 when the modernization began to 400,000 less than five years later.12 With political conditions increasingly stable, Deng’s approach steadily broadened beyond an initial emphasis on national self-reliance to include sub- Eurasia in the Making 53 stantial foreign borrowings. In December 1978, for example, China arranged a $1.2 billion sovereign loan from a consortium of British banks; by midApril the People’s Republic (PRC) had received or arranged for $10 billion in foreign loans.13 Five Special Economic Zones, or SEZs, (Shenzhen, Zhuhai, and Shantou in Guangdong, plus Xiamen in Fujian and the entire island of Hainan) were established, each of which had power to negotiate with foreign firms on the Yugoslav-Romanian model, thus blending socialist and capitalist systems.14 Although never officially designated as an SEZ, Tianjin was picked as a “coastal development area” and opened in the mid-1980s.

Peripheral Chinese Cities as Catalytic Regional Hubs The inland regions have rising incentives to establish direct overland regional connections with nearby parts of Southeast and South Asia such as Myanmar and Bangladesh, which are intensified by rapid growth in those populous neighboring areas as well. This is leading to the creation of dynamic transportation and logistics in regional Chinese cities, replete with high-quality airports and Special Economic Zones that serve as bridges to surrounding nations. Kunming, for example, has developed such a complex. It is within two hours’ flying time of countries with close to two billion consumers, across China, Southeast Asia, and South Asia, which have copious raw material re- Southeast Asia 135 serves also.

Shortly after ASEAN was formed in 1967, Singapore committed to be the last ASEAN member to establish active diplomatic relations with the PRC, and 138 chapter 6 honored that pledge, waiting until October 1990 —a quarter century after its own independence—to formally recognize China. Southeast Asia’s role in China’s global emergence has not been limited to the diplomatic sphere. China’s first Special Economic Zones under the Four Modernizations were mainly located in the ancestral homelands of Southeast Asian overseas Chinese, scattered along the coasts of Fujian and Guangdong provinces; those expatriates invested heavily in the zones during the 1980s and 1990s, thus contributing heavily to China’s early modern economic development.


pages: 369 words: 94,588

The Enigma of Capital: And the Crises of Capitalism by David Harvey

accounting loophole / creative accounting, Alan Greenspan, anti-communist, Asian financial crisis, bank run, banking crisis, Bernie Madoff, Big bang: deregulation of the City of London, Bretton Woods, British Empire, business climate, call centre, capital controls, cotton gin, creative destruction, credit crunch, Credit Default Swap, David Ricardo: comparative advantage, deindustrialization, Deng Xiaoping, deskilling, equal pay for equal work, European colonialism, failed state, financial innovation, Frank Gehry, full employment, gentrification, Glass-Steagall Act, global reserve currency, Google Earth, Great Leap Forward, Guggenheim Bilbao, Gunnar Myrdal, guns versus butter model, Herbert Marcuse, illegal immigration, indoor plumbing, interest rate swap, invention of the steam engine, Jane Jacobs, joint-stock company, Joseph Schumpeter, Just-in-time delivery, land reform, liquidity trap, Long Term Capital Management, market bubble, means of production, megacity, microcredit, military-industrial complex, Money creation, moral hazard, mortgage debt, Myron Scholes, new economy, New Urbanism, Northern Rock, oil shale / tar sands, peak oil, Pearl River Delta, place-making, Ponzi scheme, precariat, reserve currency, Ronald Reagan, Savings and loan crisis, sharing economy, Shenzhen special economic zone , Silicon Valley, special drawing rights, special economic zone, statistical arbitrage, structural adjustment programs, subprime mortgage crisis, technological determinism, the built environment, the market place, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, Thorstein Veblen, Timothy McVeigh, too big to fail, trickle-down economics, urban renewal, urban sprawl, vertical integration, white flight, women in the workforce

The specific spaces into which activity has moved were not given in advance, but determined by a whole host of contingent and local factors, depending in part on so-called ‘natural’ as well as human resources and locational advantages (such as northern Mexico’s proximity to the US market). The specifics of state policies (such as investment in infrastructures, subsidies for investment, policies towards labour or the setting up of the ‘maquila’ zone legislation in Mexico and the ‘special economic zones’ designated after 1980 in China) have also played an important role. The geography of this development and of the subsequent crisis has been uneven. Those countries that had been most profligate in promoting the housing bubble – the United States, Britain, Ireland and Spain – were the initial epicentres of the crisis but there were plenty of pockets elsewhere.

This intricate physical and social geography bears the imprint of the social and political processes, as well as the active struggles that produced it. The uneven geographical development that results is as infinitely varied as it is volatile: a deindustrialised city in northern China; a shrinking city in what was once East Germany; the booming industrial cities in the Pearl River delta; an IT concentration in Bangalore; a Special Economic Zone in India where dispossessed peasants revolt; indigenous populations under pressure in Amazonia or New Guinea; the affluent neighbourhoods in Greenwich, Connecticut (until recently, at least, hedge fund capital of the world); the conflict-ridden oil fields in the Ogoni region of Nigeria; the autonomous zones carved out by a militant movement such as the Zapatistas in Chiapas, Mexico; the vast soy bean production zones in Brazil, Paraguay and Argentina; the rural regions of Darfur or the Congo where civil wars relentlessly rage; the staid middle-class suburbs of London, Los Angeles or Munich; the shanty towns of South Africa; the garment factories of Sri Lanka or the call centres of Barbados and Bangalore ‘manned’ entirely by women; the new megacities in the Gulf States with their star-architect-designed buildings – all of this (and of course much more) when taken together constitutes a world of geographical difference that has been made by human action.

Its pace picked up after a brief recession in 1997 or so, such that since 2000 China has absorbed nearly half of the world’s cement supplies. More than a hundred cities have passed the 1 million population mark in the last twenty years and small villages, like Shenzhen, have become huge metropolises with 6 to 10 million people. Industrialisation, at first concentrated in the special economic zones, rapidly diffused outwards to any municipality willing to absorb the surplus capital from abroad and plough back the earnings into rapid expansion. Vast infrastructural projects, such as dams and highways – again, all debt-financed – are transforming the landscape. Equally vast shopping malls, science parks, airports, container ports, pleasure palaces of all kinds, and all manner of newly minted cultural institutions, along with gated communities and golf courses, dot the Chinese landscape in the midst of overcrowded urban dormitories for the massive labour reserves being mobilised from impoverished rural regions.


pages: 389 words: 98,487

The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor, and Why You Can Never Buy a Decent Used Car by Tim Harford

Alan Greenspan, Albert Einstein, barriers to entry, Berlin Wall, business cycle, collective bargaining, congestion charging, Corn Laws, David Ricardo: comparative advantage, decarbonisation, Deng Xiaoping, Fall of the Berlin Wall, George Akerlof, Great Leap Forward, household responsibility system, information asymmetry, invention of movable type, John Nash: game theory, John von Neumann, Kenneth Arrow, Kickstarter, market design, Martin Wolf, moral hazard, new economy, Pearl River Delta, price discrimination, Productivity paradox, race to the bottom, random walk, rent-seeking, Robert Gordon, Robert Shiller, Ronald Reagan, sealed-bid auction, second-price auction, second-price sealed-bid, Shenzhen special economic zone , Shenzhen was a fishing village, special economic zone, spectrum auction, The Market for Lemons, Thomas Malthus, trade liberalization, Vickrey auction

The noted Indian economist, Jagdish Bhagwati, described his own governments’ policies from the 1960s to the 1980s as “three decades of illiberal and autarkic policies”— in other words, the government sat hard on the market and did its best to prevent trade and investment. China, on the other hand, worked hard to attract foreign investors and to make the most of the links with Hong Kong and its other neighbors. The plan was to create “special economic zones,” such as Shenzhen, where the normal rules of the command economy would not apply to foreign investors. At the same time, the infrastructure of the special economic zones could be improved quickly. That method perfectly complemented China’s • 248 • H O W C H I N A G R E W R I C H connections with Hong Kong, Macao, and Taiwan: the zones were exclusively in Guandong Province, next to Hong Kong and Macao, and Fujian, next to Taiwan.

Further, almost half of all investment arrived in Guandong; Fujian was the second largest recipient. The city of Shenzhen, across the border from Hong Kong, was a fishing village in 1980 when it became a special economic zone. Twenty years later property developers were pulling down skyscrapers mid-construction to start building bigger skyscrapers. The Chinese say, “you’ll think you’re rich until you set foot in Shenzhen.” Unfair and arbitrary as they were, the special economic zones worked well at attracting investors without turning the entire Chinese mainland upside down. They also provided a toehold for reforms to spread. Whenever the rules for foreign firms seemed to be working well, administrators started applying them to domestic firms within the zones.

See externalities 127, 128, 129 simplification of models, 14 rule of law, 198 simultaneous auctions, 169 Singapore, 134–35, 181 safety, 94 skilled labor, 27–28, 29, 67 Safeway, 43–44 Smokey Mountain (landfill), 222–23 Sainsbury’s, 41 social capital, 198 Saudi Arabia, 23 social insurance, 120 savings, 233, 238 socialism, 238, 250 scarcity social ties, 14, 198, 247–48 and auctions, 173–75 software industry, 52, 53, 80 in banking, 21 The Sopranos, 24 and coffee bars, 31–35 Sotheby’s, 164, 166–67 and cost of entry, 244–45 South Korea and efficiency, 58 agriculture subsidies, 218 as focus of economic study, 14 diversification, 239–40 and free markets, 135 economic growth, 180–81, 209, and keyhole economics, 130, 131 223 and land, 9–11, 15–18 and trade barriers, 226 and market failures, 80 Soviet Union, 73, 130, 242 natural vs. artificial, 18 S&P 500, 146 and prices, 18–21, 22–23, 39–40, Spain, 120 48–49, 53–54, 70, 78, 149–51, special economic zones, 248–49 152–54 special interests, 224–28 and profits, 32, 245 Spectrum, 171 and rents, 9–11, 15–18, 32 spectrum auctions. See radio Ricardo on, 8–11 spectrum rights and stock values, 149–51, 152 speculation, 145–49 and technology, 152–54 Spence, Michael, 116–18, 122, 123 and telecommunications, 156, stability, 198, 226 173–74 stadiums, 64 and tourism, 31 standardization, 154, 215 Scheldt River, 202 Starbucks, 5–7, 13, 35, 39, 114–15 Schultz, Howard, 7 starting positions, 73–75 Seabright, Paul, 2 Stiglitz, Joe, 116, 119, 122–23 Seattle Coffee Roasters, 6 self-interest, 28, 81, 193 stock market self-sufficiency, 208 crash, 174–75 service, 20, 50–51, 52, 213 Internet bubble, 137–38 Shanghai, China, 231–32, 245, 252 long view, 145–49 Shaw, George Bernard, 27 and random walk theory, 138–40 Shenzhen, China, 248–49, 252 and rationality, 144–45 Shiller, Robert, 148, 149 and scarcity, 149–51, 152 Shinjuku Station, 6 and technology, 151–54 Shiva, Vandana, 215 value and price, 140–44 “shock therapy,” 242 sub-Saharan Africa, 199 • 273 • I N D E X subsidies taxis, 179 and agriculture, 218, 223 teachers, 26 and environmental issues, 220–21 Teaism, 7 and externalities, 104, 105–6, 107 technology and fairness, 71 in China, 246 and globalization, 220–21 and comparative advantage, 211 and head start theorem, 75 and development, 198 and keyhole economics, 131 and economic growth, 181 and planned economies, 243 and externalities, 92 and pollution, 217–18 lagged impact of, 258n.


pages: 193 words: 46,052

Modern China: A Very Short Introduction by Rana Mitter

banking crisis, British Empire, corporate social responsibility, credit crunch, Deng Xiaoping, global reserve currency, Great Leap Forward, invention of gunpowder, land reform, Mahatma Gandhi, Mikhail Gorbachev, Nelson Mandela, new economy, purchasing power parity, reserve currency, South China Sea, special economic zone, stem cell, urban planning

Urban and rural areas were also encouraged to set up small local or household enterprises, with nearly 12 million such enterprises registered by 1985. Economic equality was no longer the goal of government. As part of the encouragement of entrepreneurship, Deng designated four areas on China’s coast as Special Economic Zones, which would be particularly attractive to foreign investors, thereby ending the preference for self-sufficiency that had marked the economy under Mao (see also Chapter 5). Yet the doors were opened only a certain way. In December 1978, a young man named Wei Jingsheng used the new openness to demand ‘the Fifth Modernization’—true democracy in China.

These countries, like China, began to take a different path in the 1980s. China in the global economy Economic reform started in the countryside, with farmers given freedom to sell their crops on the free market, and individuals encouraged to set up enterprises (see Chapter 3). In the early 1980s, Deng Xiaoping established the Special Economic Zones (SEZs) in port cities on China’s southern coast. This signalled his desire to lay down the first phase of economic growth: it would start with manufacturing and light industry, and would be fuelled by foreign investment which would be tempted in by highly preferential tax rates and labour laws.

D. 51 rural areas 42, 44, 54, 56, 62, 75, 76, 81, 98–9 Russia 9, 108 see also Soviet Union S science and technology 12, 42, 68, 104 Security Council of the UN 51 self-strengthening movement 23, 24 Shanghai 31–2, 36, 43, 66, 102–3, 116, 127, 128 Singapore 11, 85 Sino-Japanese War (1894–5) 23, 91 Sino-Japanese War (1937–45) 45–7, 75, 79, 80, 100 Snow, Edgar 50 society 71–95 Song dynasty 97 Song Jiaoren 30 Soviet Union 35, 36, 52, 53, 56, 62, 80, 84, 101 see also Russia Special Economic Zones (SEZs) 62, 102 sport 88, 89 student protests 63–4, 94 see also May Fourth Movement; Tian’anmen Square protest Sun Yatsen 18, 28–9, 30, 34, 35–6, 40, 42 Supergirl television show 125–7 superstition, combating 40, 42 suzhi (population quality) 87 T Taiping War (1850–64) 22–3, 77, 78 Taiwan 9, 23, 85, 90–3 Tawney, R.


pages: 489 words: 132,734

A History of Future Cities by Daniel Brook

Berlin Wall, British Empire, business process, business process outsourcing, call centre, carbon footprint, Celtic Tiger, collateralized debt obligation, collective bargaining, company town, Credit Default Swap, credit default swaps / collateralized debt obligations, Deng Xiaoping, desegregation, Edward Glaeser, Fall of the Berlin Wall, financial innovation, glass ceiling, high-speed rail, indoor plumbing, joint-stock company, land reform, Mikhail Gorbachev, New Urbanism, open economy, Parag Khanna, Pearl River Delta, Potemkin village, profit motive, rent control, Shenzhen special economic zone , SimCity, sovereign wealth fund, special economic zone, starchitect, Suez canal 1869, trade route, urban planning, urban renewal, working poor

Instead, he would test his policies in an entirely new city of his own creation, called Shenzhen, that he ordered built on the border with Hong Kong, the British colony that had grown rich swiping businesses and businessmen from Shanghai during its Maoist stagnation. Deng designated Shenzhen as China’s first “Special Economic Zone,” a carve-out area where private enterprise and foreign investment would be encouraged in the Communist state. To sidestep intra-Party ideological debates about communism and capitalism, East and West, Deng packaged his free-market zone in Shenzhen as a mere “experiment.” He was, as he aphoristically put it in a pair of exceedingly famous (if apocryphal) quotes, “crossing the river by feeling the rocks”; he didn’t care “if it’s a black cat or a white cat as long as it catches mice.”

As Yeltsin struggled with the massive task of moving a vast nation dotted with collective farms and unproductive state-owned factories toward a market economy, Mayor Sobchak rushed ahead with his vision for St. Petersburg. He called his city “the only Russian door to Europe” and dreamed of a St. Petersburg restored to its prerevolutionary role as Russia’s banking and financial hub. Sobchak hoped to turn St. Petersburg into a Special Economic Zone (SEZ) of the type he had seen on a trip to Deng Xiaoping’s China in his days as a professor—a city with special business regulations to woo foreign investment. The appeal of the SEZ concept for Sobchak was obvious: his West-facing city could finally be decoupled from Russia’s backward hinterlands.

Even Deng’s promarket political allies were wary of Shanghai. Some officials worried that unleashing China’s cradle of cosmopolitanism and revolution could upend their rule. Others fretted that the symbolism alone would aid their ideological enemies. Deng was already beset by antimarket factions within the Party who warned that his new Special Economic Zones for international investment would become “foreign concession zones” reborn. Though Deng had been able to overrule them in creating Shenzhen, the symbolism of their critique would be much more salient in Shanghai, a city that had actually been a grouping of foreign concessions during China’s “Century of Humiliation,” from the Opium War through World War II.


pages: 460 words: 107,454

Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet by Klaus Schwab, Peter Vanham

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, 3D printing, additive manufacturing, agricultural Revolution, air traffic controllers' union, Anthropocene, Apple II, Asian financial crisis, Asperger Syndrome, basic income, Berlin Wall, Big Tech, biodiversity loss, bitcoin, Black Lives Matter, blockchain, blue-collar work, Branko Milanovic, Bretton Woods, British Empire, business process, capital controls, Capital in the Twenty-First Century by Thomas Piketty, car-free, carbon footprint, carbon tax, centre right, clean tech, clean water, cloud computing, collateralized debt obligation, collective bargaining, colonial rule, company town, contact tracing, contact tracing app, Cornelius Vanderbilt, coronavirus, corporate governance, corporate social responsibility, COVID-19, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, cryptocurrency, cuban missile crisis, currency peg, cyber-physical system, decarbonisation, demographic dividend, Deng Xiaoping, Diane Coyle, digital divide, don't be evil, European colonialism, Fall of the Berlin Wall, family office, financial innovation, Francis Fukuyama: the end of history, future of work, gender pay gap, general purpose technology, George Floyd, gig economy, Gini coefficient, global supply chain, global value chain, global village, Google bus, green new deal, Greta Thunberg, high net worth, hiring and firing, housing crisis, income inequality, income per capita, independent contractor, industrial robot, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, James Watt: steam engine, Jeff Bezos, job automation, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, Khan Academy, Kickstarter, labor-force participation, lockdown, low interest rates, low skilled workers, Lyft, manufacturing employment, Marc Benioff, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, Martin Wolf, means of production, megacity, microplastics / micro fibres, Mikhail Gorbachev, mini-job, mittelstand, move fast and break things, neoliberal agenda, Network effects, new economy, open economy, Peace of Westphalia, Peter Thiel, precariat, Productivity paradox, profit maximization, purchasing power parity, race to the bottom, reserve currency, reshoring, ride hailing / ride sharing, Ronald Reagan, Salesforce, San Francisco homelessness, School Strike for Climate, self-driving car, seminal paper, shareholder value, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Simon Kuznets, social distancing, Social Responsibility of Business Is to Increase Its Profits, special economic zone, Steve Jobs, Steve Wozniak, synthetic biology, TaskRabbit, The Chicago School, The Future of Employment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, the scientific method, TikTok, Tim Cook: Apple, trade route, transfer pricing, Uber and Lyft, uber lyft, union organizing, universal basic income, War on Poverty, We are the 99%, women in the workforce, working poor, working-age population, Yom Kippur War, young professional, zero-sum game

Table of Contents Cover Title Page Copyright Page Dedication About the Authors Preface PART I: THE WORLD I GREW UP IN 1 75 Years of Global Growth and Development Foundations of the Post-War Global Economic Order Notes 2 Kuznets’ Curse The Original Kuznets’ Curse: GDP as Measure of Progress The Second Kuznets’ Curse: Inequality The Third Kuznets Curse: The Environment Notes 3 The Rise of Asia China's Special Economic Zones The Bigger Picture Notes 4 Divided Societies German Division and Reunification The Erosion of the Political Center Societal Unrest The Lesson to Draw from a Divided Society Notes PART II: DRIVERS OF PROGRESS AND PROBLEMS 5 Globalization Indonesia and Globalization Early Beginnings and Spice Routes6 Notes 6 Technology A Changing Labor Market A Changing Business Landscape Pre-Industrial Revolutions The First Industrial Revolution The Second Industrial Revolution The Third Industrial Revolution The Fourth Industrial Revolution Notes 7 People and the Planet Thunberg at Davos Notes PART III: STAKEHOLDER CAPITALISM 8 Concept The History of the Stakeholder Concept The Stakeholder Model Today Principles and Beliefs Underlying the Stakeholder Model Stakeholder Capitalism in Practice Notes 9 Companies Mærsk Notes 10 Communities New Zealand during the COVID-19 Crisis The Key Tasks of National Governments Singapore as a Model of Stakeholder Government New Zealand and the Move Away from GDP Civil Society and the International Community Notes Conclusion: The Road to Stakeholder Capitalism Notes Acknowledgments Index End User License Agreement List of Illustrations Chapter 2 Figure 2.1 World GDP Growth Has Been Trending Downward since the 1960s Figure 2.2 Kuznets waves: How income inequality waxes and wanes over the ver...

It is home to tech giants such as Huawei, Tencent, and ZTE,1 and a “maker movement” of tech start-ups. Hong Kong didn't stand still either, but it now has a formidable twin next door. How did this turnaround happen? And what does it tell us about the broader shift of the world economy to the East? China's Special Economic Zones I first visited China in April 1979. The country's new leader Deng Xiaoping had only been in power for about a year, and the land I encountered was still deeply impoverished. China had suffered for a long period from foreign invasions, civil war, and policies that had failed to deliver any meaningful economic progress.

Having been inspired by the city-state's example, he pursued a new economic development model for China as well: the Reform and Opening-Up, starting in 1979. The kernel of the economic turnaround in this model lay in attracting FDI from some of China's neighbors, including Hong Kong, and allowing these investors to set up businesses in Special Economic Zones (SEZs) on various stretches along the populous Guangdong (Canton) coastline in Southern China. Shenzhen, north of the Sham Chun River, was one of them. The SEZs were a sandbox for private business to operate in China. Elsewhere in the country, rules on private ownership, incorporation, and profits remained restricted for another number of years.


pages: 460 words: 107,454

Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet by Klaus Schwab

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, 3D printing, additive manufacturing, agricultural Revolution, air traffic controllers' union, Anthropocene, Apple II, Asian financial crisis, Asperger Syndrome, basic income, Berlin Wall, Big Tech, biodiversity loss, bitcoin, Black Lives Matter, blockchain, blue-collar work, Branko Milanovic, Bretton Woods, British Empire, business process, capital controls, Capital in the Twenty-First Century by Thomas Piketty, car-free, carbon footprint, carbon tax, centre right, clean tech, clean water, cloud computing, collateralized debt obligation, collective bargaining, colonial rule, company town, contact tracing, contact tracing app, Cornelius Vanderbilt, coronavirus, corporate governance, corporate social responsibility, COVID-19, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, cryptocurrency, cuban missile crisis, currency peg, cyber-physical system, decarbonisation, demographic dividend, Deng Xiaoping, Diane Coyle, digital divide, don't be evil, European colonialism, Fall of the Berlin Wall, family office, financial innovation, Francis Fukuyama: the end of history, future of work, gender pay gap, general purpose technology, George Floyd, gig economy, Gini coefficient, global supply chain, global value chain, global village, Google bus, green new deal, Greta Thunberg, high net worth, hiring and firing, housing crisis, income inequality, income per capita, independent contractor, industrial robot, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, James Watt: steam engine, Jeff Bezos, job automation, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, Khan Academy, Kickstarter, labor-force participation, lockdown, low interest rates, low skilled workers, Lyft, manufacturing employment, Marc Benioff, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, Martin Wolf, means of production, megacity, microplastics / micro fibres, Mikhail Gorbachev, mini-job, mittelstand, move fast and break things, neoliberal agenda, Network effects, new economy, open economy, Peace of Westphalia, Peter Thiel, precariat, Productivity paradox, profit maximization, purchasing power parity, race to the bottom, reserve currency, reshoring, ride hailing / ride sharing, Ronald Reagan, Salesforce, San Francisco homelessness, School Strike for Climate, self-driving car, seminal paper, shareholder value, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Simon Kuznets, social distancing, Social Responsibility of Business Is to Increase Its Profits, special economic zone, Steve Jobs, Steve Wozniak, synthetic biology, TaskRabbit, The Chicago School, The Future of Employment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, the scientific method, TikTok, Tim Cook: Apple, trade route, transfer pricing, Uber and Lyft, uber lyft, union organizing, universal basic income, War on Poverty, We are the 99%, women in the workforce, working poor, working-age population, Yom Kippur War, young professional, zero-sum game

Table of Contents Cover Title Page Copyright Page Dedication About the Authors Preface PART I: THE WORLD I GREW UP IN 1 75 Years of Global Growth and Development Foundations of the Post-War Global Economic Order Notes 2 Kuznets’ Curse The Original Kuznets’ Curse: GDP as Measure of Progress The Second Kuznets’ Curse: Inequality The Third Kuznets Curse: The Environment Notes 3 The Rise of Asia China's Special Economic Zones The Bigger Picture Notes 4 Divided Societies German Division and Reunification The Erosion of the Political Center Societal Unrest The Lesson to Draw from a Divided Society Notes PART II: DRIVERS OF PROGRESS AND PROBLEMS 5 Globalization Indonesia and Globalization Early Beginnings and Spice Routes6 Notes 6 Technology A Changing Labor Market A Changing Business Landscape Pre-Industrial Revolutions The First Industrial Revolution The Second Industrial Revolution The Third Industrial Revolution The Fourth Industrial Revolution Notes 7 People and the Planet Thunberg at Davos Notes PART III: STAKEHOLDER CAPITALISM 8 Concept The History of the Stakeholder Concept The Stakeholder Model Today Principles and Beliefs Underlying the Stakeholder Model Stakeholder Capitalism in Practice Notes 9 Companies Mærsk Notes 10 Communities New Zealand during the COVID-19 Crisis The Key Tasks of National Governments Singapore as a Model of Stakeholder Government New Zealand and the Move Away from GDP Civil Society and the International Community Notes Conclusion: The Road to Stakeholder Capitalism Notes Acknowledgments Index End User License Agreement List of Illustrations Chapter 2 Figure 2.1 World GDP Growth Has Been Trending Downward since the 1960s Figure 2.2 Kuznets waves: How income inequality waxes and wanes over the ver...

It is home to tech giants such as Huawei, Tencent, and ZTE,1 and a “maker movement” of tech start-ups. Hong Kong didn't stand still either, but it now has a formidable twin next door. How did this turnaround happen? And what does it tell us about the broader shift of the world economy to the East? China's Special Economic Zones I first visited China in April 1979. The country's new leader Deng Xiaoping had only been in power for about a year, and the land I encountered was still deeply impoverished. China had suffered for a long period from foreign invasions, civil war, and policies that had failed to deliver any meaningful economic progress.

Having been inspired by the city-state's example, he pursued a new economic development model for China as well: the Reform and Opening-Up, starting in 1979. The kernel of the economic turnaround in this model lay in attracting FDI from some of China's neighbors, including Hong Kong, and allowing these investors to set up businesses in Special Economic Zones (SEZs) on various stretches along the populous Guangdong (Canton) coastline in Southern China. Shenzhen, north of the Sham Chun River, was one of them. The SEZs were a sandbox for private business to operate in China. Elsewhere in the country, rules on private ownership, incorporation, and profits remained restricted for another number of years.


pages: 538 words: 145,243

Behemoth: A History of the Factory and the Making of the Modern World by Joshua B. Freeman

anti-communist, British Empire, Capital in the Twenty-First Century by Thomas Piketty, Charles Babbage, classic study, clean water, collective bargaining, company town, Corn Laws, corporate raider, cotton gin, deindustrialization, Deng Xiaoping, disruptive innovation, driverless car, en.wikipedia.org, factory automation, flying shuttle, Ford Model T, Ford paid five dollars a day, Frederick Winslow Taylor, global supply chain, Great Leap Forward, Herbert Marcuse, high-speed rail, household responsibility system, indoor plumbing, interchangeable parts, invisible hand, James Hargreaves, joint-stock company, knowledge worker, mass immigration, means of production, mittelstand, Naomi Klein, new economy, On the Economy of Machinery and Manufactures, Panopticon Jeremy Bentham, Pearl River Delta, post-industrial society, Ralph Waldo Emerson, rising living standards, Ronald Reagan, scientific management, Shenzhen special economic zone , Silicon Valley, special economic zone, spinning jenny, Steve Jobs, strikebreaker, techno-determinism, technoutopianism, the built environment, The Wealth of Nations by Adam Smith, Thorstein Veblen, Tim Cook: Apple, transaction costs, union organizing, Upton Sinclair, urban planning, Vanguard fund, vertical integration, women in the workforce, working poor, Works Progress Administration, zero-sum game

Over time, funds generated by light manufacturing could be channeled into more advanced, capital-intensive endeavors.15 Deng and his allies sought foreign capital and expertise to help expand industry without having a long-term blueprint. Instead, Deng called for “crossing the river by feeling the stones.” As an experiment, in 1979 the government established “special economic zones” in Guangdong and Fujian provinces, designed to attract foreign businesses. Within these zones, firms would be taxed at lower rates than elsewhere in the country. Additionally, companies could obtain tax holidays of up to five years; repatriate corporate profits and, after a contracted period, capital investments; import duty-free raw materials and intermediate products going into export products; and pay no export taxes.

Membership in the World Trade Organization (WTO) in 2007 deepened Vietnam’s integration into global markets and further facilitated export manufacturing.18 In China, the new market-oriented policies rapidly transformed the Pearl River Delta region in Guangdong. The region was selected as one of the first special economic zones because of its relative isolation from the major population and power centers of the country and its proximity to Hong Kong and Macao, and that proved critical to its success. At the time, the economy of Hong Kong (still under British control) depended heavily on manufacturing, trade, and transportation.

As the authors of a study of the Pearl River Delta put it, “Third World level costs are combined with First World caliber management, infrastructure, and market knowledge.”19 As the initial Hong Kong–based forays into manufacturing in China proved successful and the Chinese government further loosened regulations and spent heavily on infrastructure serving the special economic zones, more investment flowed in. Hong Kong firms began shifting more complex manufacturing processes, logistics, quality control, sourcing, and packing to China. At the same time, companies based in Taiwan began manufacturing in mainland China, too, soon followed by companies from Japan and Korea, at first almost always operating through Hong Kong or Macao middlemen.


pages: 391 words: 102,301

Zero-Sum Future: American Power in an Age of Anxiety by Gideon Rachman

"World Economic Forum" Davos, Alan Greenspan, Asian financial crisis, bank run, battle of ideas, Berlin Wall, Big bang: deregulation of the City of London, Bonfire of the Vanities, borderless world, Bretton Woods, BRICs, capital controls, carbon tax, centre right, clean water, collapse of Lehman Brothers, colonial rule, currency manipulation / currency intervention, deindustrialization, Deng Xiaoping, Doha Development Round, energy security, failed state, Fall of the Berlin Wall, financial deregulation, Francis Fukuyama: the end of history, full employment, Glass-Steagall Act, global reserve currency, Global Witness, Golden arches theory, Great Leap Forward, greed is good, Greenspan put, Hernando de Soto, illegal immigration, income inequality, invisible hand, It's morning again in America, Jeff Bezos, laissez-faire capitalism, Live Aid, low interest rates, market fundamentalism, Martin Wolf, mass immigration, Mexican peso crisis / tequila crisis, Mikhail Gorbachev, moral hazard, mutually assured destruction, Naomi Klein, Nelson Mandela, offshore financial centre, Oklahoma City bombing, open borders, open economy, Peace of Westphalia, peak oil, pension reform, plutocrats, popular capitalism, price stability, RAND corporation, reserve currency, rising living standards, road to serfdom, Ronald Reagan, Savings and loan crisis, shareholder value, Sinatra Doctrine, sovereign wealth fund, special economic zone, Steve Jobs, Stewart Brand, Tax Reform Act of 1986, The Chicago School, The Great Moderation, The Myth of the Rational Market, Thomas Malthus, Timothy McVeigh, trickle-down economics, Washington Consensus, Winter of Discontent, zero-sum game

Second, the plenum gave more latitude to Chinese peasants to break free from the system of collective farms and to cultivate crops on individual plots through “side-occupations,” such as growing fruit and vegetables and raising livestock.7 Finally, the plenum made a nod in the direction of the need for a more independent judicial system to arbitrate the kind of disputes that would arise in a “new world of local commercial initiatives.”8 On paper, this was a very modest and tentative beginning to market-based reforms. Most of the measures that were to transform China into a powerhouse of the global capitalist system were to come later. The setting up of Special Economic Zones for foreign investors, which drove the manufacturing boom in southern China, was already being considered in 1979. But the zones were not mentioned at the plenum and did not really get going until the early 1980s. Other far-reaching reforms, such as the privatization of housing and the reform of state-owned industries, were still more than a decade away.9 Nonetheless, 1978 was still the critical turning point.

By 1985, China’s income from exports had reached $25 billion, up from $10 billion in 1978.10 As farmers were allowed more freedom, the countryside grew richer. It was claimed that in 1978 around 270 million or 28 percent of the population lived in poverty;11 by 1985 that number had fallen to 97 million or less than 10 percent of the population.12 The Special Economic Zones along the coast provided employment and higher incomes for millions of migrant workers as China sucked in manufacturing activity from the rest of Asia. By the early 1990s, China’s share of world trade had quadrupled since the beginning of the reform era. By 1993 China was receiving more foreign direct investment than any other country in the world.13 By 2008—when the global financial crisis struck—China was the undisputed workshop of the world: it was about to become the world’s largest exporter and sitting on top of the world’s largest foreign currency reserves.

By contrast, many experts in Asia swiftly saw that China was emulating the successful path of manufacturing and export-led growth that had been pioneered first by Japan and then by the other “Flying Geese” of East and Southeast Asia—Taiwan, South Korea, Hong Kong, Singapore, Malaysia, Thailand. Even if the bosses of the Chinese Communist Party were not, in late 1978, consciously emulating other Asian nations, the entrepreneurs whom they allowed to open factories in China’s new Special Economic Zones knew the formula. In many cases they were simply moving manufacturing operations wholesale from elsewhere in Asia to southern China. But while there was an “overseas Chinese” business community that could help private enterprise to take root in China and then plug it into the international trading system, there was no equivalent “overseas Russian” community.


pages: 599 words: 98,564

The Mutant Project: Inside the Global Race to Genetically Modify Humans by Eben Kirksey

23andMe, Abraham Maslow, Affordable Care Act / Obamacare, Albert Einstein, Bernie Sanders, bioinformatics, bitcoin, Black Lives Matter, blockchain, Buckminster Fuller, clean water, coronavirus, COVID-19, CRISPR, cryptocurrency, data acquisition, deep learning, Deng Xiaoping, Donald Trump, double helix, epigenetics, Ethereum, ethereum blockchain, experimental subject, fake news, gentrification, George Floyd, Jeff Bezos, lockdown, Mark Zuckerberg, megacity, microdosing, moral panic, move fast and break things, personalized medicine, phenotype, placebo effect, randomized controlled trial, Recombinant DNA, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Silicon Valley billionaire, Skype, special economic zone, statistical model, stem cell, surveillance capitalism, tech billionaire, technological determinism, upwardly mobile, urban planning, young professional

Entrepreneurs were testing out new innovations first, and only looking to Beijing for post facto recognition. In the 1980s “there were arguments about science and technology happening in Beijing,” O’Donnell said. But attitudes were different in Shenzhen. “As long as you could get results, it was basically pushed forward and approved.” Shenzhen started out as a special economic zone, where businesses from Hong Kong, Taiwan, and farther afield could set up factories and recruit cheap migrant laborers. Later, the city became a key hub in China’s innovation economy, attracting cosmopolitan entrepreneurs who began designing smartphones, drones, and robots. Shenzhen start-up companies ventured into the fields of artificial intelligence, social media, and biotechnology.

The Chinese government had established a special zone for medical experimentation here, with regulations designed to promote cutting-edge medical research. The provincial government was encouraging “research that is forbidden or controlled elsewhere,” as Cory Doctorow reports in Boing Boing. The special medical zone of Hainan was inspired by Shenzhen’s special economic zone. Foreign capital was welcome alongside international “talent, technology, devices and drugs,” according to Doctorow.1 Dr. He was traveling to Hainan with John Zhang, a Chinese American gynecologist who was no stranger to controversy. According to the Washington Post, Dr. Zhang “is blowing up the way humans reproduce” by conducting experiments in spaces with little regulation.

., “Spontaneous Preterm Birth Prevention in Multiple Pregnancy,” Obstetrician and Gynaecologist 20, no. 1 (2018): 57–63.   3   Susan L. Madden, The Preemie Parents’ Companion (New York: Houghton Mifflin Harcourt, 2000), 40.   4   Mary Ellen Avery, Avery’s Diseases of the Newborn, 8th ed. (Philadelphia: Elsevier Health Sciences, 2005). 20: MIXED WISDOM   1   Cory Doctorow, “China Announces ‘Medical Tourism’ Special Economic Zone on Hainan Island,” Boing Boing, April 3, 2017.   2   Ariana Eunjung Cha, “Fertility Doctor John Zhang Pushes Boundaries in Human Reproduction,” Washington Post, May 14, 2018.   3   Jon Cohen, “The Untold Story of the ‘Circle of Trust’ Behind the World’s First Gene-Edited Babies,” Science, August 1, 2019. 21: THEY ARE MOVING FORWARD   1   Sarah Franklin, “Louise Brown,” Reproductive Biomedicine and Society Online, 3 (2016): 142–44.   2   “Louise Joy Brown,” January 29, 2019, https://web.archive.org/web/20190129073119/https://www.louisejoybrown.com. 22: CHINESE SCIENTISTS ARE CREATING CRISPR BABIES   1   “Code of the Wild Trailer—Genetic Enhancement Is Here,” YouTube, posted by Rhumbline Media, March 15, 2019, https://youtu.be/Wyv3Ibxw-a0.   2   Antonio Regalado, “Exclusive: Chinese Scientists Are Creating CRISPR Babies,” MIT Technology Review, November 25, 2018. 23: BUBBLES VANISHING INTO AIR   1   Manya Koetse, “The Controversial Case of the Chinese Gene-Edited Baby Twins and Reactions on Weibo,” What’s On Weibo, November 28, 2018.   2   J.


pages: 903 words: 235,753

The Stack: On Software and Sovereignty by Benjamin H. Bratton

1960s counterculture, 3D printing, 4chan, Ada Lovelace, Adam Curtis, additive manufacturing, airport security, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, algorithmic trading, Amazon Mechanical Turk, Amazon Robotics, Amazon Web Services, Andy Rubin, Anthropocene, augmented reality, autonomous vehicles, basic income, Benevolent Dictator For Life (BDFL), Berlin Wall, bioinformatics, Biosphere 2, bitcoin, blockchain, Buckminster Fuller, Burning Man, call centre, capitalist realism, carbon credits, carbon footprint, carbon tax, carbon-based life, Cass Sunstein, Celebration, Florida, Charles Babbage, charter city, clean water, cloud computing, company town, congestion pricing, connected car, Conway's law, corporate governance, crowdsourcing, cryptocurrency, dark matter, David Graeber, deglobalization, dematerialisation, digital capitalism, digital divide, disintermediation, distributed generation, don't be evil, Douglas Engelbart, Douglas Engelbart, driverless car, Edward Snowden, Elon Musk, en.wikipedia.org, Eratosthenes, Ethereum, ethereum blockchain, Evgeny Morozov, facts on the ground, Flash crash, Frank Gehry, Frederick Winslow Taylor, fulfillment center, functional programming, future of work, Georg Cantor, gig economy, global supply chain, Google Earth, Google Glasses, Guggenheim Bilbao, High speed trading, high-speed rail, Hyperloop, Ian Bogost, illegal immigration, industrial robot, information retrieval, Intergovernmental Panel on Climate Change (IPCC), intermodal, Internet of things, invisible hand, Jacob Appelbaum, James Bridle, Jaron Lanier, Joan Didion, John Markoff, John Perry Barlow, Joi Ito, Jony Ive, Julian Assange, Khan Academy, Kim Stanley Robinson, Kiva Systems, Laura Poitras, liberal capitalism, lifelogging, linked data, lolcat, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, Masdar, McMansion, means of production, megacity, megaproject, megastructure, Menlo Park, Minecraft, MITM: man-in-the-middle, Monroe Doctrine, Neal Stephenson, Network effects, new economy, Nick Bostrom, ocean acidification, off-the-grid, offshore financial centre, oil shale / tar sands, Oklahoma City bombing, OSI model, packet switching, PageRank, pattern recognition, peak oil, peer-to-peer, performance metric, personalized medicine, Peter Eisenman, Peter Thiel, phenotype, Philip Mirowski, Pierre-Simon Laplace, place-making, planetary scale, pneumatic tube, post-Fordism, precautionary principle, RAND corporation, recommendation engine, reserve currency, rewilding, RFID, Robert Bork, Sand Hill Road, scientific management, self-driving car, semantic web, sharing economy, Silicon Valley, Silicon Valley ideology, skeuomorphism, Slavoj Žižek, smart cities, smart grid, smart meter, Snow Crash, social graph, software studies, South China Sea, sovereign wealth fund, special economic zone, spectrum auction, Startup school, statistical arbitrage, Steve Jobs, Steven Levy, Stewart Brand, Stuxnet, Superbowl ad, supply-chain management, supply-chain management software, synthetic biology, TaskRabbit, technological determinism, TED Talk, the built environment, The Chicago School, the long tail, the scientific method, Torches of Freedom, transaction costs, Turing complete, Turing machine, Turing test, undersea cable, universal basic income, urban planning, Vernor Vinge, vertical integration, warehouse automation, warehouse robotics, Washington Consensus, web application, Westphalian system, WikiLeaks, working poor, Y Combinator, yottabyte

Today's political geographic conflicts are often defined as exceptions to that normal model, and many are driven, enabled, or enforced in significant measure by planetary computation: byzantine international and subnational bodies, a proliferation of enclaves and exclaves, noncontiguous states, diasporic nationalisms, global brand affiliations, wide-scale demographic mobilization and containment, free trade corridors and special economic zones, massive file-sharing networks both legal and illegal, material and manufacturing logistical vectors, polar and subpolar resource appropriations, panoptic satellite platforms, alternative currencies, atavistic and irredentist religious imaginaries, cloud data and social-graph identity platforms, big data biopolitics of population medicine, equities markets held in place by an algorithmic arms race of supercomputational trading, deep cold wars over data aggregation across state and party lines, and so on.

In the end, this economy of reversible partitions supersedes the integrity of external and internal borders, such that any polity is always an incomplete complex of smaller subpolities, defined for itself according to its own private exceptions, both inward and outward-facing: capital cities, special economic zones, overseas territories, embassies, local ordinances, and so on. Even with these buffers, the stability of state polity is always in question, because to the extent that the state suppresses its original constituting violence (war, revolution, settler colonialism), all future agents of subsequent exceptional violence against that state become ghosts of those first rites of legal absolution and self-exception, their most exacting patriots in a way.

Lines are agents of geopolitical form and their various types (e.g., lines of flight, lines of intensification, lines of transformation and subdivision) curve into the frames that present geopolitics to itself: the border, fenestration, aperture, plan, section, elevation, orifice, capital city, special economic zone, demilitarized zone.28 When the nomic line that partitions polities from one another is looped, it too becomes a frame, and as a form of geopolitical design, these arrange and present political geography. For contemporary governance, the simultaneous unwinding and reinforcement of modern jurisdiction, and its fragile pairing of geography and law in mutually validating representational systems, hopes to organize the world according to certain framings, and it defends its drawings with force.


pages: 382 words: 107,150

We Are All Fast-Food Workers Now: The Global Uprising Against Poverty Wages by Annelise Orleck

"World Economic Forum" Davos, airport security, American Legislative Exchange Council, anti-communist, Bernie Sanders, big-box store, Black Lives Matter, British Empire, call centre, Capital in the Twenty-First Century by Thomas Piketty, card file, clean water, collective bargaining, corporate social responsibility, deindustrialization, Deng Xiaoping, Donald Trump, export processing zone, Ferguson, Missouri, financial deregulation, food desert, Food sovereignty, gentrification, gig economy, global supply chain, global value chain, immigration reform, independent contractor, indoor plumbing, Jeremy Corbyn, Kickstarter, land reform, land tenure, Mahatma Gandhi, mass immigration, McJob, means of production, new economy, payday loans, precariat, race to the bottom, Rana Plaza, rent-seeking, ride hailing / ride sharing, road to serfdom, Ronald Reagan, Rosa Parks, shareholder value, Shenzhen special economic zone , Skype, special economic zone, Triangle Shirtwaist Factory, union organizing, War on Poverty, women in the workforce, working poor

Gordon Laird, The Price of a Bargain: The Quest for Cheap and the Death of Globalization (New York: Palgrave Macmillan, 2008). 6. Cecile Fruman and Douglas Zeng, “How to Make Zones Work Better in Africa,” Private Sector Development (blog), World Bank, July 27, 2015; Douglas Zeng, “Why Are More Countries Embracing Industrial Zones?,” May 5, 2015, Special Economic Zones (blog), World Bank, http://blogs.worldbank.org/category/tags/special-economic-zones; Matt Kennard and Claire Provost, “Inside the Corporate Utopias Where Capitalism Rules and Labor Laws Don’t Apply,” In These Times, July 25, 2016. 7. “Export Processing Zones Growing Steadily,” International Labour Organization, September 28, 1998; Bangladesh Export Processing Zones Authority, “About BEPZA,” http://www.epzbangladesh.org.bd; Aycil Yucer and Jean-Marc Siroen, “Trade Performance of Export Processing Zones,” World Economy 39, no. 7 (April 2016). 8.

Garment workers speak of “a global race to the bottom,” says Filipina organizer Asuncion Binos. “We in the Philippines have come a long way down.” By the 2010s, countries with decent wage and labor protections could only compete if they established export zones where strikes were banned and labor regulations suspended. Global lenders offered rewards for creating “special economic zones.” The garment workers’ musical group the Messenger Band sings about the process as it unfolded in Cambodia. “Donors give aid loans but with conditions attached. The debt ties the hands of our government. This is not a destiny. Many countries have suffered. . . . The loans look good but they are chains around our necks.

Many export-zone workers migrate from rural areas, forced off their lands by corporate developers or government leases to foreign mining and agribusiness companies. Migrants hope that the money they send home will keep their families afloat. Sometimes it does. In China alone, between 1996 and 2008, 130 million people moved to find work—many of them landing in export zones. Shenzhen, site of China’s first export-processing zone and of five other “special economic zones,” grew from a town of thirty thousand in 1980 to a city of twelve million by 2015—eighteen million if you count its vast suburbs. By 2012, Guangdong province had sixty thousand factories. It produced one-third of the world’s textiles, shoes, and toys.5 Opinion on these zones is sharply divided.


pages: 464 words: 116,945

Seventeen Contradictions and the End of Capitalism by David Harvey

accounting loophole / creative accounting, Alvin Toffler, bitcoin, Branko Milanovic, Bretton Woods, BRICs, British Empire, business climate, California gold rush, call centre, central bank independence, Charles Babbage, classic study, clean water, cloud computing, collapse of Lehman Brothers, colonial rule, company town, cotton gin, creative destruction, Credit Default Swap, David Ricardo: comparative advantage, death from overwork, deindustrialization, demographic dividend, Deng Xiaoping, deskilling, drone strike, end world poverty, falling living standards, fiat currency, first square of the chessboard, first square of the chessboard / second half of the chessboard, Food sovereignty, Frank Gehry, future of work, gentrification, global reserve currency, Great Leap Forward, Guggenheim Bilbao, Gunnar Myrdal, Herbert Marcuse, income inequality, informal economy, invention of the steam engine, invisible hand, Isaac Newton, Jane Jacobs, Jarndyce and Jarndyce, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Just-in-time delivery, knowledge worker, low skilled workers, Mahatma Gandhi, market clearing, Martin Wolf, means of production, microcredit, military-industrial complex, Money creation, Murray Bookchin, new economy, New Urbanism, Occupy movement, peak oil, phenotype, planned obsolescence, plutocrats, Ponzi scheme, quantitative easing, rent-seeking, reserve currency, road to serfdom, Robert Gordon, Ronald Reagan, Savings and loan crisis, scientific management, short selling, Silicon Valley, special economic zone, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, transaction costs, Tyler Cowen, Tyler Cowen: Great Stagnation, wages for housework, Wall-E, women in the workforce, working poor, working-age population

There is a good deal of evidence that the coercive power of the state played an important role in opening spaces within which capital could flourish well before private property regimes became dominant. This was as true in the transition from feudalism to capitalism in Europe as it later became when the Chinese set up special economic zones for capitalist activity in southern China after 1980. But in between usufructuary and private property rights lies a plethora of common property or customary rights, which are often confined to a given polity (like a village community or more broadly across a whole cultural regime). These rights are not necessarily open to all, but they do presuppose sharing and cooperative forms of governance between the members of the polity.

So pervasive and palpable has this tension been that policymakers now seek to capture the possibilities of knowledge-based, cultural and creative economies by centralised initiatives that support the decentralisation and deregulation of economic and political power. This is what the central state’s creation of ‘special economic zones’ in China and India is supposed to be about. Elsewhere, development is left to local initiatives on the part of increasingly entrepreneurial local state or regional metropolitan apparatuses. The hope is to replicate the conditions that sparked the innovations behind the digital revolution and the rise of the so-called ‘new economy’ of the 1990s, which, in spite of the way it crashed and burned at the close of the century, left in its wake a radical reordering of capitalist technologies.

., Disposable Women and Other Myths of Global Capitalism, New York, Routledge, 2006 Index Numbers in italics indicate Figures. 2001: A Space Odyssey (film) 271 A Abu Ghraib, Iraq 202 acid deposition 255, 256 advertising 50, 121, 140, 141, 187, 197, 236, 237, 275, 276 Aeschylus 291 Afghanistan 202, 290 Africa and global financial crisis 170 growth 232 indigenous population and property rights 39 labour 107, 108, 174 ‘land grabs’ 39, 58, 77, 252 population growth 230 Agamben, Giorgio 283–4 agglomeration 149, 150 economies 149 aggregate demand 20, 80, 81, 104, 173 aggregate effective demand 235 agribusiness 95, 133, 136, 206, 247, 258 agriculture ix, 39, 61, 104, 113, 117, 148, 229, 239, 257–8, 261 Alabama 148 Algerian War (1954–62) 288, 290 alienation 57, 69, 125, 126, 128, 129, 130, 198, 213, 214, 215, 263, 266–70, 272, 275–6, 279–80, 281, 286, 287 Allende, Salvador 201 Althusser, Louis 286 Amazon 131, 132 Americas colonisation of 229 indigenous populations 283 Amnesty International 202 anti-capitalist movements 11, 14, 65, 110, 111, 162 anti-capitalist struggle 14, 110, 145, 193, 269, 294 anti-globalisation 125 anti-terrorism xiii apartheid 169, 202, 203 Apple 84, 123, 131 apprenticeships 117 Arab Spring movement 280 Arbenz, Jacobo 201 Argentina 59, 107, 152, 160, 232 Aristotelianism 283, 289 Aristotle 1, 4, 200, 215 arms races 93 arms traffickers 54 Arrighi, Giovanni 136 Adam Smith in Beijing 142 Arthur, Brian: The Nature of Technology 89, 95–9, 101–4, 110 artificial intelligence xii, 104, 108, 120, 139, 188, 208, 295 Asia ‘land grabs’ 58 urbanisation 254 assembly lines 119 asset values and the credit system 83 defined 240 devalued 257 housing market 19, 20, 21, 58, 133 and predatory lending 133 property 76 recovery of 234 speculation 83, 101, 179 associationism 281 AT&T 131 austerity xi, 84, 177, 191, 223 Australia 152 autodidacts 183 automation xii, 103, 105, 106, 108, 138, 208, 215, 295 B Babbage, Charles 119 Bangkok riots, Thailand (1968) x Bangladesh dismantlement of old ships 250 factories 129, 174, 292 industrialisation 123 labour 108, 123, 129 protests against unsafe labour conditions 280 textile mill tragedies 249 Bank of England 45, 46 banking bonuses 164 electronic 92, 100, 277 excessive charges 84 interbank lending 233 and monopoly power 143 national banks supplant local banking in Britain and France 158 net transfers between banks 28 power of bankers 75 private banks 233 profits 54 regional banks 158 shell games 54–5 systematic banking malfeasance 54, 61 Baran, Paul and Sweezy, Paul: Monopoly Capitalism 136 Barcelona 141, 160 barrios pobres ix barter 24, 25, 29 Battersea Power Station, London 255 Battle of Algiers, The (film) 288 Bavaria, Germany 143, 150 Becker, Gary 186 Bernanke, Ben 47 Bhutan 171 billionaires xi, 165, 169, 170 biodiversity 246, 254, 255, 260 biofuels 3 biomedical engineering xii Birmingham 149 Bitcoin 36, 109 Black Panthers 291 Blade Runner (film) 271 Blankfein, Lloyd 239–40 Bohr, Niels 70 Bolivia 257, 260, 284 bondholders xii, 32, 51, 152, 158, 223, 240, 244, 245 bonuses 54, 77, 164, 178 Bourdieu, Pierre 186, 187 bourgeois morality 195 bourgeois reformism 167, 211 ‘Brady Bonds’ 240 Braudel, Fernand 193 Braverman, Harry: Labor and Monopoly Capital 119 Brazil a BRIC country 170, 228 coffee growers 257 poverty grants 107 unrest in (2013) 171, 243, 293 Brecht, Bertolt 265, 293 Bretton Woods (1944) 46 brewing trade 138 BRIC countries 10, 170, 174, 228 Britain alliance between state and London merchant capitalists 44–5 banking 158 enclosure movement 58 lends to United States (nineteenth century) 153 suppression of Mau Mau 291 surpluses of capital and labour sent to colonies 152–3 welfare state 165 see also United Kingdom British Empire 115, 174 British Museum Library, London 4 British Petroleum (BP) 61, 128 Buffett, Peter 211–12, 245, 283, 285 Buffett, Warren 211 bureaucracy 121–2, 165, 203, 251 Bush, George, Jr 201, 202 C Cabet, Étienne 183 Cabral, Amilcar 291 cadastral mapping 41 Cadbury 18 Cairo uprising (2011) 99 Calhoun, Craig 178 California 29, 196, 254 Canada 152 Cape Canaveral, Florida 196 capital abolition of monopolisable skills 119–20 aim of 92, 96–7, 232 alternatives to 36, 69, 89, 162 annihilation of space through time 138, 147, 178 capital-labour contradiction 65, 66, 68–9 and capitalism 7, 57, 68, 115, 166, 218 centralisation of 135, 142 circulation of 5, 7, 8, 53, 63, 67, 73, 74, 75, 79, 88, 99, 147, 168, 172, 177, 234, 247, 251, 276 commodity 74, 81 control over labour 102–3, 116–17, 166, 171–2, 274, 291–2 creation of 57 cultural 186 destruction of 154, 196, 233–4 and division of labour 112 economic engine of 8, 10, 97, 168, 172, 200, 253, 265, 268 evolution of 54, 151, 171, 270 exploitation by 156, 195 fictitious 32–3, 34, 76, 101, 110–11, 239–42 fixed 75–8, 155, 234 importance of uneven geographical development to 161 inequality foundational for 171–2 investment in fixed capital 75 innovations 4 legal-illegal duality 72 limitless growth of 37 new form of 4, 14 parasitic forms of 245 power of xii, 36, 47 private capital accumulation 23 privatisation of 61 process-thing duality 70–78 profitability of 184, 191–2 purpose of 92 realisation of 88, 173, 192, 212, 231, 235, 242, 268, 273 relation to nature 246–63 reproduction of 4, 47, 55, 63, 64, 88, 97, 108, 130, 146, 161, 168, 171, 172, 180, 181, 182, 189, 194, 219, 233, 252 spatiality of 99 and surplus value 63 surpluses of 151, 152, 153 temporality of 99 tension between fixed and circulating capital 75–8, 88, 89 turnover time of 73, 99, 147 and wage rates 173 capital accumulation, exponential growth of 229 capital gains 85, 179 capital accumulation 7, 8, 75, 76, 78, 102, 149, 151–5, 159, 172, 173, 179, 192, 209, 223, 228–32, 238, 241, 243, 244, 247, 273, 274, 276 basic architecture for 88 and capital’s aim 92, 96 collapse of 106 compound rate of 228–9 and the credit system 83 and democratisation 43 and demographic growth 231 and household consumerism 192 and lack of aggregate effective demand in the market 81 and the land market 59 and Marx 5 maximising 98 models of 53 in a new territories 152–3 perpetual 92, 110, 146, 162, 233, 265 private 23 promotion of 34 and the property market 50 recent problems of 10 and the state 48 capitalism ailing 58 an alternative to 36 and capital 7, 57, 68, 115, 166, 218 city landscape of 160 consumerist 197 contagious predatory lawlessness within 109 crises essential to its reproduction ix; defined 7 and demand-side management 85 and democracy 43 disaster 254–5, 255 economic engine of xiii, 7–8, 11, 110, 220, 221, 252, 279 evolution of 218 geographical landscape of 146, 159 global xi–xii, 108, 124 history of 7 ‘knowledge-based’ xii, 238 and money power 33 and a moneyless economy 36 neoliberal 266 political economy of xiv; and private property rights 41 and racialisation 8 reproduction of ix; revivified xi; vulture 162 capitalist markets 33, 53 capitalo-centric studies 10 car industry 121, 138, 148, 158, 188 carbon trading 235, 250 Caribbean migrants 115 Cartesian thinking 247 Cato Institute 143 Central America 136 central banks/bankers xi–xii, 37, 45, 46, 48, 51, 109, 142, 156, 161, 173, 233, 245 centralisation 135, 142, 144, 145, 146, 149, 150, 219 Césaire, Aimé 291 CFCs (chloro-fluorocarbons) 248, 254, 256, 259 chambers of commerce 168 Chandler, Alfred 141 Chaplin, Charlie 103 Charles I, King 199 Chartism 184 Chávez, Hugo 123, 201 cheating 57, 61, 63 Cheney, Dick 289 Chicago riots (1968) x chicanery 60, 72 children 174 exploitation of 195 raising 188, 190 trading of 26 violence and abuse of 193 Chile 136, 194, 280 coup of 1973 165, 201 China air quality 250, 258 becomes dynamic centre of a global capitalism 124 a BRIC country 170, 228 capital in (after 2000) 154 class struggles 233 and competition 150, 161 consumerism 194–5, 236 decentralisation 49 dirigiste governmentality 48 dismantlement of old ships 250 dispossessions in 58 education 184, 187 factories 123, 129, 174, 182 famine in 124–5 ‘great leap forward’ 125 growth of 170, 227, 232 income inequalities 169 industrialisation 232 Keynesian demand-side and debt-financed expansion xi; labour 80, 82, 107, 108, 123, 174, 230 life expectancy 259 personal debt 194 remittances 175 special economic zones 41, 144 speculative booms and bubbles in housing markets 21 suburbanisation 253 and technology 101 toxic batteries 249–50 unstable lurches forward 10 urban and infrastructural projects 151 urbanisation 232 Chinese Communist Party 108, 142 Church, the 185, 189, 199 circular cumulative causation 150 CitiBank 61 citizenship rights 168 civil rights 202, 205 class affluent classes 205 alliances 143, 149 class analysis xiii; conflict 85, 159 domination 91, 110 plutocratic capitalist xiii; power 55, 61, 88, 89, 92, 97, 99, 110, 134, 135, 221, 279 and race 166, 291 rule 91 structure 91 class struggle 34, 54, 67, 68, 85, 99, 103, 110, 116, 120, 135, 159, 172, 175, 183, 214, 233 climate change 4, 253–6, 259 Clinton, President Bill 176 Cloud Atlas (film) 271 CNN 285 coal 3, 255 coercion x, 41–4, 53, 60–63, 79, 95, 201, 286 Cold War 153, 165 collateralised debt obligations (CDOs) 78 Collins, Suzanne: The Hunger Games 264 Colombia 280 colonialism 257 the colonised 289–90 indigenous populations 39, 40 liberation from colonial rule 202 philanthropic 208, 285 colonisation 229, 262 ‘combinatorial evolution’ 96, 102, 104, 146, 147, 248 commercialisation 262, 263, 266 commodification 24, 55, 57, 59–63, 88, 115, 140, 141, 192, 193, 235, 243, 251, 253, 260, 262, 263, 273 commodities advertising 275 asking price 31 and barter 24 commodity exchange 39, 64 compared with products 25–6 defective or dangerous 72 definition 39 devaluation of 234 exchange value 15, 25 falling costs of 117 importance of workers as buyers 80–81 international trade in 256 labour power as a commodity 62 low-value 29 mobility of 147–8 obsolescence 236 single metric of value 24 unique 140–41 use value 15, 26, 35 commodity markets 49 ‘common capital of the class’ 142, 143 common wealth created by social labour 53 private appropriation of 53, 54, 55, 61, 88, 89 reproduction of 61 use values 53 commons collective management of 50 crucial 295 enclosure of 41, 235 natural 250 privatised 250 communications 99, 147, 148, 177 communism 196 collapse of (1989) xii, 165 communist parties 136 during Cold War 165 scientific 269 socialism/communism 91, 269 comparative advantage 122 competition and alienated workers 125 avoiding 31 between capitals 172 between energy and food production 3 decentralised 145 and deflationary crisis (1930s) 136 foreign 148, 155 geopolitical 219 inter-capitalist 110 international 154, 175 interstate 110 interterritorial 219 in labour market 116 and monopoly 131–45, 146, 218 and technology 92–3 and turnover time of capital 73, 99 and wages 135 competitive advantage 73, 93, 96, 112, 161 competitive market 131, 132 competitiveness 184 complementarity principle of 70 compounding growth 37, 49, 222, 227, 228, 233, 234, 235, 243, 244 perpetual 222–45, 296 computerisation 100, 120, 222 computers 92, 100, 105, 119 hardware 92, 101 organisational forms 92, 93, 99, 101 programming 120 software 92, 99, 101, 115, 116 conscience laundering 211, 245, 284, 286 Conscious Capitalism 284 constitutional rights 58 constitutionality 60, 61 constitutions progressive 284 and social bond between human rights and private property 40 US Constitution 284 and usurpation of power 45 consumerism 89, 106, 160, 192–5, 197, 198, 236, 274–7 containerisation 138, 148, 158 contracts 71, 72, 93, 207 contradictions Aristotelian conception of 4 between money and the social labour money represents 83 between reality and appearance 4–6 between use and exchange value 83 of capital and capitalism 68 contagious intensification of 14 creative use of 3 dialectical conception of 4 differing reactions to 2–3 and general crises 14 and innovation 3 moved around rather than resolved 3–4 multiple 33, 42 resolution of 3, 4 two modes of usage 1–2 unstable 89 Controller of the Currency 120 corporations and common wealth 54 corporate management 98–9 power of 57–8, 136 and private property 39–40 ‘visible hand’ 141–2 corruption 53, 197, 266 cosmopolitanism 285 cost of living 164, 175 credit cards 67, 133, 277 credit card companies 54, 84, 278 credit financing 152 credit system 83, 92, 101, 111, 239 crises changes in mental conceptions of the world ix-x; crisis of capital 4 defined 4 essential to the reproduction of capitalism ix; general crisis ensuing from contagions 14 housing markets crisis (2007–9) 18, 20, 22 reconfiguration of physical landscapes ix; slow resolution of x; sovereign debt crisis (after 2012) 37 currency markets, turbulence of (late 1960s) x customary rights 41, 59, 198 D Davos conferences 169 DDT 259 Debord, Guy: The Society of the Spectacle 236 debt creation 236 debt encumbrancy 212 debt peonage 62, 212 decentralisation 49, 142, 143, 144, 146, 148, 219, 281, 295 Declaration of Independence (US) 284 decolonisation 282, 288, 290 decommodification 85 deindustrialisation xii, 77–8, 98, 110, 148, 153, 159, 234 DeLong, Bradford 228 demand management 81, 82, 106, 176 demand-side management 85 democracy 47, 215 bourgeois 43, 49 governance within capitalism 43 social 190 totalitarian 220, 292 democratic governance 220, 266 democratisation 43 Deng Xiaoping x depressions 49, 227 1930s x, 108, 136, 169, 227, 232, 234 Descartes, René 247 Detroit 77, 136, 138, 148, 150, 152, 155, 159, 160 devaluation 153, 155, 162 of capital 233 of commodities 234 crises 150–51, 152, 154 localised 154 regional 154 developing countries 16, 240 Dhaka, Bangladesh 77 dialectics 70 Dickens, Charles 126, 169 Bleak House 226 Dombey and Son 184 digital revolution 144 disabled, the 202 see also handicapped discrimination 7, 8, 68, 116, 297 diseases 10, 211, 246, 254, 260 disempowerment 81, 103, 116, 119, 198, 270 disinvestment 78 Disneyfication 276 dispossession accumulation by 60, 67, 68, 84, 101, 111, 133, 141, 212 and capital 54, 55, 57 economies of 162 of indigenous populations 40, 59, 207 ‘land grabs’ 58 of land rights of the Irish 40 of the marginalised 198 political economy of 58 distributional equality 172 distributional shares 164–5, 166 division of labour 24, 71, 112–30, 154, 184, 268, 270 and Adam Smith 98, 118 defined 112 ‘the detail division of labour’ 118, 121 distinctions and oppositions 113–14 evolution of 112, 120, 121, 126 and gender 114–15 increasing complexity of 124, 125, 126 industrial proletariat 114 and innovation 96 ‘new international division of labour’ 122–3 organisation of 98 proliferating 121 relation between the parts and the whole 112 social 113, 118, 121, 125 technical 113, 295 uneven geographical developments in 130 dot-com bubble (1990s) 222–3, 241 ‘double coincidence of wants and needs’ 24 drugs 32, 193, 248 cartels 54 Durkheim, Emile 122, 125 Dust Bowl (United States, 1930s) 257 dynamism 92, 104, 146, 219 dystopia 229, 232, 264 E Eagleton , Terry: Why Marx Was Right 1, 21, 200, 214–15 East Asia crisis of 1997–98 154 dirigiste governmentality 48 education 184 rise of 170 Eastern Europe 115, 230 ecological offsets 250 economic rationality 211, 250, 252, 273, 274, 275, 277, 278, 279 economies 48 advanced capitalist 228, 236 agglomeration 149 of dispossession 162 domination of industrial cartels and finance capital 135 household 192 informal 175 knowledge-based 188 mature 227–8 regional 149 reoriented to demand-side management 85 of scale 75 solidarity 66, 180 stagnant xii ecosystems 207, 247, 248, 251–6, 258, 261, 263, 296 Ecuador 46, 152, 284 education 23, 58, 60, 67–8, 84, 110, 127–8, 129, 134, 150, 156, 168, 183, 184, 185, 187, 188, 189, 223, 235, 296 efficiency 71, 92, 93, 98, 103, 117, 118, 119, 122, 126, 272, 273, 284 efficient market hypothesis 118 Egypt 107, 280, 293 Ehrlich, Paul 246 electronics 120, 121, 129, 236, 292 emerging markets 170–71, 242 employment 37 capital in command of job creation 172, 174 conditions of 128 full-time 274 opportunities for xii, 108, 168 regional crises of 151 of women 108, 114, 115, 127 see also labour enclosure movement 58 Engels, Friedrich 70 The Condition of the English Working Class in England 292 English Civil War (1642–9) 199 Enlightenment 247 Enron 133, 241 environmental damage 49, 61, 110, 111, 113, 232, 249–50, 255, 257, 258, 259, 265, 286, 293 environmental movement 249, 252 environmentalism 249, 252–3 Epicurus 283 equal rights 64 Erasmus, Desiderius 283 ethnic hatreds and discriminations 8, 165 ethnic minorities 168 ethnicisation 62 ethnicity 7, 68, 116 euro, the 15, 37, 46 Europe deindustrialisation in 234 economic development in 10 fascist parties 280 low population growth rate 230 social democratic era 18 unemployment 108 women in labour force 230 European Central Bank 37, 46, 51 European Commission 51 European Union (EU) 95, 159 exchange values commodities 15, 25, 64 dominance of 266 and housing 14–23, 43 and money 28, 35, 38 uniform and qualitatively identical 15 and use values 15, 35, 42, 44, 50, 60, 65, 88 exclusionary permanent ownership rights 39 experts 122 exploitation 49, 54, 57, 62, 68, 75, 83, 107, 108, 124, 126, 128, 129, 150, 156, 159, 166, 175, 176, 182, 185, 193, 195, 208, 246, 257 exponential growth 224, 240, 254 capacity for 230 of capital 246 of capital accumulation 223, 229 of capitalist activity 253 and capital’s ecosystem 255 in computer power 105 and environmental resources 260 in human affairs 229 and innovations in finance and banking 100 potential dangers of 222, 223 of sophisticated technologies 100 expropriation 207 externality effects 43–4 Exxon 128 F Facebook 236, 278, 279 factories ix, 123, 129, 160, 174, 182, 247, 292 Factory Act (1864) 127, 183 famine 124–5, 229, 246 Fannie Mae 50 Fanon, Frantz 287 The Wretched of the Earth 288–90, 293 fascist parties 280 favelas ix, 16, 84, 175 feminisation 115 feminists 189, 192, 283 fertilisers 255 fetishes, fetishism 4–7, 31, 36–7, 61, 103, 111, 179, 198, 243, 245, 269, 278 feudalism 41 financial markets 60, 133 financialisation 238 FIRE (finance, insurance and real estate) sections 113 fishing 59, 113, 148, 249, 250 fixity and motion 75–8, 88, 89, 146, 155 Food and Drug Administration 120 food production/supply 3, 229, 246, 248, 252 security 253, 294, 296 stamp aid 206, 292 Ford, Martin 104–8, 111, 273 foreclosure 21, 22, 24, 54, 58, 241, 268 forestry 113, 148, 257 fossil fuels 3–4 Foucault, Michel xiii, 204, 209, 280–81 Fourier, François Marie Charles 183 Fourierists 18 Fourteen Points 201 France banking 158 dirigiste governmentality under de Gaulle 48 and European Central Bank 46 fascist parties 280 Francis, Pope 293 Apostolic Exhortation 275–6 Frankfurt School 261 Freddie Mac 50 free trade 138, 157 freedom 47, 48, 142, 143, 218, 219, 220, 265, 267–270, 276, 279–82, 285, 288, 296 and centralised power 142 cultural 168 freedom and domination 199–215, 219, 268, 285 and the good life 215 and money creation 51 popular desire for 43 religious 168 and state finances 48 under the rule of capital 64 see also liberty and freedom freedom of movement 47, 296 freedom of thought 200 freedom of the press 213 French Revolution 203, 213, 284 G G7 159 G20 159 Gallup survey of work 271–2 Gandhi, Mahatma 284, 291 Gaulle, Charles de 48 gay rights 166 GDP 194, 195, 223 Gehry, Frank 141 gender discriminations 7, 8, 68, 165 gene sequences 60 General Motors xii genetic engineering xii, 101, 247 genetic materials 235, 241, 251, 261 genetically modified foods 101 genocide 8 gentrification 19, 84, 141, 276 geocentric model 5 geographical landscape building a new 151, 155 of capitalism 159 evolution of 146–7 instability of 146 soulless, rationalised 157 geopolitical struggles 8, 154 Germany and austerity 223 autobahns built 151 and European Central Bank 46 inflation during 1920s 30 wage repression 158–9 Gesell, Silvio 35 Ghana 291 global economic crisis (2007–9) 22, 23, 47, 118, 124, 132, 151, 170, 228, 232, 234, 235, 241 global financialisation x, 177–8 global warming 260 globalisation 136, 174, 176, 179, 223, 293 gold 27–31, 33, 37, 57, 227, 233, 238, 240 Golden Dawn 280 Goldman Sachs 75, 239 Google 131, 136, 195, 279 Gordon, Robert 222, 223, 230, 239, 304n2 Gore, Al 249 Gorz, André 104–5, 107, 242, 270–77, 279 government 60 democratic 48 planning 48 and social bond between human rights and private property 40 spending power 48 governmentality 43, 48, 157, 209, 280–81, 285 Gramsci, Antonio 286, 293 Greco, Thomas 48–9 Greece 160, 161, 162, 171, 235 austerity 223 degradation of the well-being of the masses xi; fascist parties 280 the power of the bondholders 51, 152 greenwashing 249 Guantanamo Bay, Cuba 202, 284 Guatemala 201 Guevara, Che 291 Guggenheim Museum, Bilbao 141 guild system 117 Guinea-Bissau 291 Gulf Oil Spill (2010) 61 H Habermas, Jürgen 192 habitat 246, 249, 252, 253, 255 handicapped, the 218 see also disabled Harvey, David The Enigma of Capital 265 Rebel Cities 282 Hayek, Friedrich 42 Road to Serfdom 206 health care 23, 58, 60, 67–8, 84, 110, 134, 156, 167, 189, 190, 235, 296 hedge funds 101, 162, 239, 241, 249 managers 164, 178 Heidegger, Martin 59, 250 Heritage Foundation 143 heterotopic spaces 219 Hill, Christopher 199 Ho Chi Minh 291 holocausts 8 homelessness 58 Hong Kong 150, 160 housing 156, 296 asset values 19, 20, 21, 58 ‘built to order’ 17 construction 67 controlling externalities 19–20 exchange values 14–23, 43 gated communities ix, 160, 208, 264 high costs 84 home ownership 49–50 investing in improvements 20, 43 mortgages 19, 21, 28, 50, 67, 82 predatory practices 67, 133 production costs 17 rental markets 22 renting or leasing 18–19, 67 self-built 84 self-help 16, 160 slum ix, 16, 175 social 18, 235 speculating in exchange value 20–22 speculative builds 17, 28, 78, 82 tenement 17, 160 terraced 17 tract ix, 17, 82 use values 14–19, 21–2, 23, 67 housing markets 18, 19, 21, 22, 28, 32, 49, 58, 60, 67, 68, 77, 83, 133, 192 crisis (2007–9) 18, 20, 22, 82–3 HSBC 61 Hudson, Michael 222 human capital theory 185, 186 human evolution 229–30 human nature 97, 198, 213, 261, 262, 263 revolt of 263, 264–81 human rights 40, 200, 202 humanism 269 capitalist 212 defined 283 education 128 excesses and dark side 283 and freedom 200, 208, 210 liberal 210, 287, 289 Marxist 284, 286 religious 283 Renaissance 283 revolutionary 212, 221, 282–93 secular 283, 285–6 types of 284 Hungary: fascist parties 280 Husserl, Edmund 192 Huygens, Christiaan 70 I IBM 128 Iceland: banking 55 identity politics xiii illegal aliens (‘sans-papiers’) 156 illegality 61, 72 immigrants, housing 160 imperialism 135, 136, 143, 201, 257, 258 income bourgeois disposable 235 disparities of 164–81 levelling up of 171 redistribution to the lower classes xi; see also wages indebtedness 152, 194, 222 India billionaires in 170 a BRIC country 170, 228 call centres 139 consumerism 236 dismantlement of old ships 250 labour 107, 230 ‘land grabs’ 77 moneylenders 210 social reproduction in 194 software engineers 196 special economic zones 144 unstable lurches forward 10 indigenous populations 193, 202, 257, 283 dispossession of 40, 59, 207 and exclusionary ownership rights 39 individualism 42, 197, 214, 281 Indonesia 129, 160 industrial cartels 135 Industrial Revolution 127 industrialisation 123, 189, 229, 232 inflation 30, 36, 37, 40, 49, 136, 228, 233 inheritance 40 Inner Asia, labour in 108 innovation 132 centres of 96 and the class struggle 103 competitive 219 as a double-edged sword xii; improving the qualities of daily life 4 labour-saving 104, 106, 107, 108 logistical 147 organisational 147 political 219 product 93 technological 94–5, 105, 147, 219 as a way out of a contradiction 3 insurance companies 278 intellectual property rights xii, 41, 123, 133, 139, 187, 207, 235, 241–2, 251 interest compound 5, 222, 224, 225, 226–7 interest-rate manipulations 54 interest rates 54, 186 living off 179, 186 on loans 17 money capital 28, 32 and mortgages 19, 67 on repayment of loans to the state 32 simple 225, 227 usury 49 Internal Revenue Service income tax returns 164 International Monetary Fund (IMF) 49, 51, 100, 143, 161, 169, 186, 234, 240 internet 158, 220, 278 investment: in fixed capital 75 investment pension funds 35–6 IOUs 30 Iran 232, 289 Iranian Revolution 289 Iraq war 201, 290 Ireland dispossession of land rights 40 housing market crash (2007–9) 82–3 Istanbul 141 uprising (2013) 99, 129, 171, 243 Italy 51,161, 223, 235 ITT 136 J Jacobs, Jane 96 James, C.L.R. 291 Japan 1980s economic boom 18 capital in (1980s) 154 economic development in 10 factories 123 growth rate 227 land market crash (1990) 18 low population growth rate 230 and Marshall Plan 153 post-war recovery 161 Jewish Question 213 JPMorgan 61 Judaeo-Christian tradition 283 K Kant, Immanuel 285 Katz, Cindi 189, 195, 197 Kenya 291 Kerala, India 171 Keynes, John Maynard xi, 46, 76, 244, 266 ‘Economic Possibilities for our Grandchildren’ 33–4 General Theory of Employment, Interest, and Money 35 Keynesianism demand management 82, 105, 176 demand-side and debt-financed expansion xi King, Martin Luther 284, 291 knowledge xii, 26, 41, 95, 96, 100, 105, 113, 122, 123, 127, 144, 184, 188, 196, 238, 242, 295 Koch brothers 292 Kohl, Helmut x L labour agitating and fighting for more 64 alienated workers 125, 126, 128, 129, 130 artisan 117, 182–3 and automation 105 capital/labour contradiction 65, 66, 68–9, 146 collective 117 commodification of 57 contracts 71, 72 control over 74, 102–11, 119, 166, 171–2, 274, 291–2 deskilling 111, 119 discipline 65, 79 disempowering workers 81, 103, 116, 119, 270 division of see division of labour; domestic 196 education 127–8, 129, 183, 187 exploitation of 54, 57, 62, 68, 75, 83, 107, 108, 126, 128, 129, 150, 156, 166, 175, 176, 182, 185, 195 factory 122, 123, 237 fair market value 63, 64 Gallup survey 271–2 house building 17 housework 114–15, 192 huge increase in the global wage labour force 107–8 importance of workers as buyers of commodities 80–81 ‘industrial reserve army’ 79–80, 173–4 migrations of 118 non-unionised xii; power of 61–4, 71, 73, 74, 79, 81, 88, 99, 108, 118–19, 127, 173, 175, 183, 189, 207, 233, 267 privatisation of 61 in service 117 skills 116, 118–19, 123, 149, 182–3, 185, 231 social see social labour; surplus 151, 152, 173–4, 175, 195, 233 symbolic 123 and trade unions 116 trading in labour services 62–3 unalienated 66, 89 unionised xii; unpaid 189 unskilled 114, 185 women in workforce see under women; worked to exhaustion or death 61, 182 see also employment labour markets 47, 62, 64, 66–9, 71, 102, 114, 116, 118, 166 labour-saving devices 104, 106, 107, 173, 174, 277 labour power commodification of 61, 88 exploitation of 62, 175 generation of surplus value 63 mobility of 99 monetisation of 61 private property character of 64 privatisation of 61 reserves of 108 Lagos, Nigeria, social reproduction in 195 laissez-faire 118, 205, 207, 281 land commodification 260–61 concept of 76–7 division of 59 and enclosure movement 58 establishing as private property 41 exhausting its fertility 61 privatisation 59, 61 scarcity 77 urban 251 ‘land grabs’ 39, 58, 77, 252 land market 18, 59 land price 17 land registry 41 land rents 78, 85 land rights 40, 93 land-use zoning 43 landlords 54, 67, 83, 140, 179, 251, 261 Latin America ’1and grabs’ 58, 77 labour 107 reductions in social inequality 171 two ‘lost decades’ of development 234 lawyers 22, 26, 67, 82, 245 leasing 16, 17, 18 Lebed, Jonathan 195 Lee Kuan-Yew 48 Leeds 149 Lefebvre, Henri 157, 192 Critique of Everyday Life 197–8 left, the defence of jobs and skills under threat 110 and the factory worker 68 incapable of mounting opposition to the power of capital xii; remains of the radical left xii–xiii Lehman Brothers investment bank, fall of (2008) x–xi, 47, 241 ‘leisure’ industries 115 Lenin, Vladimir 135 Leninism 91 Lewis, Michael: The Big Short 20–21 LGBT groups 168, 202, 218 liberation struggle 288, 290 liberty, liberties 44, 48–51, 142, 143, 212, 276, 284, 289 and bourgeois democracy 49 and centralised power 142 and money creation 51 non-coercive individual liberty 42 popular desire for 43 and state finances 48 liberty and freedom 199–215 coercion and violence in pursuit of 201 government surveillance and cracking of encrypted codes 201–2 human rights abuses 202 popular desire for 203 rhetoric on 200–201, 202 life expectancy 250, 258, 259 light, corpuscular theory of 70 living standards xii, 63, 64, 84, 89, 134, 175, 230 loans fictitious capital 32 housing 19 interest on 17 Locke, John 40, 201, 204 logos 31 London smog of 1952 255 unrest in (2011) 243 Los Angeles 150, 292 Louis XIV, King of France 245 Lovelace, Richard 199, 200, 203 Luddites 101 M McCarthyite scourge 56 MacKinnon, Catherine: Are Women Human?


pages: 318 words: 85,824

A Brief History of Neoliberalism by David Harvey

"World Economic Forum" Davos, affirmative action, air traffic controllers' union, Asian financial crisis, Berlin Wall, Bretton Woods, business climate, business cycle, California energy crisis, capital controls, centre right, collective bargaining, creative destruction, crony capitalism, debt deflation, declining real wages, deglobalization, deindustrialization, Deng Xiaoping, Fall of the Berlin Wall, financial deregulation, financial intermediation, financial repression, full employment, gentrification, George Gilder, Gini coefficient, global reserve currency, Great Leap Forward, illegal immigration, income inequality, informal economy, labour market flexibility, land tenure, late capitalism, Long Term Capital Management, low interest rates, low-wage service sector, manufacturing employment, market fundamentalism, mass immigration, means of production, megaproject, Mexican peso crisis / tequila crisis, military-industrial complex, Mont Pelerin Society, mortgage tax deduction, neoliberal agenda, new economy, Pearl River Delta, phenotype, Ponzi scheme, price mechanism, race to the bottom, rent-seeking, reserve currency, Ronald Reagan, Savings and loan crisis, Silicon Valley, special economic zone, structural adjustment programs, Suez crisis 1956, the built environment, The Chicago School, Tragedy of the Commons, transaction costs, union organizing, urban renewal, urban sprawl, Washington Consensus, We are all Keynesians now, Winter of Discontent

Further waves of privatization/conversion of the SOEs occurred in the late 1990s so that, by 2002, SOEs accounted for only 14 per cent of total manufacturing employment relative to the 40 per cent share they had held in 1990. The most recent step has been to open both the TVEs and the SOEs to full foreign ownership.13 Foreign direct investment, for its part, met with very mixed results in the 1980s. It was initially channelled into four special economic zones in southern coastal regions. These zones ‘had the initial objective of producing goods for export to earn foreign exchange. They also acted as social and economic laboratories where foreign technologies and managerial skills could be observed. They offered a range of inducements to foreign investors, including tax holidays, early remittances of profits and better infrastructure facilities.’14 But initial attempts by foreign firms to colonize the internal China market in areas such as automobiles and manufactured goods did not do well.

General Motors, which had lost on its failed venture in the early 1990s, re-entered the market at the end of the decade and by 2003 was reporting far higher profits on its Chinese venture than on its domestic US operations.28 It seemed as if an export-led development strategy had succeeded brilliantly. But none of this had been planned in 1978. Deng had signalled a departure from Mao’s policies of internal self-reliance, but the first openings towards the outside were tentative and confined to special economic zones in Guangdong. It was not until 1987 that the party, noting the success of the Guangdong experiment, accepted that growth should be export-led. And it was only after Deng’s ‘southern tour’ in 1992 that the full force of the central government was put behind the opening to foreign trade and foreign direct investment.29 In 1994, for example, the dual currency exchange rate (official and market) was abolished by a 50 per cent devaluation of the official rate.

D. 183, 184, 206 Rosenblum, N. 212 Rosenthal, E. 218 Ross, A. 219 Rua, F. de la 105 rural areas 159 urban areas different 125, 126–7, 142–7 Russia 96, 105, 122, 139, 156, 182 freedom concept 17, 19, 32 freedom’s prospect 201, 202 neoliberal state 66, 76, 86 see also Soviet Union Sable, C. 212 Sachs, J. 186, 221 Saez, E. 208 Salerno, J. 214 Salim Group 34, 35–6 Salinas, C. 100–1 Saudi Arabia 27, 104, 139 Scandinavia 12–13 see also Sweden Schwab, K. 81 Seabrook, J. 219 Sen, A. 184 Shah of Persia 28 Shanghai 88, 127, 128, 131–3 passim, 136, 147–8 freedom’s prospect 157, 160 Sharapura, S. 214 Sharma, S. 216 Shenzhen 131, 133, 134, 136, 147 Shi, L. 217 ‘shock therapy’ 71 short-term contracts 166, 168 Silver, B. 222 Simon, W. 46, 49 Singapore 2, 169 and China 120, 138 neoliberal state 71, 81, 85–6 uneven development 89, 91, 96, 97, 116 slave trade 159 Slim, C. 17, 34, 35–6, 104 Smadja, C. 81 Smith, A. 20, 185 Smith, B. 221, 222 Smith, N. 27 social justice 41–2 socialism/communism 2, 12–13, 15, 86 consent 41–3 fight against 28 see also Cold War see also central planning; China; Marx; Soviet Union Soederberg, S. 214, 219 SOEs (state-owned enterprises, China) 125–6, 128, 129, 130, 132, 138, 144, 145 solidarity, social 80–1 Sommer, J. 219 Soros, G. 31, 34, 97–8, 186, 221 South Africa 3, 169 freedom’s prospect 185, 199, 203, 206 uneven development 91, 108, 116, 118 South America 120, 139, 140 consent, construction of 39, 40, 46, 54, 63 freedom concept 7–9, 11, 15–16, 28 freedom’s prospect 185, 186, 201, 206 neoliberal state 65, 74, 75, 79 neoliberalism on trial 153, 154, 160, 163, 165, 167, 174–5, 181 uneven development 91, 94–6, 104–6, 109, 115–18 US comparison with 189, 193, 194 see also Argentina; Brazil; Chile South East Asia 2 ASEAN 79 and China 120, 122, 130, 138–41 passim consent, construction of 40, 41, 53 freedom concept 5, 19, 31–2 neoliberal state 71, 76, 81, 85–6 neoliberalism on trial 153, 154, 156, 163, 167–9, 175, 178 uneven development 89, 91, 94, 96–7, 108–9, 116, 117, 118 see also crisis under Asia; Indonesia; Malaysia; Singapore; Thailand South Korea 2, 35, 169 and China 120, 123, 134, 136, 138–40 freedom’s prospect 199, 206 neoliberal state 72, 85 uneven development 89–91 passim, 94, 96, 97, 106–12, 115, 116, 118 ‘sovereignty’ 7 Soviet Union 117, 154 collapse of 3, 32, 87 freedom concept 5, 10, 22, 32 see also Russia Spain 12, 15 special economic zones (China) 130 sport 85, 132, 164 stagflation see under inflation Stanislaw, J. 51, 208, 211 state authoritarianism and market economy combined see China ‘crony capitalism’ 97 monopoly 98 -owned enterprises see SOEs uneven development 112, 115 see also neoliberal state; welfare Stevenson, C. 215 Stiglitz, J. 29, 51, 74, 152 freedom’s prospect 186, 221 uneven development 93, 98, 111, 118, 211, 213, 214 Strauss, L. 92 Stren, R. 212 strikes see unions structural adjustment 163, 188–9 student movements 99, 100 consent, construction of 41, 42, 44 Tiananmen Square 5, 123, 142, 176 Sudan 139, 173 Suez venture (UK) 55–6 Suharto, T.


pages: 403 words: 87,035

The New Geography of Jobs by Enrico Moretti

assortative mating, Bill Gates: Altair 8800, business climate, call centre, classic study, clean tech, cloud computing, corporate raider, creative destruction, desegregation, Edward Glaeser, Fairchild Semiconductor, financial innovation, gentrification, global village, hiring and firing, income inequality, industrial cluster, Jane Jacobs, Jeff Bezos, Joseph Schumpeter, knowledge economy, labor-force participation, low skilled workers, manufacturing employment, Mark Zuckerberg, mass immigration, medical residency, Menlo Park, new economy, peer-to-peer lending, Peter Thiel, Productivity paradox, Recombinant DNA, Richard Florida, Sand Hill Road, Shenzhen special economic zone , Silicon Valley, Skype, Solyndra, special economic zone, Startup school, Steve Jobs, Steve Wozniak, tech worker, thinkpad, Tyler Cowen, Tyler Cowen: Great Stagnation, Wall-E, Y Combinator, zero-sum game

Thirty years ago Shenzhen was an unremarkable small town that no one outside of southern Guangdong Province had even heard of. Its fate—as well as the fate of millions of American manufacturing workers —was sealed in 1979, when the Chinese leadership singled it out to be the first of China’s “Special Economic Zones.” These zones quickly became a magnet for foreign investment. In turn, that flow of investment led to thousands of new factories. These factories are where many American manufacturing jobs have gone. As Detroit and Cleveland have declined, Shenzhen has grown. Massive production facilities of all kinds carpet the region.

., [>] Cadence Design Systems, [>]–[>], [>]–[>] Cambridge, Massachusetts, [>], [>], [>] and biotech industry, [>]–[>], [>] See also Boston-Cambridge area Canada immigration policy of, [>] life expectancy geographically unequal in, [>] PISA scores of, [>] U.S. star scientists from, [>] Canon, [>] Canute (English king), [>] Carbonite, [>] Card, David, [>] Carrell, Scott, [>], [>] Carter, Jimmy, [>] Casio, [>] Cell phone industry, in Silicon Valley, [>] Change, cyclical vs. secular, [>] Chaplin, Charlie, [>], [>] Charity, inequality in, [>]–[>], [>] Chiang, Yet-Ming, [>]–[>], [>] Chicago, [>] as biotech loser, [>] early movie industry in, [>] Empowerment Zone Program for, [>] transportation as key for, [>] Chile, [>], [>] China and convergence, [>] effects of competition with, [>] and gains from trade, [>] imports from computers, [>] quantity of, [>] solar panels, [>], [>] and U.S. prices, [>] middle class increasing in, [>] patents from, [>], [>] productivity flexibility in, [>] regional differences in, [>], [>] rising costs in, [>] Shenzhen in, [>]–[>] “Special Economic Zones” in, [>] U.S. exports to, [>] wages in, [>] See also Hong Kong; Shanghai Chinese Taipei, PISA scores of, [>] Chi-Ping Hsu, [>]–[>] Chronicle Building project, [>]–[>], [>] Cincinnati, [>], [>] Cisco, [>], [>], [>] Cities of United States as environment for innovation, [>] Great Divergence in, [>]–[>], [>]–[>], [>] (see also Great Divergence) Menlo Park vs.

., area, [>] See also Biotech industry Lima, Ohio, and cost of living, [>] Lin, Jeffrey, [>] Lincoln, Nebraska, [>], [>], [>] Local development, [>]–[>] Local global economy, [>]–[>] Local investment subsidies, [>]–[>] Localized economies of scale, [>] Local manufacturing, [>]–[>] Local services, [>]–[>], [>]–[>] and manufacturing, [>] Microsoft’s effect on, [>] and multiplier effect, [>]–[>] Local ventures, venture-capitalist favoring of, [>], [>] Locational freedom, in employment, [>]–[>] absence of, [>]–[>] Lochner, Lance, [>] London, [>], [>] Long Island, [>] Looney, Adam, [>] Los Angeles and aerospace industry, [>], [>] American Apparel clothing in, [>] anchor company in, [>] and biotech industry, [>], [>], [>] digital entertainment jobs in, [>] Empowerment Zone Program in, [>] entertainment concentrated in, [>] motion picture industry in, [>]–[>] pollution levels in, [>] Los Angeles–Long Beach, California, and cost of living, [>] Lubitsch, Ernst, [>] Lucas, George, [>], [>] Lucas, Robert, [>] Lumni (social enterprise), [>]–[>] Lynchburg, Virginia, and cost of living, [>] Macao-China, PISA scores of, [>] Madison, Wisconsin, [>], [>], [>] Mansfield, Ohio, [>] Manufacturing and “big push” strategies, [>]–[>] in China, [>] (see also China) of laptops and notebooks, [>] production flexibility in, [>] rising costs of, [>] of solar panels, [>], [>] and “Special Economic Zones,” [>] innovative sector contrasted with, [>] in overseas countries, [>] in U.S. advanced, [>] of computer semiconductors, [>]–[>] deceptive appearance of comeback in, [>]–[>] decline of, [>]–[>], [>] and fixed vs. variable costs, [>] and globalization, [>]–[>] innovation sector as replacing, [>] by Levi Strauss, [>]–[>] and local service jobs, [>] locational determination of, [>] peak size of, [>] and post-WWII growth, [>]–[>] productivity increase in, [>] traditional vs. local, [>] Manufacturing hipsters, [>]–[>] Market economy, creative destruction in, [>] Market failure and industrial policy, [>] in knowledge spillover, [>]–[>] and productivity through clustering, [>] as public-funds criterion, [>] in under-compensation for education, [>] See also Externalities Markusen, Ann, [>] Marriage and education, [>]–[>] two-career (and thick labor market), [>]–[>] Marriage market, and education, [>] Marx, Karl, [>] Mathematics, poor U.S. achievement in, [>]–[>] Matheson, Kent, [>] Maveron, [>] Mayo Clinic, [>], [>] McAllen, Texas, [>], [>] McAllen-Edinburg-Pharr-Mission, Texas, [>], [>] McCreary, Colleen, [>] McKinsey consulting company, [>] Medicare, [>] Menlo Park, California, [>], [>], [>], [>]–[>] Visalia contrasted with, [>]–[>], [>] Merced, California, [>], [>], [>], [>], [>] Mercedes, [>] Metropolitan areas, [>] Mexico, PISA scores of, [>] Miami, [>], [>], [>] Microsoft, [>], [>], [>], [>]–[>], [>]–[>], [>]–[>] Cambridge lab of, [>] employee compensation at, [>] and nonprofit sector, [>] patents produced by, [>] Middlesex-Somerset-Hunterdon area, New Jersey, [>] Minneapolis, [>], [>], [>], [>] Miranda, Gonzalo, [>] MIT (Massachusetts Institute of Technology), [>], [>]–[>], [>] MITS (firm), [>] Mobile, Alabama, [>], [>], [>] Mobility in U.S., [>], [>], [>], [>]–[>] and cost of living, [>]–[>] inequality of, [>] and education level, [>]–[>], [>] and relocation vouchers, [>]–[>] Modesto, California, [>] Modi, Nimish, [>]–[>], [>] Montgomery, Alabama, [>] Moscow, [>] Motion picture industry, [>]–[>] Mountain View, California, [>] Moving to Opportunity program, [>]–[>] Multiple equilibria, [>] Multiplier effect, [>], [>]–[>] high-tech, [>], [>]–[>], [>] for innovation sector, [>] and land-use policy harm, [>] and Microsoft, [>] in Seattle vs.


pages: 464 words: 127,283

Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia by Anthony M. Townsend

1960s counterculture, 4chan, A Pattern Language, Adam Curtis, air gap, Airbnb, Amazon Web Services, anti-communist, Apple II, Bay Area Rapid Transit, Big Tech, bike sharing, Boeing 747, Burning Man, business process, call centre, carbon footprint, charter city, chief data officer, clean tech, clean water, cloud computing, company town, computer age, congestion charging, congestion pricing, connected car, crack epidemic, crowdsourcing, DARPA: Urban Challenge, data acquisition, Deng Xiaoping, digital divide, digital map, Donald Davies, East Village, Edward Glaeser, Evgeny Morozov, food desert, game design, garden city movement, General Motors Futurama, gentrification, Geoffrey West, Santa Fe Institute, George Gilder, ghettoisation, global supply chain, Grace Hopper, Haight Ashbury, Hedy Lamarr / George Antheil, Herman Kahn, hive mind, Howard Rheingold, interchangeable parts, Internet Archive, Internet of things, Jacquard loom, Jane Jacobs, Jevons paradox, jitney, John Snow's cholera map, Joi Ito, Khan Academy, Kibera, Kickstarter, knowledge worker, Lewis Mumford, load shedding, lolcat, M-Pesa, machine readable, Mark Zuckerberg, megacity, megaproject, messenger bag, mobile money, mutually assured destruction, new economy, New Urbanism, Norbert Wiener, Occupy movement, off grid, One Laptop per Child (OLPC), openstreetmap, packet switching, PalmPilot, Panopticon Jeremy Bentham, Parag Khanna, patent troll, Pearl River Delta, place-making, planetary scale, popular electronics, power law, RFC: Request For Comment, RFID, ride hailing / ride sharing, Robert Gordon, scientific management, self-driving car, sharing economy, Shenzhen special economic zone , Silicon Valley, SimCity, Skype, smart cities, smart grid, smart meter, social graph, social software, social web, SpaceShipOne, special economic zone, Steve Jobs, Steve Wozniak, Stuxnet, supply-chain management, technoutopianism, Ted Kaczynski, telepresence, The Death and Life of Great American Cities, too big to fail, trade route, Twitter Arab Spring, Tyler Cowen, Tyler Cowen: Great Stagnation, undersea cable, Upton Sinclair, uranium enrichment, urban decay, urban planning, urban renewal, Vannevar Bush, working poor, working-age population, X Prize, Y2K, zero day, Zipcar

., 12, 226–30, 255–56, 292 BART system of, 255–57 Summer of Smart in, 227–30 Sante Fe Institute, 312 SantRam, Mohit, 155 Sarasa, Daniel, 217–23 satellite communications, 6 Savage, Sean, 156 Saxenian, AnnaLee, 172 SCADA, 266–68 Scantlebury, Roger, 259–60 Schank, Hana, 202 Schimmel, John, 166 Schmidt, Eric, 180 Schmidt, Terry, 126–27, 132 Schwittay, Anke, 177 science fiction, 6 Scientific American, 231 Scout, 233 SCR-300, 51 Selvadurai, Naveen, 146, 150 Seoul: Digital Media City of, 28, 219 growth and development of, 25–26 Seoul Development Institute, 25 Shalizi, Cosma, 312–14 Shanghai: Expo 2010 in, 47–48, 172 special economic zone in, 24 Sharon, Michael, 147 Shelter Associates, 185–86 Shenzhen, special economic zone in, 24 Shirky, Clay, 232–35, 250 SickCity, 157–58 Siemens, 8, 34, 39–40, 43, 267 first public electric street lamps by, 35 Germany’s first inter-city telegraph by, 38 Infrastructure & Cities division of, 38 plans for smart grid development by, 38–39 SIMATIC software of, 268 test for smart grid technology by, 37 Silicon Valley, 44 Homebrew Computer Club in, 153 People’s Computer Company in, 153, 155 SimCity, 89 simulation, 75 as agent-based, 87 for cities, 78–79, 85–90 Sinclair, Upton, 318 Singapore, 224, 279 ad for smart traffic systems in, 7 Sivak, Bryan, 203 Skilling, David, 224 smart buildings, 22–24, 26–27, 28–29 smart technologies in, 23–24 smart cities, 64, 215, 222–23, 256–58 automation technologies in, 318–19 battles over, 194–99, 294 best investment of, 288–89 “bugs” in, 252–58 competing goals of, 15–16 corporate competition for, 8 creating standards for, 249 dangers of, 72 definition of, 15 democratic participation in, 9, 193 designers of, 303–4 finances in development of, 30–31 future developments of, 29, 72, 299, 311 global network of, 250 grassroots technologies for, 153–58, 167 ineffective duplication of technologies for, 245–48 infrastructure for, 49–50, 194, 262, 265, 269, 299 “killer apps” for, 159, 319 mass urban surveillance in, 272–74, 293 neighborhood dashboards in, 306–7 normal accidents in, 13 “people-centered” approach to, 282–85 projected costs for, 31 promise of greater efficiency in, 31–32 public transit for, 204–5, 235 recommendations for future of, 282–320 sensors of, 68, 72, 306, 316 “set asides” for, 300–301 “slow data” for, 315–20 slow pace of sustainable change for, 279–80 stages of remodeling into, 32 “urban operating system” for, 249 vulnerability of technology in, 259–70 as worsening income gaps, 12–13 smart electricity, 24 potential innovations in, 41–42 Siemen’s plans for, 38 social media potential in, 41 ways to even out peaks in, 39–41 smart meters, 38–40 smartphones, 177–81, 271 demand for interactive urban services on, 200–207 situated software for, 232 software ecosystem for, 234 smart radio, 55 smart technology: “citizen card” as, 221–22 “City Protocol” of, 249 civic labs needed for, 301–2 computerized maps of slums with, 185–89 “convergence” network of, 27 in curbing energy use, 279 for economic development, 184–89 enabling infrastructure with, 27 exclusion of poor from, 173–77, 189–93, 203–4 as fueling urban conflict, 11–12 “g-cloud” as, 170, 289 inefficiency in, 278–79 as means rather than ends, 285–87 need for resilience in, 298–300 as opportunity to rethink government, 10 outsourcing of, 295 as “para-poor” vs.

As John Kasarda and Greg Lindsay explain in their 2011 book Aerotropolis, Songdo was originally conceived as “a weapon for fighting trade wars.” The plan was to entice multinationals to set up Asian operations at Songdo, where they would be able to reach any of East Asia’s boomtowns quickly by air. It was to be a special economic zone, with lower taxes and less regulation, inspired by those created in Shenzhen and Shanghai in the 1980s by premier Deng Xiaoping, which kick-started China’s economic rise.15 But in an odd twist of fate, Songdo now aspires to be a model for China instead. The site itself is deeply symbolic.

., 287–88 Chernobyl, 257 Chicago, Ill., 36, 94, 207–11, 292, 307 Chicago Shovels in, 208 industrialization of, 5 Neighborhood Health Index for, 209–10 Snow Corps of, 208 China: growth of smartphones in, 4 migration into cities in, 47–48 pace of building design in, 112 Pearl River Delta in, 112, 141 special economic zones in, 24 as threat to high-tech industry, 26 “tofu buildings” in, 257 urban development plans of, 2, 30 urban surveillance projects in, 273–74, 276 Chisinau, 168, 171 Chongqing, 273 “Peaceful Chongqing” surveillance in, 273 Cisco Systems, 8, 34, 38, 39, 44, 55, 249, 273, 290 Bangalore Globalisation Centre East of, 45 planners of new data networks by, 44–46 as planners of Songdo’s technology, 24, 26–28 as promoter of smart cities, 31–32 at Shanghai Expo 2010, 48, 172 videoconferencing through, 46–49 vision of future by, 47–49 Cities From the Sky (Campanella), 72 Cities in Evolution (Geddes), 97 CityMart, 246–47 City-search, 121 Civic Commons, 158–59 civic hackers: advantages over big tech companies of, 162–63 alternative visions of, 9 institutionalized techniques of, 239 problems with, 165–66, 224–25 Claris Networks, 288 Clark, David, 109 Clarke, Arthur C., 6 climate change, 112 Clinton, Bill, 248 cloud computing, 263–65, 289, 294 CNN, 116 Coast, Steve, 187 CoDeck, 233–34 Code for America, 237–43, 291 Brigade of, 243 Cold War, 79, 277 Collier’s, 56 Collins, John, 77, 84 Colorado, 197–98 Comer, Andrew, 290–91 Cometa Networks, 130 Community Access, 175 community antennas (CAs), 116 community media, 133, 154 Compass systems, 265 “computational leadership networks,” 242 computer modeling, 77–79, 81, 85 Computing-Tabulating-Recording Company, 62 Congress, U.S., 57–58 Connected Cities (Haselmayer), 245 Constitution, U.S., 57 “control revolution,” 59, 64, 316 Convensia Convention Center, 23–24 Cook, Justin, 83–85, 298 Corbett, Peter, 200 Costa Rica, 176 Council on Foreign Relations, U.S., 63 Coward, Andrew, 274 Cowen, Tyler, 107–9 crowd-sourcing, 121, 151, 155, 166, 192, 203, 214–15, 308–9 traffic apps through, 157, 202 Crowley, Dennis, 121–26, 134, 144–52 Crystal Palace (London), 19–21 Convensia evoked in, 23 Cuartielles, David, 137 Cummings, E.


pages: 302 words: 92,206

Nomad Century: How Climate Migration Will Reshape Our World by Gaia Vince

3D printing, An Inconvenient Truth, Anthropocene, biodiversity loss, bitcoin, Boris Johnson, carbon tax, charter city, circular economy, clean water, colonial exploitation, coronavirus, COVID-19, decarbonisation, degrowth, Donald Trump, Dunbar number, European colonialism, failed state, gentrification, global pandemic, Global Witness, green new deal, Haber-Bosch Process, high-speed rail, housing crisis, ice-free Arctic, illegal immigration, Intergovernmental Panel on Climate Change (IPCC), invention of agriculture, invention of the printing press, job automation, joint-stock company, Kim Stanley Robinson, labour mobility, load shedding, lockdown, low skilled workers, Mahatma Gandhi, Malacca Straits, mass immigration, mass incarceration, mega-rich, megacity, negative emissions, new economy, ocean acidification, old age dependency ratio, open borders, Patri Friedman, Peace of Westphalia, Pearl River Delta, Peter Thiel, place-making, planetary scale, plyscraper, polynesian navigation, quantitative easing, randomized controlled trial, rewilding, Rishi Sunak, sharing economy, Shenzhen special economic zone , Silicon Valley, special economic zone, trade route, transatlantic slave trade, undersea cable, urban planning, urban sprawl, white flight, women in the workforce, working-age population, zero-sum game, Zipcar

Romer’s idea is that the citizens of the charter city would benefit from good governance, safety and wealth; the host nation would receive taxes, plus the benefits of having a well-developed economic hub in their country; and the governing nation would get investment opportunities and comparatively cheap labour and resources. The idea isn’t so far from the concept of a ‘special economic zone’, which rapidly transformed cities including Shenzhen in China and Dubai in the United Arab Emirates. Essentially, these are areas of a nation that operate special business policies and laws with the aim of attracting foreign investment, and increasing trade and employment. Singapore and Hong Kong are similar success stories that became rich on the back of better legal systems, less corruption, stronger rule of law and more competent administration.

Kung peoples; lack of water resources; low levels of migration to; migration from as relatively low; poor infrastructure and city planning; population rise in; rainfall due to Indian irrigation; remittances from urban migrants; and restoring of planet’s habitability; Transaqua Project of water diversion; transatlantic slave trade; transport infrastructure in; urbanization in African Union agoraphobia AI and drone technology aid, development/foreign air-conditioning/cooling airships or blimps Alaska algae Aliens Act (UK, 1905) Alps, European Amazon region Americas Anatolia Anchorage, Alaska Anderson, Benedict animals/wildlife; global dispersal of; impact of fires on; impact of ice loss on see also livestock farming Antarctica; ice sheet Anthropocene era; four horsemen of Aravena, Alejandro Archaeology architecture/buildings: Aravena’s ‘partial houses’; energy-efficiency retrofits; floating infrastructure; heat- and light-responsive materials; low-carbon concrete; prefabricated and modular housing; in successful migrant cities; wooden skyscrapers; zero-carbon new-builds Arctic region; first ice-free summer expected; opening up of due to climate change Argentina Arrhenius, Svante Asia: cities vulnerable to climate change; drought-hit areas; extreme La Niña events; extreme precipitation in monsoon regions; Ganges and Indus river basins; and heat ‘survivability threshold’; huge populations of South Asia; lack of water resources; rivers fed by glaciers; small hydropower installations; urbanization Aswan High Dam asylum-seekers: Australia’s dismal record on; Britain’s proud history on; dominant hostile narratives about; drownings in English Channel; limbo situation due to delayed claim-processing; misinformation about see also refugees Athens Australia: Black Summer (2019–20); energy-supply economy; impact of climate emergency; indigenous inhabitants; low population density in; migration to; and mineral extraction in Greenland; renewable power in; treatment of asylum-seekers; White Australia Policy aviation Aztecs Babylon bacteria, in food production bamboo Bangkok Bangladesh; ‘Bangla’ communities in London; Burmese Rohingya refugees; impact of climate emergency; migration across Indian border; population density in; relocation strategies; training for rural migrants Bantu people Barber, Benjamin Barcelona Beckett, Samuel Belarus Belgium Bergamo, Italy Bhutan Bijlmermeer (outside Amsterdam) biodiversity loss/ecosystem collapse; coral reefs as probably doomed; crash in insect and bird populations; depletion of fish stocks; due to agriculture; due to farming; four horsemen of the Anthropocene; and human behaviour; Key Biodiversity Areas; links with climate change; and marine heatwaves; and overuse of fertilizers; restoring of; species extinction; and urban adaptation strategies see also environmental sustainability bioenergy with carbon capture and storage (BECCS) biotech industry birds black soldier flies black-footed ferrets BoKlok (IKEA spinoff) Bolivia Borneo Bosch, Carl Boston, Massachusetts Boulder, Colorado Brazil Brexit Brin, Sergey British Columbia Brown, Pat bureaucracy Burke, Marshall Burma business/private sector Cairo California; forest fires in Cambodia Cameroon Canaan Canada; and charter cities model; Climate Migrants and Refugee Project; economic benefits from global heating; expansion of agriculture in; first carbon-neutral building in; forest fires in; indigenous populations; infrastructure built on permafrost; regional relocation schemes Capa, Robert, capitalism Caplan, Bryan Caprera (Italian warship) carbon capture/storage; BECCS; ‘biochar’ use in soil; carbon capture and storage (CCS); direct capture from the air; by forests; in grasslands; Key Biodiversity Areas; in oceans; by peatlands; by phytoplankton; vegetation as vital carbon pricing/taxing carbon/carbon dioxide: amount in atmosphere now; Arrhenius’ work on; and biomatter decay in soil, ‘carbon quantitative easing’; continued emitting of; decarbonizing measures; effect on crop growth; emissions cut by building from wood; emissions from farming; emissions from human energy systems; emissions from urban buildings; geoengineering to remove; during last ice age; Miocene Era levels; new materials made from; ocean release of; released by wildfires; tree-planting as offsetting method; in tropical rainforests Carcassonne, France Card, David Cardiff Castro, Fidel Çatalhöyük, ancient city of Central African Republic Central America Chad ‘char people’ charcoal (‘biochar’) Chicago children: childcare costs; deaths of while seeking safety; ‘invisible’/living on the margins; left behind by migrant parents; and move to cities; numbers at extreme risk; in refugee camps; and sense of ‘belonging’ Chile China: adaptation for heavy rainfall events; Belt and Road Initiative; cities vulnerable to climate change; demography; desertification of farmland in north; economic domination of far east; emigrants and knowledge-flow; emissions as still rising in; extreme La Niña events; ‘green wall’ tree-planting projects; and heat ‘survivability threshold’; Hong Kong–Shenzhen–Guangzhou mega-region; hukou system; integrated soil-system management; internal migration in; migrant workers in Russia’s east; and mineral extraction; net zero commitment; small hydropower installations; South-to-North Water Diversion Project; ‘special economic zones’; Uyghur Muslim communities in; and water scarcity; ‘zhuan‘ documents Chinatowns Churchill (town in Manitoba) Churchill, Winston cities: adapting to net-zero carbon economy; city state model; coastal cities; as concentrated nodes of connectivity; ‘consumption cities’ in Africa; control of migration by; deadly urban heat; demand for cooling; devolving power to communities; in eighteenth/nineteenth-century Europe; entrenched assets; and extreme flood risk; flood defences; as focal points for trade networks; food production in; genetic impacts of; in high altitude locations; large megacities; merging into mega-regions; as particularly vulnerable to climate change; phased abandonment of; population densities in; private gardens in; relocation of; relocation strategies within; sprawling shanty towns in; strategies against impact of heat; zero-carbon new-builds see also migrant cities; migration, urban citizenship; patriotism of welcomed migrants; ‘UN/international passport’ idea Clemens, Michael climate change, historic: Cretaceous–Palaeogene meteorite impact event; in late-bronze-age Near East; and migration; in Miocene Era; and transition to farming climate change/emergency; 3–5° C as most likely scenario; as affecting all of Earth; cities as particularly vulnerable to; destruction of dam infrastructure; enlisting of military/security institutions against; every tenth of a degree matters; extreme weather events; global climate niches moving north; global water cycle as speeding up; greenhouse gas emissions as still growing; impact of cities; impact on lives as usually gradual; inertia of the Earth’s climate system; lethality by 2100; links with biodiversity loss; near-universal acceptance of as human made; net zero pledges; Paris Agreement (2015); path to 3–4° C-hotter world; situation as not hopeless; slow global response to; as threat multiplier; warming as mostly absorbed by oceans see also biodiversity loss/ecosystem collapse; drought; fires; floods; heat climate models: future emissions scenarios; heating predictions; impact of 4° C-hotter world; IPCC ‘Representative Concentration Pathways’ (RCPs); optimum climate for human productivity; threshold for mass migrations coastal areas: coastal cities; migration from; retreating coastlines; seawater desalination plants cochineal scale insect Colombia colonialism, European Colorado Columbia Concretene construction industry copper coral reefs Cornwall Costa Rica cotton Covid-19 pandemic; cooperation during cross-laminated timber (CLT) Crusaders Cruz, Abel Cuba cultural institutions/practices: cultural losses over time; diversity as improving innovation; migration of; in well-planned migrant cities cyclones Cyprus Czech workers in Germany Dar es Salaam Death Valley Delhi Democratic Republic of Congo demographic changes/information: and decline of nationality viewed in racial terms; depopulation crisis; elderly populations in global north; GenZ; global climate niches moving north; global population patterns; global population rise; ‘household formation’; huge variation in global fertility rates; migrants as percentage of global population; population fall due to urban migration; population-peak projection; post-war baby boom; and transition to farming Denmark Denver, Colorado desert conditions Dhaka Dharavi (slum in Mumbai) diet and nutrition: edible seeds of sea grasses; genetically engineered microbes; global disparities in access to nutrition; and Haber–Bosch process; insects as source of protein and fats; loss of nutrition due to heat stress of crops; move to plant-based diet; vitamin D sources; zinc and protein deficiencies dinosaurs direct air capture (DAC) disease; waterborne Doha Domesday Book (1086) Driscolls (Californian berry grower) drone technology drought; as affecting the most people; in Amazon region; impact on farming; in late-bronze-age Near East; and rivers fed by glaciers; and sulphate cooling Dubai Duluth, Minnesota Dunbar, Robin economies; Chinese domination of far east; economic growth; forced move towards a circular economy; GDP per capita measure; Global Compact for Migration; global productivity losses due to heat; immigrant-founded companies; and influx of low-skilled migrant workers; migration as benefitting; mining opportunities exposed by ice retreat; and nation state model; need to open world’s borders; new mineral deposits in northern latitudes; northern nations benefitting from global heating; ‘special economic zone’ concept; taxing of robots see also employment/labour markets; green economy; political and socioeconomic systems; trade and commerce education: availability to migrants; as key to growth; and remittances from urban migrants; systems improved by migration Egypt; Ancient electricity: current clean generation as not sufficient; decarbonizing of production; electric vehicles; grid systems; hydroelectric plants; and net zero world; renewable production Elwartowski, Chad employment/labour markets: amnesties of ‘illegal’ migrants; and arguments against migration; and automation; controlled by city authorities; and global labour mobility; and the green economy; impact of heat on jobs; indentured positions; and influx of low-skilled migrant workers; jobs in growth industries; jobs restoring diversity; jobs that natives don’t want to do; mechanization/automation slowed down by migrant workers; migrants bring greater diversity to; need for Nansen-style scheme; occupational upgrading of locals due to immigration; refugees barred from working; role of business in migrant integration; rural workers moving to cities; skilled migrants; support/access for migrants; Trump’s work visa restrictions; ‘urban visas’ in USA; workforce shortages in global north energy systems: access to in global south; air-conditioning/cooling demand; and carbon capture; ‘closed-loop’ radiator construction; decarbonizing of; and economic growth; geothermal production; global energy use as increasing; new dam-construction boom in south; nuclear power; oceans as source; poor grid infrastructure in global south; power outages; power sharing as not equitable; reducing growth in demand; replacement of inefficient heating/cooling systems; transmission/transport see also electricity English Channel Environmental Protection Agency, US environmental sustainability: decarbonizing measures; decoupling of GDP from carbon emissions; and economic growth; heat- and light-responsive materials; low-energy plastic recycling methods; and migrant cities; need for open mind in planning for; phytoplankton as hugely important; replacement of inefficient heating/cooling systems; zero-carbon new-builds see also biodiversity loss/ecosystem collapse environmentalists; negative growth advocates; opponents of geoengineering equatorial belt Erdoğan, Recep Tayyip Eritrea Estonia Ethiopia Europe: 2003 heatwave; depopulation crisis; eighteenth/nineteenth-century shanty towns; impact of climate emergency; medieval barriers to movement; Mediterranean climate moving north; migrant indentured labour in; migration of women working in domestic service; small hydropower installations; three mass migrations in Stone and Bronze Ages European Union: free movement within; fund for aid to Africa; Green New Deal; no ‘asylum crisis’ within; nuclear power in; open-border policy for refugees from Ukraine; as popular migrant destination; seeks quota system for refugees; as successful example of regional union; war against migrants Fairbourne (Welsh village) farming: in abandoned areas in south; in Africa; ancient transition to; bad harvests as more frequent; barns/storehouses; benefits of warming in Nordic nations; biodiversity loss due to; cereal crops; closing the yield gap; early nineteenth century expansion of; ever-decreasing, sub-divided plots of land; expanded growing seasons; fertile land exposed by ice retreat; genetic research to produce new crops; genetically modified crop varieties; global disparities in food production; Green Revolution; greenhouse gas emissions from; in Greenland; Haber–Bosch process; heat-tolerant and drought-resistant crops; high-yielding wheat and rice variants; impact of climate emergency; indoor industrial systems; modern improvement in yields; nutrient and drip-irrigation systems; pre-twentieth-century methods; relying on new forms of; Russian dominance; salt-tolerant rice; smallholder; and solar geoengineering; solar-powered closed-cycle; urban vertical farms; use of silicates; and water scarcity; wildflower strips in fields see also livestock farming Fiji Fires fish populations: artisanal fishers; boost of in Arctic region; and decommissioned offshore oilrigs; fish farming; future pricing of fish products; as under huge pressure; insects as farmed-fish feed; land-based fish-farming Five Points slum, New York floods; flash floods; low-lying islands and atolls; sea walls/coastal defences; three main causes; in urban areas; water-management infrastructure Florida food: algal mats; carbon-pricing of meat; impact of soaring global prices; insect farming; kelp forest plantations; lab-grown meats; meat substitutes; for migrant city dwellers; move to plant-based diet; need for bigger sources of in global north; need to cut waste; photosynthesizing marine plants and algae; plant-based dairy products; reduced supplies due to temperature rises; refrigerated storage; replication of Maillard chemical reaction; sourced from the oceans see also diet and nutrition; farming; livestock farming food security Ford, Henry forests: advance north of in Nordic nations; deforestation; impact of climate emergency; ‘negative emissions activity’; replanting of; Siberian taiga forest fossil fuels; carbon capture and storage (CCS); as embedded in human systems France Fraser, Sean freedom of movement French Polynesia Friedman, Patri Gargano, Gabriele gas industry Gates, Bill gender: heat related inequalities; physical/sexual danger for female migrants; women in domestic service in Europe; women rejoining workforce genetic modification genetics, population Genghis Khan geoengineering; artificial sill proposals; cloud-brightening idea; as controversial/taboo; and ideal temperature question; possible unwanted effects; proposals for dealing with ice melt; to reduce atmospheric carbon dioxide; solar radiation reduction tools; sulphate cooling concept; thin-film technology; tools to reflect the sun’s heat away from Earth geology GERD dam, Ethiopia Germany; Syrian refugee resettlement in Ghana Glasgow climate meeting (2021) Global Parliament of Mayors global south; benefit of solar cooling idea; capital costs of deploying new renewables; cutting of food waste in; future repopulation of abandoned regions; global income gap as rising; little suitable landmass for climate-driven migration; migration to higher elevations with water; need for improved infrastructure; need for sustainable economic growth; new dam-construction boom in; new domestic sources of energy; population rise in; remittances from urban migrants; resource extraction by rich countries; and vested interests in the rich world see also Africa; Asia; Latin America and entries for individual nations golf courses Gore, Al, An Inconvenient Truth (2006) Gothenburg Grand Inga hydroelectric dam project (Congo River) Granville, Earl grasslands Great Barrier Reef Great Lakes region, North America Greece; Ancient green economy; and building of fair societies; Green New Deals; migration as vital to; multiple benefits of see also environmental sustainability; renewable power production; restoring our planet’s habitability greenhouse gas emissions; charging land owners for; in cities; emitters trying to avoid/delay decarbonization; from farming; national emissions-reductions pledges; underreporting of; unfair global impact of see also carbon/carbon dioxide Greenland; ice sheet; potato farming in Gulf states Haber, Fritz Hangzhou Hawaii health: climate change as threat multiplier; dementia care; diseases of poor sanitation; healthcare in successful migrant cities; heat related inequalities; lethality of extreme heat; and life in cities; mental illness and migration; migration as benefitting social care systems; pathogens in frozen tundras; rural living as single largest killer today; and smoke pollution heat: 35°C wet bulb threshold crossed; climate model predictions; cloud and water vapour feedbacks; combined with humidity; and demand for cooling; extreme hotspots; global productivity/work hour losses; impact of 4° C-hotter world; impact on farming/food supplies; infrastructure problems due to; lethality by 2100; lethality of extreme temperatures; Paris pledge of below 2°C; solar radiation reduction tools; subtropical climate spreading into higher latitudes; temperatures above 50°C; threshold for mass migrations; ‘threshold of survivability’; urban adaptation strategies; urban heat island effect; ‘wet bulb’ temperature calculations Held, David Hernando, Antonia HIV Höfn, southeastern Iceland Holocene epoch Honduras Hong Kong horses, domestication of housing: Aravena’s ‘partial houses’; controlled by city authorities; equitable access to; floating infrastructure; in flood-affected areas; and heat related inequalities; and migrants; planning and zoning laws; policies to prevent segregation; prefabricated and modular; twentieth-century social programmes see also slum dwellers Hudson Bay Huguenot immigrants human rights, universal Hungary hunter-gatherers hurricanes hydrogen ice age, last ice loss; as accelerating at record rate; in Antarctica; in Arctic region; artificial reflective snow idea; artificial sill proposals; and flash floods; loss of glaciers; permafrost thaw; reflective fleece blankets idea; retreat of ice sheets; rising of land due to glaciers melting; tipping points for ice-free world Iceland ICON, construction company identity: accentuation of small differences; and ancient transition to farming; borders as ‘othering’ structures; language as tool of self-construction; mistrust of outsiders; pan-species; sense of ‘belonging’; social norms of ‘tribe’; social psychology; stories crafting group identity see also national identity immigration policies: bilateral or regional arrangements; deliberately prejudicial policy; development of since later nineteenth-century; and harnessing migrant potential; immigrant inclusion programmes; immigration lottery schemes; move needed from control to managing,; points-based entrance systems; poorly designed; quota systems; responses to terrorist incidents; restrictions as for people not stuff; restrictive border legislation; Spain’s successful policy Impossible Foods India; crop irrigation in; emigrants and knowledge-flow; emissions as still rising in; falling fertility rate in; Ganges Valley; and heat ‘survivability threshold’; impact of climate emergency; internal migration in; lime-washing of roofs in; Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA); National River Linking Project; population density in; young population in indigenous communities Indo-European language Indonesia industrial revolution inequality and poverty: and access to reliable energy; benefit of solar cooling to south; climate change as threat multiplier; climate migration and social justice; and demand for cooling; despair and anger of ‘left behind’ natives; and environmental destruction; and European colonialism; as failure of social/economic policy; and geoengineered cooling; global disparities in access to nutrition; and global food prices; global income gap as rising; heat related; and impact of flooding; increased by ancient transition to farming; as matter of geographical chance; migration as best route out of; and modern farming; and national pride; need for redistributive policies; the poor trapped in vulnerable cities; and post-war institutions; rural living as single largest killer today; slow global response to crisis of; superrich and private jets; tribalism as not inevitable; and vested interests in the rich world insects; collapsing populations; farming of; as human food source insulation insurance, availability of Intergovernmental Panel on Climate Change (IPCC) International Energy Agency (IEA) International Fund for Agricultural Development (IFAD) International Labour Organization Iquique (Chile) Ireland iron, powdered Islam islands, small/low-lying Israel Italy Ithaca, city of (New York) Jakarta Japan Jobs, Steve Johnson, Boris Jordan kelp Kenya Khan, Sadiq Khoisan Bushmen Kimmel, Mara King, Sir David Kiribati knowledge and skills: better environment for in rich countries; ‘brain drain’ issue; channelled through migrant networks; diversity as improving innovation; global knowledge transfer; Global Skill Partnerships model; impact of European colonialism; migrants returning to origin countries; and Nansen-style schemes; need for rapid transference of; and points-based entrance systems Kodiak Island, Alaska krill Kuba Kingdom, West Africa !

Kung peoples; lack of water resources; low levels of migration to; migration from as relatively low; poor infrastructure and city planning; population rise in; rainfall due to Indian irrigation; remittances from urban migrants; and restoring of planet’s habitability; Transaqua Project of water diversion; transatlantic slave trade; transport infrastructure in; urbanization in African Union agoraphobia AI and drone technology aid, development/foreign air-conditioning/cooling airships or blimps Alaska algae Aliens Act (UK, 1905) Alps, European Amazon region Americas Anatolia Anchorage, Alaska Anderson, Benedict animals/wildlife; global dispersal of; impact of fires on; impact of ice loss on see also livestock farming Antarctica; ice sheet Anthropocene era; four horsemen of Aravena, Alejandro Archaeology architecture/buildings: Aravena’s ‘partial houses’; energy-efficiency retrofits; floating infrastructure; heat- and light-responsive materials; low-carbon concrete; prefabricated and modular housing; in successful migrant cities; wooden skyscrapers; zero-carbon new-builds Arctic region; first ice-free summer expected; opening up of due to climate change Argentina Arrhenius, Svante Asia: cities vulnerable to climate change; drought-hit areas; extreme La Niña events; extreme precipitation in monsoon regions; Ganges and Indus river basins; and heat ‘survivability threshold’; huge populations of South Asia; lack of water resources; rivers fed by glaciers; small hydropower installations; urbanization Aswan High Dam asylum-seekers: Australia’s dismal record on; Britain’s proud history on; dominant hostile narratives about; drownings in English Channel; limbo situation due to delayed claim-processing; misinformation about see also refugees Athens Australia: Black Summer (2019–20); energy-supply economy; impact of climate emergency; indigenous inhabitants; low population density in; migration to; and mineral extraction in Greenland; renewable power in; treatment of asylum-seekers; White Australia Policy aviation Aztecs Babylon bacteria, in food production bamboo Bangkok Bangladesh; ‘Bangla’ communities in London; Burmese Rohingya refugees; impact of climate emergency; migration across Indian border; population density in; relocation strategies; training for rural migrants Bantu people Barber, Benjamin Barcelona Beckett, Samuel Belarus Belgium Bergamo, Italy Bhutan Bijlmermeer (outside Amsterdam) biodiversity loss/ecosystem collapse; coral reefs as probably doomed; crash in insect and bird populations; depletion of fish stocks; due to agriculture; due to farming; four horsemen of the Anthropocene; and human behaviour; Key Biodiversity Areas; links with climate change; and marine heatwaves; and overuse of fertilizers; restoring of; species extinction; and urban adaptation strategies see also environmental sustainability bioenergy with carbon capture and storage (BECCS) biotech industry birds black soldier flies black-footed ferrets BoKlok (IKEA spinoff) Bolivia Borneo Bosch, Carl Boston, Massachusetts Boulder, Colorado Brazil Brexit Brin, Sergey British Columbia Brown, Pat bureaucracy Burke, Marshall Burma business/private sector Cairo California; forest fires in Cambodia Cameroon Canaan Canada; and charter cities model; Climate Migrants and Refugee Project; economic benefits from global heating; expansion of agriculture in; first carbon-neutral building in; forest fires in; indigenous populations; infrastructure built on permafrost; regional relocation schemes Capa, Robert, capitalism Caplan, Bryan Caprera (Italian warship) carbon capture/storage; BECCS; ‘biochar’ use in soil; carbon capture and storage (CCS); direct capture from the air; by forests; in grasslands; Key Biodiversity Areas; in oceans; by peatlands; by phytoplankton; vegetation as vital carbon pricing/taxing carbon/carbon dioxide: amount in atmosphere now; Arrhenius’ work on; and biomatter decay in soil, ‘carbon quantitative easing’; continued emitting of; decarbonizing measures; effect on crop growth; emissions cut by building from wood; emissions from farming; emissions from human energy systems; emissions from urban buildings; geoengineering to remove; during last ice age; Miocene Era levels; new materials made from; ocean release of; released by wildfires; tree-planting as offsetting method; in tropical rainforests Carcassonne, France Card, David Cardiff Castro, Fidel Çatalhöyük, ancient city of Central African Republic Central America Chad ‘char people’ charcoal (‘biochar’) Chicago children: childcare costs; deaths of while seeking safety; ‘invisible’/living on the margins; left behind by migrant parents; and move to cities; numbers at extreme risk; in refugee camps; and sense of ‘belonging’ Chile China: adaptation for heavy rainfall events; Belt and Road Initiative; cities vulnerable to climate change; demography; desertification of farmland in north; economic domination of far east; emigrants and knowledge-flow; emissions as still rising in; extreme La Niña events; ‘green wall’ tree-planting projects; and heat ‘survivability threshold’; Hong Kong–Shenzhen–Guangzhou mega-region; hukou system; integrated soil-system management; internal migration in; migrant workers in Russia’s east; and mineral extraction; net zero commitment; small hydropower installations; South-to-North Water Diversion Project; ‘special economic zones’; Uyghur Muslim communities in; and water scarcity; ‘zhuan‘ documents Chinatowns Churchill (town in Manitoba) Churchill, Winston cities: adapting to net-zero carbon economy; city state model; coastal cities; as concentrated nodes of connectivity; ‘consumption cities’ in Africa; control of migration by; deadly urban heat; demand for cooling; devolving power to communities; in eighteenth/nineteenth-century Europe; entrenched assets; and extreme flood risk; flood defences; as focal points for trade networks; food production in; genetic impacts of; in high altitude locations; large megacities; merging into mega-regions; as particularly vulnerable to climate change; phased abandonment of; population densities in; private gardens in; relocation of; relocation strategies within; sprawling shanty towns in; strategies against impact of heat; zero-carbon new-builds see also migrant cities; migration, urban citizenship; patriotism of welcomed migrants; ‘UN/international passport’ idea Clemens, Michael climate change, historic: Cretaceous–Palaeogene meteorite impact event; in late-bronze-age Near East; and migration; in Miocene Era; and transition to farming climate change/emergency; 3–5° C as most likely scenario; as affecting all of Earth; cities as particularly vulnerable to; destruction of dam infrastructure; enlisting of military/security institutions against; every tenth of a degree matters; extreme weather events; global climate niches moving north; global water cycle as speeding up; greenhouse gas emissions as still growing; impact of cities; impact on lives as usually gradual; inertia of the Earth’s climate system; lethality by 2100; links with biodiversity loss; near-universal acceptance of as human made; net zero pledges; Paris Agreement (2015); path to 3–4° C-hotter world; situation as not hopeless; slow global response to; as threat multiplier; warming as mostly absorbed by oceans see also biodiversity loss/ecosystem collapse; drought; fires; floods; heat climate models: future emissions scenarios; heating predictions; impact of 4° C-hotter world; IPCC ‘Representative Concentration Pathways’ (RCPs); optimum climate for human productivity; threshold for mass migrations coastal areas: coastal cities; migration from; retreating coastlines; seawater desalination plants cochineal scale insect Colombia colonialism, European Colorado Columbia Concretene construction industry copper coral reefs Cornwall Costa Rica cotton Covid-19 pandemic; cooperation during cross-laminated timber (CLT) Crusaders Cruz, Abel Cuba cultural institutions/practices: cultural losses over time; diversity as improving innovation; migration of; in well-planned migrant cities cyclones Cyprus Czech workers in Germany Dar es Salaam Death Valley Delhi Democratic Republic of Congo demographic changes/information: and decline of nationality viewed in racial terms; depopulation crisis; elderly populations in global north; GenZ; global climate niches moving north; global population patterns; global population rise; ‘household formation’; huge variation in global fertility rates; migrants as percentage of global population; population fall due to urban migration; population-peak projection; post-war baby boom; and transition to farming Denmark Denver, Colorado desert conditions Dhaka Dharavi (slum in Mumbai) diet and nutrition: edible seeds of sea grasses; genetically engineered microbes; global disparities in access to nutrition; and Haber–Bosch process; insects as source of protein and fats; loss of nutrition due to heat stress of crops; move to plant-based diet; vitamin D sources; zinc and protein deficiencies dinosaurs direct air capture (DAC) disease; waterborne Doha Domesday Book (1086) Driscolls (Californian berry grower) drone technology drought; as affecting the most people; in Amazon region; impact on farming; in late-bronze-age Near East; and rivers fed by glaciers; and sulphate cooling Dubai Duluth, Minnesota Dunbar, Robin economies; Chinese domination of far east; economic growth; forced move towards a circular economy; GDP per capita measure; Global Compact for Migration; global productivity losses due to heat; immigrant-founded companies; and influx of low-skilled migrant workers; migration as benefitting; mining opportunities exposed by ice retreat; and nation state model; need to open world’s borders; new mineral deposits in northern latitudes; northern nations benefitting from global heating; ‘special economic zone’ concept; taxing of robots see also employment/labour markets; green economy; political and socioeconomic systems; trade and commerce education: availability to migrants; as key to growth; and remittances from urban migrants; systems improved by migration Egypt; Ancient electricity: current clean generation as not sufficient; decarbonizing of production; electric vehicles; grid systems; hydroelectric plants; and net zero world; renewable production Elwartowski, Chad employment/labour markets: amnesties of ‘illegal’ migrants; and arguments against migration; and automation; controlled by city authorities; and global labour mobility; and the green economy; impact of heat on jobs; indentured positions; and influx of low-skilled migrant workers; jobs in growth industries; jobs restoring diversity; jobs that natives don’t want to do; mechanization/automation slowed down by migrant workers; migrants bring greater diversity to; need for Nansen-style scheme; occupational upgrading of locals due to immigration; refugees barred from working; role of business in migrant integration; rural workers moving to cities; skilled migrants; support/access for migrants; Trump’s work visa restrictions; ‘urban visas’ in USA; workforce shortages in global north energy systems: access to in global south; air-conditioning/cooling demand; and carbon capture; ‘closed-loop’ radiator construction; decarbonizing of; and economic growth; geothermal production; global energy use as increasing; new dam-construction boom in south; nuclear power; oceans as source; poor grid infrastructure in global south; power outages; power sharing as not equitable; reducing growth in demand; replacement of inefficient heating/cooling systems; transmission/transport see also electricity English Channel Environmental Protection Agency, US environmental sustainability: decarbonizing measures; decoupling of GDP from carbon emissions; and economic growth; heat- and light-responsive materials; low-energy plastic recycling methods; and migrant cities; need for open mind in planning for; phytoplankton as hugely important; replacement of inefficient heating/cooling systems; zero-carbon new-builds see also biodiversity loss/ecosystem collapse environmentalists; negative growth advocates; opponents of geoengineering equatorial belt Erdoğan, Recep Tayyip Eritrea Estonia Ethiopia Europe: 2003 heatwave; depopulation crisis; eighteenth/nineteenth-century shanty towns; impact of climate emergency; medieval barriers to movement; Mediterranean climate moving north; migrant indentured labour in; migration of women working in domestic service; small hydropower installations; three mass migrations in Stone and Bronze Ages European Union: free movement within; fund for aid to Africa; Green New Deal; no ‘asylum crisis’ within; nuclear power in; open-border policy for refugees from Ukraine; as popular migrant destination; seeks quota system for refugees; as successful example of regional union; war against migrants Fairbourne (Welsh village) farming: in abandoned areas in south; in Africa; ancient transition to; bad harvests as more frequent; barns/storehouses; benefits of warming in Nordic nations; biodiversity loss due to; cereal crops; closing the yield gap; early nineteenth century expansion of; ever-decreasing, sub-divided plots of land; expanded growing seasons; fertile land exposed by ice retreat; genetic research to produce new crops; genetically modified crop varieties; global disparities in food production; Green Revolution; greenhouse gas emissions from; in Greenland; Haber–Bosch process; heat-tolerant and drought-resistant crops; high-yielding wheat and rice variants; impact of climate emergency; indoor industrial systems; modern improvement in yields; nutrient and drip-irrigation systems; pre-twentieth-century methods; relying on new forms of; Russian dominance; salt-tolerant rice; smallholder; and solar geoengineering; solar-powered closed-cycle; urban vertical farms; use of silicates; and water scarcity; wildflower strips in fields see also livestock farming Fiji Fires fish populations: artisanal fishers; boost of in Arctic region; and decommissioned offshore oilrigs; fish farming; future pricing of fish products; as under huge pressure; insects as farmed-fish feed; land-based fish-farming Five Points slum, New York floods; flash floods; low-lying islands and atolls; sea walls/coastal defences; three main causes; in urban areas; water-management infrastructure Florida food: algal mats; carbon-pricing of meat; impact of soaring global prices; insect farming; kelp forest plantations; lab-grown meats; meat substitutes; for migrant city dwellers; move to plant-based diet; need for bigger sources of in global north; need to cut waste; photosynthesizing marine plants and algae; plant-based dairy products; reduced supplies due to temperature rises; refrigerated storage; replication of Maillard chemical reaction; sourced from the oceans see also diet and nutrition; farming; livestock farming food security Ford, Henry forests: advance north of in Nordic nations; deforestation; impact of climate emergency; ‘negative emissions activity’; replanting of; Siberian taiga forest fossil fuels; carbon capture and storage (CCS); as embedded in human systems France Fraser, Sean freedom of movement French Polynesia Friedman, Patri Gargano, Gabriele gas industry Gates, Bill gender: heat related inequalities; physical/sexual danger for female migrants; women in domestic service in Europe; women rejoining workforce genetic modification genetics, population Genghis Khan geoengineering; artificial sill proposals; cloud-brightening idea; as controversial/taboo; and ideal temperature question; possible unwanted effects; proposals for dealing with ice melt; to reduce atmospheric carbon dioxide; solar radiation reduction tools; sulphate cooling concept; thin-film technology; tools to reflect the sun’s heat away from Earth geology GERD dam, Ethiopia Germany; Syrian refugee resettlement in Ghana Glasgow climate meeting (2021) Global Parliament of Mayors global south; benefit of solar cooling idea; capital costs of deploying new renewables; cutting of food waste in; future repopulation of abandoned regions; global income gap as rising; little suitable landmass for climate-driven migration; migration to higher elevations with water; need for improved infrastructure; need for sustainable economic growth; new dam-construction boom in; new domestic sources of energy; population rise in; remittances from urban migrants; resource extraction by rich countries; and vested interests in the rich world see also Africa; Asia; Latin America and entries for individual nations golf courses Gore, Al, An Inconvenient Truth (2006) Gothenburg Grand Inga hydroelectric dam project (Congo River) Granville, Earl grasslands Great Barrier Reef Great Lakes region, North America Greece; Ancient green economy; and building of fair societies; Green New Deals; migration as vital to; multiple benefits of see also environmental sustainability; renewable power production; restoring our planet’s habitability greenhouse gas emissions; charging land owners for; in cities; emitters trying to avoid/delay decarbonization; from farming; national emissions-reductions pledges; underreporting of; unfair global impact of see also carbon/carbon dioxide Greenland; ice sheet; potato farming in Gulf states Haber, Fritz Hangzhou Hawaii health: climate change as threat multiplier; dementia care; diseases of poor sanitation; healthcare in successful migrant cities; heat related inequalities; lethality of extreme heat; and life in cities; mental illness and migration; migration as benefitting social care systems; pathogens in frozen tundras; rural living as single largest killer today; and smoke pollution heat: 35°C wet bulb threshold crossed; climate model predictions; cloud and water vapour feedbacks; combined with humidity; and demand for cooling; extreme hotspots; global productivity/work hour losses; impact of 4° C-hotter world; impact on farming/food supplies; infrastructure problems due to; lethality by 2100; lethality of extreme temperatures; Paris pledge of below 2°C; solar radiation reduction tools; subtropical climate spreading into higher latitudes; temperatures above 50°C; threshold for mass migrations; ‘threshold of survivability’; urban adaptation strategies; urban heat island effect; ‘wet bulb’ temperature calculations Held, David Hernando, Antonia HIV Höfn, southeastern Iceland Holocene epoch Honduras Hong Kong horses, domestication of housing: Aravena’s ‘partial houses’; controlled by city authorities; equitable access to; floating infrastructure; in flood-affected areas; and heat related inequalities; and migrants; planning and zoning laws; policies to prevent segregation; prefabricated and modular; twentieth-century social programmes see also slum dwellers Hudson Bay Huguenot immigrants human rights, universal Hungary hunter-gatherers hurricanes hydrogen ice age, last ice loss; as accelerating at record rate; in Antarctica; in Arctic region; artificial reflective snow idea; artificial sill proposals; and flash floods; loss of glaciers; permafrost thaw; reflective fleece blankets idea; retreat of ice sheets; rising of land due to glaciers melting; tipping points for ice-free world Iceland ICON, construction company identity: accentuation of small differences; and ancient transition to farming; borders as ‘othering’ structures; language as tool of self-construction; mistrust of outsiders; pan-species; sense of ‘belonging’; social norms of ‘tribe’; social psychology; stories crafting group identity see also national identity immigration policies: bilateral or regional arrangements; deliberately prejudicial policy; development of since later nineteenth-century; and harnessing migrant potential; immigrant inclusion programmes; immigration lottery schemes; move needed from control to managing,; points-based entrance systems; poorly designed; quota systems; responses to terrorist incidents; restrictions as for people not stuff; restrictive border legislation; Spain’s successful policy Impossible Foods India; crop irrigation in; emigrants and knowledge-flow; emissions as still rising in; falling fertility rate in; Ganges Valley; and heat ‘survivability threshold’; impact of climate emergency; internal migration in; lime-washing of roofs in; Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA); National River Linking Project; population density in; young population in indigenous communities Indo-European language Indonesia industrial revolution inequality and poverty: and access to reliable energy; benefit of solar cooling to south; climate change as threat multiplier; climate migration and social justice; and demand for cooling; despair and anger of ‘left behind’ natives; and environmental destruction; and European colonialism; as failure of social/economic policy; and geoengineered cooling; global disparities in access to nutrition; and global food prices; global income gap as rising; heat related; and impact of flooding; increased by ancient transition to farming; as matter of geographical chance; migration as best route out of; and modern farming; and national pride; need for redistributive policies; the poor trapped in vulnerable cities; and post-war institutions; rural living as single largest killer today; slow global response to crisis of; superrich and private jets; tribalism as not inevitable; and vested interests in the rich world insects; collapsing populations; farming of; as human food source insulation insurance, availability of Intergovernmental Panel on Climate Change (IPCC) International Energy Agency (IEA) International Fund for Agricultural Development (IFAD) International Labour Organization Iquique (Chile) Ireland iron, powdered Islam islands, small/low-lying Israel Italy Ithaca, city of (New York) Jakarta Japan Jobs, Steve Johnson, Boris Jordan kelp Kenya Khan, Sadiq Khoisan Bushmen Kimmel, Mara King, Sir David Kiribati knowledge and skills: better environment for in rich countries; ‘brain drain’ issue; channelled through migrant networks; diversity as improving innovation; global knowledge transfer; Global Skill Partnerships model; impact of European colonialism; migrants returning to origin countries; and Nansen-style schemes; need for rapid transference of; and points-based entrance systems Kodiak Island, Alaska krill Kuba Kingdom, West Africa !


pages: 193 words: 47,808

The Flat White Economy by Douglas McWilliams

access to a mobile phone, banking crisis, Big bang: deregulation of the City of London, bonus culture, Boris Johnson, Chuck Templeton: OpenTable:, clean tech, cloud computing, computer age, correlation coefficient, Crossrail, Edward Glaeser, en.wikipedia.org, Erik Brynjolfsson, eurozone crisis, George Gilder, hiring and firing, income inequality, informal economy, Kickstarter, knowledge economy, loadsamoney, low skilled workers, mass immigration, Metcalfe’s law, military-industrial complex, Network effects, new economy, offshore financial centre, Pareto efficiency, Peter Thiel, Productivity paradox, Robert Metcalfe, Robert Solow, Shenzhen special economic zone , Silicon Valley, smart cities, special economic zone, Steve Jobs, vertical integration, working-age population, zero-sum game

Alibaba, which controls a near monopoly at 80% of China’s online shopping market, had an estimated market capitalisation value of $215 billion. In that sense it is the fourth biggest tech firm in the world, behind only Apple, Google and Microsoft – such is the scale of the Chinese consumer base. Yet whilst firms such as Alibaba and Huawei were founded in special economic zones such as Hangzhou and Shenzhen, Z-innoway subsumes a startup culture on a smaller scale that is more reminiscent of Silicon Roundabout in London and Silicon Valley. A key characteristic of the district is ‘startup cafes’ such as Garage Café and 3W Coffee, which host startups meetings and ‘accelerator’ programs in a setting not unlike the coffee shops in downtown Palo Alto.

article=1021&context=confpapers INDEX Accenture Fintech Innovation Lab ref1 accommodation ref1, ref2, ref3 cheap ref1, ref2, ref3 cramped ref1 displacement of ref1 proximity to amenities ref1 Advanced Card Systems ref1 advertising/marketing ref1, ref2 campaigns ref1 digital ref1 investment in ref1 online ref1, ref2, ref3, ref4 role of creativity in ref1 Aerob ref1 AirWatch ref1 Alibaba ref1, ref2 floated on NYSE ref1 Allegra Strategies ref1 Allford, Simon ref1 Allford Hall Monaghan Morris ref1 Amazon.com, Inc. ref1, ref2, ref3 Apple, Inc. ref1, ref2, ref3 development kits ref1 facilities of ref1 product lines of ref1 Argentina Buenos Aires share of GDP ref1 Association of London Councils ref1 AT&T Inc. ref1 Australia ref1 Sydney ref1 Austria Vienna share of GDP ref1 Bangladesh economy of ref1 Dhaka ref1 Bank of England investment guidelines ref1 BASF SE ref1 Bell Telephones personnel of ref1 Bennet, Natalie leader of Green Party ref1 bicycles ref1 fatalities associated with ref1 sales of ref1 use in commuting ref1 big data ref1 Birmingham Science Park Aston Innovation Birmingham Complex ref1 Bold Rocket ref1 bonuses ref1 use in property market ref1 Boston Consulting Group ref1, ref2 British Bars and Pubs Association ref1 British Broadcasting Corporation (BBC) BBC Scotland ref1 Brough, Graham ref1 Brown, Gordon ref1, ref2 Burkina Faso Ouagadougou ref1 Burt, Prof Ronald ref1, ref2 Cable and Wireless assets of ref1 Cameron, David economic policies of ref1, ref2 immigration policies of ref1 Canada ref1 Montreal ref1 Toronto ref1, ref2 Vancouver ref1 capital rate of return ref1, ref2 capitalism ref1, ref2, ref3 profits ref1 Catholicism ref1 Centre for Cities ref1, ref2 Centre for Economics and Business Research (Cebr) ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9 estimates of UK economic growth ref1 offices of ref1 personnel of ref1, ref2 Centre for Retail Research ref1, ref2 champagne sales figures ref1, ref2 Channel 4 ref1 China Beijing ref1, ref2, ref3 Haidian district ref1 economy of ref1 Golden Shield firewall (Great Firewall of China) ref1 government of ref1, ref2, ref3 Hong Kong ref1, ref2, ref3, ref4, ref5, ref6 Cyberport ref1 Hong Kong Stock Exchange ref1 People’s Liberation Army (PLA) ref1, ref2 special economic zones Hangzhou ref1 Shenzhen ref1 Zhongguancun Innovation Way (Z-innoway) ref1 China Mobile ref1 China Telecom ref1 China Unicom ref1 Cisco Systems facilities of ref1 cloud computing ref1, ref2 Coalition Government immigration policy of ref1, ref2 coffee shops culture of ref1 cyber cafes ref1 growth of market ref1 Commonwealth migration from ref1 Companies House ref1 Confederation of British Industry (CBI) ref1, ref2 personnel of ref1 Confucianism ref1 Conservative Party ref1 Cooper, Wayne ref1 Corporation of London ref1, ref2, ref3 Crafts, Nick ref1 creative economy ref1 Cridland, John leader of CBI ref1 Cromwell, Oliver ref1 Crow, Bob ref1 Daily Mail ref1 Danone ref1 Danticat, Edwidge ref1 Davis, Charles ref1 Decoded ref1 Deloitte ref1 deregulation of financial markets (1986) ref1 digital economy ref1, ref2, ref3, ref4 emergence of ref1, ref2 role of creativity in ref1 Dorling, Danny ref1 Dunne, Ronan CEO of O2 (UK) ref1 Durden, Tyler ref1 Economic Journal, The ref1, ref2 Economist, The ref1, ref2, ref3 Edinburgh University ref1 Eggers, Dave Circle, The (2013) ref1 Egypt Cairo ref1 share of GDP ref1 employment ref1 growth ref1 immigrant labour ref1 in FWE ref1, ref2, ref3, ref4 job creation ref1 low-skilled jobs ref1 public sector 1112 science, technology, engineering and mathematics (STEM) ref1 growth of ref1 shortages ref1 end user demand ref1 Engels, Friedrich ref1 Entrepreneurs for the Future (E4F) ref1 entrepreneurship ref1, ref2, ref3 e.Republic Center for Digital Government and Digital Communities Digital Cities award programme ref1, ref2 Esquire (magazine) ref1 European Economic Area (EEA) ref1 migrants from ref1 contribution to fiscal system ref1 migrants from outside ref1 contribution to fiscal system ref1 European Union (EU) free movement of labour in ref1 member states of ref1, ref2, ref3 taxation regulations ref1 Eurostar ref1 Eurozone ref1, ref2 Crisis (2009–) ref1, ref2, ref3 economy ref1 Facebook ref1, ref2, ref3, ref4 IPO of ref1 Falmouth University ref1 Fan, Donald Senior Director for Office for Diversity of Walmart ref1 FanDuel ref1 Farage, Nigel leader of UKIP ref1 feudalism ref1 financial services ref1, ref2, ref3, ref4, ref5 lifestyles associated with ref1, ref2 Financial Times (FT) ref1 FT Global Top 500 Companies ref1 Fintech ref1 First World War (1914–18) ref1 fiscal transfer ref1, ref2, ref3 net ref1 potential use to cover local deficits ref1 Flat White Economy (FWE) ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11, ref12, ref13, ref14, ref15, ref16, ref17 advantages of immigration for ref1, ref2, ref3 business model for ref1 development and growth of ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9 employment in ref1, ref2, ref3, ref4 shortages ref1 impact on UK economy ref1, ref2 model of ref1, ref2, ref3 replicating ref1-ref2 role of creativity in ref1 startups in ref1 business model ref1 Flat Whiters ref1 accommodation data for ref1 social culture of ref1 fashion ref1 nightlife ref1 transport ref1 technology used by ref1 Forbes (magazine) ref1 France ref1 education system of ref1 Paris ref1, ref2, ref3 share of GDP ref1 Paris-Sarclay ref1 creation of (2006) ref1 potential limitations of ref1 promotion of ICT in ref1 Forst and Sullivan ref1 France ref1, ref2 Freeman, Prof Christopher ref1 Fujitsu Ltd. ref1 Funding Circle ref1 Gates, Bill ref1 Germany ref1, ref2, ref3 Berlin ref1 economy of ref1 Glaeser, Edward ref1 Triumph of the City, The ref1 Global Financial Crisis (2007–9) ref1, ref2 Banking Crises (2008) ref1 impact on migration ref1 UK recession (2008–9) ref1 Global Innovation Index ref1 globalisation ref1, ref2, ref3 Glyn, Andrew ref1 Goodison, Sir Nicholas Chairman of the Stock Exchange ref1 Google, Inc. ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8 acquisitions made by ref1 development kits ref1 offices of ref1, ref2 Greater London Authority (GLA) ref1, ref2 Green Party members of ref1 Gröningen Growth and Development Centre ref1 Guardian, The ref1, ref2, ref3 Harbron, Rob ref1, ref2 Harrison, Andy Chief Executive of Whitbread ref1 Harvard Business School ref1 Harvard University Harvard Lab for Computer Graphics and Spatial Analysis ref1 HCL Technologies ref1 Heisnberg, Werner uncertainty principle ref1 Hewlett-Packard Company (HP) ref1 Huawei Technologies ref1 immigration ref1, ref2, ref3, ref4, ref5, ref6 advantages for FWE ref1, ref2, ref3 economic impact of ref1, ref2 impact on social cohesion ref1 impact on wages ref1 legislation ref1 access to state benefits ref1 quota systems ref1 non-EEA ref1, ref2 restrictions on ref1, ref2, ref3 Imperial College, London facilities of ref1 India ref1, ref2 Calcutta ref1 IT sector of ref1 Karnataka ref1 Bangalore ref1, ref2, ref3, ref4 Electronics City ref1 Mumbai ref1 inequality ref1 potential role of London in ref1, ref2 sources of wealth ref1 Infosys Ltd ref1 initial public offering (IPOs) ref1 innovation ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8 hubs ref1, ref2 independent ref1 investments in ref1 projects ref1 Institute for Public Policy Research ref1 intellectual property protection of ref1, ref2 Intel Corporation ref1, ref2, ref3 facilities of ref1 personnel of ref1 International Business Machines (IBM) ref1, ref2 facilities of ref1, ref2, ref3 personnel of ref1, ref2, ref3 internet usage ref1 investment ref1, ref2, ref3 advertising and marketing ref1 capitalising of ref1 in innovation ref1 process of ref1 Israel ref1, ref2 Defence Ministry ref1 Haifa ref1 tech sector of ref1 IT spending ref1, ref2 accounting for ref1 software ref1 Italy ref1 Frascati ref1 Rome ref1 ITC Infotech India Ltd ref1 Japan ref1 economy of ref1 Tokyo ref1 share of GDP ref1 Johnson, Boris Mayor of London ref1, ref2, ref3 Johnson Press plc ref1 Judaism ref1 Kaldor, Nicholas ref1 Keynes, John Maynard ref1 Economic Consequences of the Peace, The ref1 KPMG ref1 labour ref1 division of ref1 immigrant ref1, ref2, ref3, ref4 market ref1 shocks ref1 share of income ref1, ref2 supply of ref1, ref2, ref3, ref4 Labour Party ref1 immigration policies of ref1 Lai, Ian ref1 Laserfiche ref1 Lawson, Nigel ref1 Leeds Beckett University ref1 Level 39 ref1 Liberal Democrats immigration policies of ref1 lifestyles ref1 associated with financial services ref1 Livingstone, Ken ref1 Lloyds ref1 London School of Economics (LSE) ref1 MadRat games ref1 MagnetWorks Engineering ref1 Mahindra Satyam ref1 Mainelli, Michael Gresham Professor of Commerce ref1 Malaysia ref1 Kuala Lumpur ref1 Manchester Science Parks (MSP) ref1 market capitalisation ref1, ref2 market economy ref1 Marx, Karl ref1, ref2 Labour Theory of Value ref1 Marxism ref1 Massachusetts Institute of Technology (MIT) ref1 campuses of ref1 Technology Review ref1, ref2 MasterCard ref1 McAfee, Inc. ref1 McKinsey Global Institute ref1 McQueen, Alexander ref1 McWilliams, Sir Francis ref1 Pray Silence for Jock Whittington (2002) ref1 Medvedev, Dmitry ref1 technology policies of ref1 Metcalfe, Robert ref1 Metcalfe’s Law concept of ref1 Mexico ref1 Mexico City ref1 share of GDP ref1 Microsoft Corporation ref1, ref2, ref3, ref4 facilities of ref1 Future Decoded conference ref1 personnel of ref1 Windows (operating system) ref1 Migration Advisory Committee ref1 Miliband, Ed immigration policies of ref1 MindCandy ref1 Moshi Monsters ref1 offices of ref1 Mitsui Chemicals ref1 Mohan, Mukund CEO of Microsoft Ventures in India ref1 Mongolia Ulan Bator ref1 Moore, Gordon Earle Moore’s Law ref1 MphasiS ref1 National Institute of Economic and Social Research (NIESR) ref1, ref2 Netherlands Amsterdam ref1 network effects ref1 relationship with supereconomies of scale ref1 Network Rail offices of ref1 New Scientist ref1 New Statesman ref1 Nitto Denko ref1 Nokia Oyj ref1 O2 (Telefónica UK Limited) ref1 offices of ref1 personnel of ref1 Office of Communications (Ofcom) ref1 Olympic Games (2012) ref1, ref2 online shopping ref1, ref2 Organisation for Economic Cooperation and Development (OECD) ref1, ref2, ref3, ref4 Osborne, George ref1 Outblaze ref1 Pareto Principle concept of ref1 Passenger Demand Forecasting Council ref1 PayPal ref1 PCCW ref1 Poland accession to EU (2004) ref1 Pollock, Erskine ref1 Procter & Gamble Co. ref1 property markets ref1, ref2 commercial ref1, ref2 housebuilding ref1, ref2 house/property prices ref1, ref2, ref3, ref4 property crisis (2007) ref1 residential ref1 use of bonuses in ref1 public spending ref1, ref2, ref3 Barnett formula ref1 relationship with taxation ref1 Qualcomm facilities of ref1 Reinartz, Werner ref1 Republic of Ireland ref1 research and development (R&D) ref1, ref2, ref3 definitions of ref1, ref2 expenditure ref1, ref2 hubs ref1, ref2 industrial ref1 Research Council for the Arts and Humanities ‘Diasporas, Migration and Identities’ ref1 Rogers, Everett Diffusion of Innovations (1962) ref1 Russian Federation ref1 economy of ref1 Defence Ministry ref1 Moscow ref1, ref2 Skolkovo Innovation Centre ref1, ref2 Saffert, Peter ref1 sales and advertising ref1 Sarkozy, Nicolas technology policies of ref1 Scottish Media Group (STV) ref1 Second World War (1939–45) Blitz, The (1940–1) ref1 shared accommodation ref1 Silicon Canal ref1 Silicon Roundabout ref1, ref2, ref3, ref4, ref5 Silicon Valley ref1, ref2, ref3, ref4, ref5, ref6 role of US government defence spending in development of ref1 social culture of ref1 Silva, Rohan Senior Policy Advisor to David Cameron ref1 Singapore ref1, ref2, ref3, ref4 government of ref1 Research, Innovation and Enterprise Plan (RIE 2015) ref1 research centres of ref1 A*Star Biopolis ref1 Fusionopolis ref1 Campus for Research Excellence and Technological Enterprise (Create) ref1 CleanTech Park ref1 Singapore Science Park ref1 Tuas Biomedical Park ref1 skills drain ref1 Skyscanner ref1 small- and medium-sized businesses (SMBs) ref1 small- and medium-sized enterprises (SMEs) ref1 Small Business Service Household Survey of Entrepreneurship ref1 Smith, Adam Wealth of Nations, The ref1 Smith, Michael Acton founder of MindCandy ref1 Social Democratic Party (SDP) formation of (1981) ref1 social media ref1 restrictions on ref1 Solow, Robert ref1 South Africa Johannesburg share of GDP ref1 South East Regional Assembly ref1 South Korea Seoul ref1 share of GDP ref1 Spain Barcelona ref1 Ibiza ref1 Sprint Corporation ref1 startups ref1 business models of ref1 in FWE ref1 Stigler, George ref1 supereconomies of scale concept of ref1 relationship with network effects ref1 Sweden Stockholm share of GDP ref1 Tata Consultancy Services ref1 taxation ref1, ref2, ref3, ref4, ref5 allowance ref1 corporation ref1 EU regulations ref1 National Insurance ref1, ref2, ref3 regional variation of ref1 relationship with public spending ref1 Tech City ref1, ref2, ref3 technology clusters ref1, ref2, ref3 identification of ref1 Techstars/Barclays ref1 telecommunications ref1 Thatcher, Margaret ref1, ref2 Thile, Peter ref1 trade unions ref1 Transport for London (TfL) ref1, ref2 UK Independence Party (UKIP) members of ref1, ref2 United Kingdom (UK) ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10 Bath ref1 Birmingham ref1, ref2 Bristol ref1 Cambridge ref1 Cheshire ref1 Civil Service ref1 Department for Business, Innovation and Skills ref1, ref2 Department for Transport ref1 economy of ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9 contribution of creative industries to ref1 growth of ref1, ref2, ref3, ref4, ref5 Edinburgh ref1 GDP per capita ref1, ref2, ref3, ref4, ref5, ref6 Glasgow ref1, ref2 media clusters in ref1 government of ref1, ref2, ref3 Index of Multiple Deprivation ref1 ‘Innovation Report 2014’ ref1 Hounslow ref1 labour market of ref1 Leeds ref1, ref2, ref3 London ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11, ref12, ref13, ref14, ref15, ref16, ref17, ref18, ref19, ref20, ref21, ref22, ref23 business sector of ref1 Camden ref1, ref2 City Fringes ref1, ref2 City of London ref1, ref2, ref3, ref4, ref5, ref6, ref7 cultural presence of ref1 economy of ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10 migrant labour in ref1 expansion of ref1, ref2, ref3 GDP per capita ref1, ref2 GVA of ref1, ref2, ref3 Hackney ref1, ref2, ref3 Haringey ref1, ref2 Islington ref1, ref2 Old Street ref1, ref2, ref3, ref4, ref5, ref6 share of national GDP ref1 Shoreditch ref1, ref2, ref3, ref4 Tower Hamlets ref1 transport infrastructure of ref1 Crossrail ref1 Westminster ref1, ref2, ref3 Manchester ref1, ref2, ref3 Midlands ref1 Milton Keynes ref1, ref2 Newbury ref1 Newcastle ref1 Northern Ireland ref1 Northampton ref1 Office for National Statistics (ONS) ref1 Oxford ref1 Parliament House of Commons ref1 House of Lords ref1 pub industry of ref1 Reading ref1 Salford ref1 Slough ref1 United States of America (USA) ref1, ref2, ref3, ref4 Baltimore, MD ref1 Boston, MA ref1, ref2 Buffalo, NY ref1 Cambridge, MA ref1 Chicago, IL ref1 Columbus, OH ref1 Detroit, MI ref1 economy of ref1 government of ref1, ref2 Irving, TX ref1 Jacksonville, FL ref1 Los Angeles, CA ref1 Minneapolis, MN ref1 Nashville, TN ref1 New York City, NY ref1, ref2, ref3, ref4 New York Stock Exchange (NYSE) ref1 Palo Alto, CA ref1 Portland, OR ref1, ref2 Raleigh, NC ref1 Salt Lake City, UT ref1 San Diego, CA ref1 San Francisco, CA ref1 Seattle, WA ref1, ref2 Washington DC ref1 Winston-Salem, NC ref1 University of Chicago faculty of ref1, ref2 University of London ref1 University of Sussex faculty of ref1 venture capital ref1, ref2 Visa facilities of ref1 Vodafone offices of ref1 wages ref1, ref2, ref3, ref4, ref5, ref6 depression of ref1, ref2 growth of ref1 impact of immigration on ref1 low ref1, ref2 Walmart personnel of ref1, ref2 Waze acquired by Google ref1 We Are Apps ref1 Whitbread Costa Coffee ref1 personnel of ref1 Wikipedia ref1 Wilson, Harold ref1 administration of ref1 Wipro Technologies ref1 Wired (magazine) ref1 Woolfe, Steven UKIP spokesman on migration and financial affairs ref1 World Bank ref1 Xiaomi ref1 Yorkshire Post, The ref1 ZopNow ref1


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Red Flags: Why Xi's China Is in Jeopardy by George Magnus

"World Economic Forum" Davos, 3D printing, 9 dash line, Admiral Zheng, AlphaGo, Asian financial crisis, autonomous vehicles, balance sheet recession, banking crisis, Bear Stearns, Bretton Woods, Brexit referendum, BRICs, British Empire, business process, capital controls, carbon footprint, Carmen Reinhart, cloud computing, colonial exploitation, corporate governance, crony capitalism, currency manipulation / currency intervention, currency peg, demographic dividend, demographic transition, Deng Xiaoping, Doha Development Round, Donald Trump, financial deregulation, financial innovation, financial repression, fixed income, floating exchange rates, full employment, general purpose technology, Gini coefficient, global reserve currency, Great Leap Forward, high net worth, high-speed rail, hiring and firing, Hyman Minsky, income inequality, industrial robot, information security, Internet of things, invention of movable type, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, labour market flexibility, labour mobility, land reform, Malacca Straits, means of production, megacity, megaproject, middle-income trap, Minsky moment, money market fund, moral hazard, non-tariff barriers, Northern Rock, offshore financial centre, old age dependency ratio, open economy, peer-to-peer lending, pension reform, price mechanism, purchasing power parity, regulatory arbitrage, rent-seeking, reserve currency, rising living standards, risk tolerance, Shenzhen special economic zone , smart cities, South China Sea, sovereign wealth fund, special drawing rights, special economic zone, speech recognition, The Wealth of Nations by Adam Smith, total factor productivity, trade route, urban planning, vertical integration, Washington Consensus, women in the workforce, working-age population, zero-sum game

China’s relative backwardness at the time was suitably illustrated by the inspirational but ageing Deng Xiaoping, who had been dismissed and then rehabilitated by the Party in earlier years, and who was trying to revive reforms that had been put on hold in the wake of the Tiananmen Square disturbances in 1989.1 He urged citizens to strive to match the economic growth rates of China’s Asian neighbours, and, as Henry Kissinger recalled, he extolled the ‘four big items’ it was essential to make available to consumers in the countryside: a bicycle, a sewing machine, a radio and a wristwatch.2 Under the slogan ‘Reform and Opening Up’, Deng articulated and inspired China to become modern, to prioritise science and technology, to encourage intellectuals to return home, and possibly to become a ‘moderately developed country’ within a hundred years. Under his leadership, the 1980s brought significant reforms of agriculture, measures to help spur the growth in private firms, and the creation of special economic zones (SEZs) in rural backwaters, such as Shenzhen, designed to attract foreign investment and bolster private enterprise and financial liberalisation.3 Based on these experiences and on opening up to both the US and other countries for political and economic exchanges, China kicked on in the 1990s, now under the leadership of Deng’s successors, Party General Secretary and President Jiang Zemin and his able premier Zhu Rongji.

–China Strategic and Economic Dialogue (i) Hua Guofeng (i) Huangpu district (Shanghai) (i) Huawei (i), (ii), (iii), (iv) hukou (i), (ii), (iii), (iv) Human Freedom Index (i) Human Resources and Social Security, Ministry of (i) Hunan (i) Hungary (i), (ii), (iii), (iv) ICORs (incremental capital-output ratios) (i), (ii), (iii) n4 IMF Article IV report (i) on broadening and deepening of financial system (i) China urged to devalue (i) China’s integration and (i) concern over smaller banks (i) concern over WMPs (i) credit gaps (i) credit intensity (i) GP research (i) ICOR (i) n4 laissez-faire ideas (i) pensions, healthcare and GDP research (i), (ii), (iii) Renminbi reserves (i) risky corporate loans (i) Special Drawing Rights (i), (ii), (iii), (iv), (v) WAPs (i) immigrants see migrants income inequality (i) India Adam Smith on (i) ASEAN (i) BRI misgivings (i) BRICS (i), (ii) comparative debt in (i) demographic dividend (i) economic freedom level (i) frictions with (i) Nobel Prize (i) pushing back against China (i) regional allies of (i) SCO member (i) Indian Ocean access to ports (i) African rail projects and (i) Chinese warships enter (i) rimland (i) shorelines (i) Indo-Pacific region (i), (ii) Indonesia Asian crisis (i) BRI investment (i) debt and GDP (i) GDP (i) rail transport projects (i) RCEP (i) retirement age (i) trade with China (i) Industrial and Commercial Bank of China (i), (ii) Industrial Revolution (i), (ii) industrialisation (i), (ii) Industry and Information Technology, Minister of (i) infrastructure (i), (ii), (iii), (iv) Initial Public Offerings (IPOs) (i) Inner Mongolia (i), (ii) innovation (i), (ii) Inquiry into the Nature and Causes of the Wealth of Nations (Adam Smith) (i) Institute for International Finance (i) institutions (i), (ii) insurance companies (i), (ii), (iii) intellectual property (i) interbank funding (i), (ii), (iii), (iv), (v) investment (i), (ii), (iii) Iran (i) Ireland (i), (ii), (iii) Iron Curtain (i) ‘iron rice bowl’ (i) Israel (i), (ii) Italy (i), (ii), (iii) Jakarta (i), (ii) Japan acts of aggression by (i) aftermath of war (i) ASEAN (i) between the wars (i) bond market (i) Boxer Rebellion and (i) Chiang Kai-shek fights (i) China and (i) China’s insecurity (i) credit gap comparison (i) dispute over Diaoyu islands (i), (ii) export-led growth (i), (ii) financial crisis (i) friction with (i) full-scale war with China (i), (ii) growth (i) high-speed rail (i) India and (i) Liaodong peninsula (i) Manchuria taken (i), (ii), (iii) Mao fights (i) middle- to high-income (i) migrants to (i) Okinawa (i) old-age dependency ratio (i) pensions, healthcare and GDP research (i) pushing back against China (i) RCEP (i) Renminbi block, attitude to (i) research and development (i) rimland (i) robots (i) seas and islands disputes (i) Shinzō Abe (i) TPP (i) trade and investment from (i) yen (i) Jardine Matheson Holdings (i) Jiang Zemin 1990s (i) Deng’s reforms amplified (i), (ii), (iii) influence and allies (i) Xiao Jianhua and (i) Johnson, Lyndon (i) Julius Caesar (i) Kamchatka (i) Kashgar (i) Kashmir (i) Kazakhstan (i), (ii) Ke Jie (i) Kenya (i) Keynes, John Maynard (i) Kharas, Homi (i) Kissinger, Henry (i), (ii), (iii), (iv) Korea (i), (ii), (iii) see also North Korea; South Korea Korean War (i), (ii) Kornai, János (i), (ii), (iii) n16 Kowloon (i), (ii) Krugman, Paul (i) Kunming (i) Kuomintang (KMT) (i), (ii) Kyrgyzstan (i) Kyushu (i) labour productivity (i) land reform (i) Laos (i), (ii), (iii) Latin America (i), (ii), (iii) Lattice Semiconductor Corporation (i) leadership (i) Leading Small Groups (LSGs) (i), (ii), (iii), (iv) Lee Kuan Yew (i) Lee Sodol (i) Legendary Entertainment (i) Lehman Brothers (i) lending (i) Leninism governance tending to (i) late 1940s (i) party purity (i) Xi’s crusade on (i), (ii) Lenovo (i), (ii) Lewis, Arthur (i) Lewis turning point (i) LGFVs (local government financing vehicles) (i) Li Keqiang (i), (ii) Liaodong peninsula (i), (ii) LinkedIn (i) Liu He (i), (ii), (iii) Liu Xiaobo (i) local government (i), (ii), (iii) London (i), (ii), (iii) Luttwak, Edward (i), (ii), (iii) Macartney, Lord George (i), (ii), (iii) Macau (i), (ii) Made in China 2025 (MIC25) ambitious plans (i) importance of (i) mercantilism (i) priority sectors (i) robotics (i) Maddison, Angus (i), (ii), (iii) n3 (C1) Maghreb (i) major banks see individual entries Malacca, Straits of (i) Malay peninsula (i) Malaysia ASEAN member (i) Asian crisis (i) high growth maintenance (i) Nine-Dash Line (i) rail projects (i), (ii) Renminbi reserves (i) TPP member (i) trade with (i) Maldives (i) Malthus, Thomas (i), (ii) Manchuria Communists retake (i) Japanese companies in (i) Japanese puppet state (i), (ii), (iii) key supplier (i) North China Plain and (i) Pacific coast access (i) Russian interests (i) targeted (i) Manhattan (i), (ii) see also New York Mao Zedong arts and sciences (i) China stands up under (i) China under (i) Communist Party’s grip on power (i) consumer sector under (i) Deng rehabilitated (i) Deng, Xi and (i) east wind and west wind (i) Great Leap Forward (i) industrial economy under (i) nature of China under (i) People’s Republic proclaimed (i) positives and negatives (i) property rights (i) women and the workforce (i) Xi and (i) Maoism (i) Mar-a-Lago (i) Mark Antony (i) Market Supervision Administration (i) Marshall Plan (i), (ii) Marxism (i), (ii), (iii), (iv) Mauritius (i) May Fourth Movement (i) McCulley, Paul (i) n18 Mediterranean (i) Menon, Shivshankar (i) mergers (i) MES (market economy status (ii)) Mexico completion of education rates (i) debt comparison (i) GDP comparison (i) NAFTA (i) pensions comparison (i) TPP member (i) US border (i) viagra policy (i) Middle East (i), (ii), (iii) middle-income trap (i), definition (i) evidence and argument for (i) governance (i) hostility to (i) hukou system (i) lack of social welfare for (i) low level of (i) migrant factory workers (i) patents and innovation significance (i) significance of technology tech strengths and weaknesses (i) total factor productivity focus (i) vested and conflicted interests (i) ultimate test (i) World Bank statistics (i) migrants (i), (ii), (iii), (iv), (v) Ming dynasty (i) Minsky, Hyman (i) mixed ownership (i), (ii) Modi, Narendra (i) Mombasa (i) monetary systems (i) Mongolia (i), (ii) Monogram (i) Moody’s (i) Morocco (i) mortality rates (i) see also population statistics mortgages (i) motor cars (i), (ii) Moutai (i) Mundell, Robert (i) Muslims (i) Mutual Fund Connect (i) Myanmar ASEAN (i) Chinese projects (i) disputes (i) low value manufacturing moves to (i) Qing Empire in (i) ‘string of pearls’ (i) ‘Myth of Asia’s Miracle, The’ (Paul Krugman) (i) NAFTA (North American Free Trade Agreement) (i) Nairobi (i) Namibia (i) Nanking (i) Treaty of (i), (ii) National Bureau of Statistics fertility rates (i) GDP figures (i) ICOR estimate (i), (ii), (iii) n4 SOE workers (i) National Cyberspace Work Conference (i) National Development and Reform Commission (i), (ii), (iii) National Financial Work Conferences (i) National Health and Family Planning Commission (i) National Medium and Long-Term Plan for the Development of Science and Technology (i) National Natural Science Foundation (i) National People’s Congress 2007 (i) 2016 (i) 2018 (i), (ii), (iii), (iv) National People’s Party of China (i) National Science Foundation (US) (i) National Security Commission (i) National Security Strategy (US) (i), (ii) National Supervision Commission (i), (ii), (iii), (iv) Needham, Joseph (i) Nepal (i), (ii) Netherlands (i) New Development Bank (i), (ii) New Eurasian Land Bridge (i) New Territories (i), (ii) New York (i) see also Manhattan New Zealand (i), (ii), (iii) Next Generation AI Development Plan (i) Nigeria (i) Nine-Dash Line (i) Ningpo (i) Nixon, Richard (i) Nobel Prizes (i), (ii) Nogales, Arizona (i) Nogales, Sonora (i) Nokia (i) non-communicable disease (i) non-performing loans (i), (ii), (iii), (iv), (v), (vi) North China Plain (i) North Korea (i) see also Korea Northern Rock (i) Norway (i) Nye, Joseph (i) Obama, Barack Hu Jintao and (i) Pacific shift recognised (i) Renminbi (i) US and China (i), (ii) OECD (Organisation for Economic Co-operation and Development) China’s ranking (i) GDP rates for pension and healthcare (i) GP doctors in (i) tertiary education rates (i) US trade deficit with China (i) Office of the US Trade Representative (i) Official Investment Assistance (Japan) (i) Okinawa (i) old-age dependency ratios (i), (ii), (iii) Olson, Mancur (i) Oman (i) one-child policy (i), (ii) Opium Wars financial cost of (i) First Opium War (i), (ii), (iii) Qing dynasty defeated (i) Oriental Pearl TV Tower, Shanghai (i) Pacific (i), (ii), (iii) Padma Bridge (i) Pakistan Economic Corridor (i) long-standing ally (i) Renminbi reserves (i) SCO member (i) ‘string of pearls’ (i) Paris (i) Party Congresses see numerical list at head of index patents (i) Peking (i), (ii), (iii) see also Beijing pensions (i) People’s Bank of China see also banks cuts interest rates again (i) floating exchange rates (i) lender of last resort (i), (ii) long term governor of (i) new rules issued (i) new State Council committee coordinates (i) places severe restrictions on banks (i) publishing Renminbi values (i) Renminbi/dollar rate altered (i) repo agreements (i) sells dollar assets (i) stepping in (i) Zhou Xiaochuan essay (i) People’s Daily front-page interview (i), (ii) on The Hague tribunal (i) riposte to Soros (i) stock market encouragement (i) People’s Liberation Army (i), (ii) Persia (i) Persian Gulf (i), (ii) Peru (i) Pettis, Michael (i) n12 Pew Research (i) Peyrefitte, Alain (i) Philippines (i), (ii), (iii), (iv) Piraeus (i) PISA (Programme for International Student Assessment) (i) Poland (i), (ii), (iii) ‘Polar Silk Road’ (i) Politburo (i), (ii), (iii), (iv) pollution (i) Polo, Marco (i) Pomeranz, Kenneth (i) population statistics (i) see also ageing trap; WAP (working-age population) consequences of ageing (i) demographic dividends (i), (ii) hukou system and other effects (i) low fertility (i), (ii), (iii) migrants (i), (ii) old-age dependency ratios (i), (ii), (iii) one-child policy (i), (ii) places with the most ageing populations (i) rural population (i) savings trends (i) technology and (i) under Mao (i) women (i) Port Arthur (i) Port City Colombo (i), (ii) Portugal (i), (ii), (iii), (iv) pricing (i), (ii) private ownership (i), (ii) productivity (i), (ii) Propaganda, Department of (i) property (i) property rights (i) Puerto Rico (i) Punta Gorda, Florida (i) Putin, Vladimir (i) Qianlong, Emperor (i) Qing dynasty (i), (ii), (iii) Qingdao (i) Qualcomm (i) Qualified Domestic Institutional Investors (i), (ii) Qualified Foreign Institutional Investors (i), (ii) Qiushi, magazine (i) rail network (i), (ii) RCEP (Regional Comprehensive Economic Partnership) (i), (ii), (iii) real estate (i), (ii) reform authoritative source warns of need for (i), (ii) different meaning from West (i) of economy via rebalancing (i), (ii) as embraced by Deng Xiaoping (i) fiscal, foreign trade and finance (i), (ii) Hukou (i) of ownership (i) state-owned enterprises (i) third plenum announcements (i) in Xi Jinping’s China (i) ‘Reform and Opening Up’ (Deng Xiaoping) (i), (ii), (iii) regulations and regulatory authorities (financial) (i), (ii) Reinhart, Carmen (i) Renminbi (i) 2015 mini-devaluation and capital outflows (i), (ii) appreciates (i) banking system’s assets in (i) bloc for (i) capital flight risk (i) devaluation (i), (ii), (iii), (iv) dim sum bonds (i) efforts to internationalise (i) end of peg (i) foreign investors and (i) fully convertible currency, a (i) growing importance of (i) IMF’s Special Drawing Rights (i) Qualified Institutional Investors (i) in relation to reserves (i) Renminbi trap (i), (ii), (iii), (iv) share of world reserves (i) significance of (i), (ii) Special Drawing Rights and (i), (ii) US dollar and (i), (ii), (iii), (iv), (v) repo markets (i), (ii) research and development (R&D) (i), (ii) Resources Department (i) retirement age (i) Rhodium Group (i) rimland (i) Robinson, James (i) robots (i) Rogoff, Kenneth (i) Roman Empire (i) Rotterdam (i) Rozelle, Scott (i) Rudd, Kevin (i) Rudong County (i) Rumsfeld, Donald (i) Rural Cooperative Medical Scheme (i) rural workers (i) Russia see also Soviet Union 19th century acquisitions (i), (ii) ageing population (i) BRI and (i) BRICS (i), (ii), (iii) C929s (i) China’s view of (i) early attempts at trade (i) fertility rates (i) Human Freedom Index (i) middle income trap and (i) Pacific sea ports (i) Polar Silk Road (i) Renminbi reserves (i) SCO member (i) Ryukyu Islands (i) Samsung (i) San Francisco (i) SASAC (i), (ii) Saudi Arabia (i) savings (i), (ii), (iii) Scarborough Shoal (i) Schmidt, Eric (i) Schumpeter, Joseph (i) SCIOs (i) Second Opium War (i) Second World War China and Japan (i), (ii) economic development since (i) Marshall Plan (i), (ii) US and Japan (i) Senkaku islands see Diaoyu islands separatism (i), (ii) Serbia (i) service sector (i), (ii) Seventh Fleet (US) (i) SEZs (special economic zones) (i), (ii), (iii), (iv) shadow banks (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix) n18 see also banks Shandong (i), (ii) Shanghai 1st Party Congress (i) arsenal (i) British influence in (i) central bank established (i) Deng’s Southern Tour (i) firms halt trading (i) income per head (i) interbank currency market (i) PISA scores (i) pollution (i) property price rises (i) stock market (i), (ii), (iii) Western skills used (i) Shanghai Composite Index (i), (ii) Shanghai Cooperation Organisation (SCO) (i), (ii), (iii) Shanghai Free Trade Zone (i), (ii), (iii) Shanghai–Hong Kong Bond Connect Scheme (i) Shanghai–Hong Kong Stock Connect Scheme (i), (ii) Shanghai World Financial Centre (i) Shenzhen first foreign company in (i) n3 (Intro.)

property price rises (i) SEZs (i), (ii) stock exchange opened (i), (ii) Shenzhen–Hong Kong Connect Scheme (i) shipping (i) Sichuan (i) Silk Road BRI and (i) historical routes and trade (i) Xi invokes (i), (ii), (iii) Silk Road Economic Belt (i) see also Belt and Road Initiative Silk Road Fund (i) n7 Singapore Asian Tiger economies (i) fertility rates (i), (ii) high growth maintained (i) high-speed rail links (i) middle- to high-income (i) RCEP (i) SCIOs and (i) TPP member (i) Singapore Airlines (i) Sino IC Fund (i) Sino-Japanese war (1895) (i) see also Japan Sinochem (i) Sinopec (i) skyscrapers (i) Slovenia (i) smaller banks at risk (i) Smith, Adam (i), (ii) Social Insurance Law (2011) (i), (ii) social security (i), (ii), (iii) social unrest (i) socialism (i), (ii), (iii), (iv), (v), (vi) SOEs (state-owned enterprises) (i), (ii) attempts to strengthen (i) debt for equity programmes (i) debts of (i), (ii) expansion (i) imprudent lending to (i) lagging behind private firms (i) more required of (i) privatisation (i) public-private partnerships (i) reform of (i), (ii) n16 viability (i) Sony (i) sorghum (i) Soros, George (i) South Africa BRICS (i), (ii) Chinese interests in (i) education completion rate (i) middle- to high-income (i) Renminbi reserves (i) South China Sea contested islands (i) global sea-borne trade (i) maritime goals in (i) rimland (i) Scarborough Shoal (i) Taiwan and (i) South Korea see also Korea ASEAN (i) Asian crisis (i) Asian Tiger economies (i) attitude to Renminbi bloc (i) China restricts tourism (i) external surplus comparison (i) fertility rates (i), (ii) high growth maintained (i) middle- to high-income (i), (ii) old-age dependency ratio (i) protectionist barriers (i) protests against (i) RCEP (i) retirement in (i) robots (i) US steel imports (i) Southern Tour (Deng) (i), (ii), (iii) Soviet Communist Party (i), (ii) Soviet Union backs Mao (i) fall of (i) see also Russia models adopted from (i) relations with (i) technological expertise (i) Xi learns lessons from (i) Spain (i), (ii), (iii) Special Drawing Rights (IMF) see also IMF importance of Remninbi (i) lack of practical purpose for China (i), (ii) prestige associated with (i) Renminbi admitted to (i) special economic zones (SEZs) (i), (ii), (iii), (iv) Spykman, Nicholas John (i), (ii) Sri Lanka (i), (ii), (iii) Starbucks (i) State Administration for Foreign Exchange (SAFE) (i), (ii), (iii), (iv) n7 State Council Development Research Center (i) Financial Stability and Development Committee (i) housing reform (i), (ii) Made in China 2025 (MIC25) (i) merger of Regulatory Commissions (i) regulations for migrants (i) SOEs regulation (i) state intervention (i), (ii) State-owned Assets Supervision and Administration Commission of the State Council (SASAC) (i), (ii) steel (i), (ii) Stern, Lord Nicholas (i) stock market (i) structure of banking system (i) sub-Saharan Africa (i) see also Africa Suez Canal (i) Sun Yat-sen (i), (ii) Sun Zhigang (i) Sunseeker (i) Sweden (i), (ii) SWIFT (Society for Worldwide Interbank Financial Telecommunications) (i) Swissport (i) Switzerland (i), (ii) Taiping Rebellion (i), (ii) Taiwan ageing population (i) agricultural produce of (i) Asian Tiger economies (i) diplomatic relations established (i) fertility rate (i) ‘first island chain’ (i) Foxconn (i) high growth maintained (i) loss of suzerainty (i), (ii) middle- to high-income (i) old-age dependency ratio (i) Renminbi bloc, attitude to (i) Ryukyu islands (i) separatism issue (i), (ii) US arms sales (i) Tanzania (i), (ii) Tariff Act 1930 (i) technology (i), (ii) Tencent (i), (ii) TFP (total productivity factor) (i) Thailand ASEAN (i) Asian crisis (i) disputes (i) high growth maintained (i) middle-income country (i) rail projects (i), (ii) Thames Estuary (i) Third Front Initiative (i) Tiananmen Gate (i) Tiananmen Square (i), (ii), (iii), (iv) Tianjin (Tientsin) coal mines (i) colonial architecture (i) demilitarised zone (i) free trade zone (i), (ii) growing role (i) water shortages (i) Tibet (i), (ii), (iii), (iv) Tientsin, Treaty of (i) tiers (classification of cities) (i) Togo (i) Tomorrow Group (i) TPP (Trans-Pacific Partnership) (i), (ii), (iii) Trade Act 1974 (i) trains (i), (ii) Transparency International (i) transport 13th Five-Year Plan (i) BRI initiatives (i), (ii) car sales (i), (ii) freight trains (i) rail network (i) traps (four economic) (i), (ii) Treasury (US) (i) treaty ports (i), (ii), (iii) Trump, Donald AI budget proposals (i) America First (i) China accused (i) China aided by (i) China’s edgy response (i) focus of (i) takes issue with China (i) TPP withdrawal (i) views on trade (i) Tsingtao brewery (i) TTIP (Transatlantic Trade and Investment Partnership) (i) Turkey (i), (ii), (iii), (iv) Turkic language speakers (i) TVEs (town and village enterprises) (i), (ii) UK see Britain unemployment (i) UNESCO (i) United Nations Population Division (i), (ii) United States (i) America First (i), (ii) arms sales to Taiwan (i) Asian economies and the dollar (i) Bretton Woods (i) challenges from (i) China and, a progress report (i) China and the dollar (i), (ii), (iii), (iv), (v) China as Trump’s major target (i) China’s direct investment (i) dollar’s survival (i) future administrations (i) Japan and (i) Marshall Plan (i), (ii) Mexican border (i) North Korea (i) products sold to China (i) Renminbi ‘manipulation’ (i) retreat from global leadership (i) rimland (i) rivalry with (i) tariffs (i) trade and technology disputes (i) trade deficit with China (i), (ii) Trump accuses China (i) Trump’s effect on (i) University of Wisconsin-Madison (i) Unlikely Partners (Julian Gewirtz) (i) Ural Mountains (i) urban living (i), (ii), (iii) Vanke Real Estate Corporation (i) Vasco da Gama (i) VAT (i) Venezuela (i), (ii), (iii), (iv) Versailles, Treaty of (i), (ii) vested interests (i) Vientiane (i) Vietnam 18th century (i) American steel imports (i) ASEAN (i) Chinese claims (i) Human Freedom Index (i) low value manufacturing moves to (i), (ii) TPP (i) Voltaire (i) Waldorf Astoria, Manhattan (i) Walmart (i) Wang Qishan (i) WAP (working-age population) see also population statistics child dependency and (i) defining (i) falls for first time (i), (ii) immigration rates and (i) low-cost workers (i) productivity and (i) retirement age and (i) water scarcity (i), (ii), (iii) Wellington Street (Hong Kong) (i) Wen Jiabao (i), (ii), (iii) West, the bad decisions written off by (i) China and, reviewed (i) financial crisis (i), (ii), (iii) individualism (i) rising tensions with (i) Western mindsets (i) Western skills used (i) ‘Western values’ (i) Xi minded to press his advantage (i) West Point Military Academy (i) Why Nations Fail (Daron Acemoglu and James Robinson) (i) WMPs (wealth management products) nature of (i), (ii) regulatory issues (i), (ii) small and medium size banks (i) women (i), (ii) World Bank 2015 research paper (i) ‘China 2030’ (i) China’s integration (i) Chinese cities controlled (i) ‘Governance Indicators’ (i) labour force participation (i) laissez-faire reconsidered (i) LGFV liabilities (i) MES and (i) middle income nations (i), (ii) world dominance (i) World Economic Forum (i) World Health Organization (i) World Heritage Sites (i) World Intellectual Property Organization (i) World Trade Organization (WTO) admitted (i), (ii), (iii), (iv), (v), (vi), (vii) balance of payments surge (i) export booms from (i) GATT and (i) globalisation effects (i), (ii) preparations for joining (i), (ii) retaliation rules (i) Wu Xiaohui (i) Wuhan (i) Wuhan Greenland Tower (i) Wuhan Iron and Steel (i) Wuhan Motor Engines (i) Xcerra (i) Xi Jinping see also Communist Party all-powerful (i) anti-corruption campaigns (i), (ii), (iii), (iv) Belt and Road Initiative see Belt and Road Initiative capital controls (i) Chinese Dream invoked (i), (ii) Communist Party and see Communist Party emperor-like status (i), (ii) energy and pollution aims (i) financial security campaign (i), (ii) first Belt and Road Forum (i) jeopardy (i) Leading Small Groups (i) Mao and (i), (ii), (iii) Mao, Deng and (i) president for life?


pages: 335 words: 107,779

Some Remarks by Neal Stephenson

airport security, augmented reality, barriers to entry, Bletchley Park, British Empire, cable laying ship, call centre, cellular automata, edge city, Eratosthenes, Fellow of the Royal Society, Hacker Ethic, high-speed rail, impulse control, Iridium satellite, Isaac Newton, Jaron Lanier, John von Neumann, Just-in-time delivery, Kevin Kelly, Kim Stanley Robinson, megaproject, music of the spheres, Neal Stephenson, Neil Armstrong, Norbert Wiener, offshore financial centre, oil shock, packet switching, pirate software, Richard Feynman, Saturday Night Live, shareholder value, Shenzhen special economic zone , Silicon Valley, Skype, slashdot, Snow Crash, social web, Socratic dialogue, South China Sea, SpaceShipOne, special economic zone, Stephen Hawking, the scientific method, trade route, Turing machine, undersea cable, uranium enrichment, Vernor Vinge, X Prize

He’s got kind of a peculiar expression on his face as he steps out of the elevator, and as we trade places, and I punch the button for the lobby, I recognize it: Chaz is happy. Happier than me. In the Kingdom of Mao Bell or, Destroy the Users on the Waiting List (selected excerpts) (1994) In the inevitable rotating lounge atop the Shangri-La Hotel in the Shenzhen Special Economic Zone, a burly local businessman, wearing a synthetic polo shirt stretched so thin as to be semitransparent, takes in the view, some drinks, and selections from the dinner buffet. He is accompanied by a lissome consort in a nice flowered print dress. Like any face-conscious Chinese businessman he carries a large boxy cellular phone.

Furthermore, it is prone to a subtly disturbing oscillation known to audio engineers as wow. Outside the smoked windows, Typhoon Abe is gathering his forces. Shenzhen spins around me, wowing sporadically. Thirty-one floors below is the Shen Zhen (Deep River) itself, which separates China-proper’s Special Economic Zone from Hong Kong and eventually flows into the vast estuary of the Pearl River. The boundary serves the combined functions of the Iron Curtain and the Rio Grande, yet in cyberspace terms it has already ceased to exist: —The border is riddled with leased lines connecting clean, comfortable offices in Hong Kong with factories in Shenzhen, staffed with nimble and submissive girls from rural China.

The strings of fireworks kept blowing themselves out, so as I backed slowly toward the Oil Tiger I was treated to the sight of excited Chinese software engineers lunging into the firestorm holding their cigarettes out like fencing foils, trying to reboot the strings without sacrificing eyes, fingers, or eardrums. BACK IN SHENZHEN, WHEN I’D HAD ABOUT ALL I COULD TAKE OF THE SPECIAL Economic Zone, I walked over a bridge across the Shen Zhen and found myself back in the British Empire again, filling out forms in a clean well-lit room with the Union Jack flying overhead. A twenty-minute trip in one of Hong Kong’s quiet, fast commuter trains took me through the New Territories, mostly open green land with the occasional grove of palm trees or burst of high-rise development, and into Kowloon, where I hopped into a taxi.


Border and Rule: Global Migration, Capitalism, and the Rise of Racist Nationalism by Harsha Walia

anti-communist, antiwork, Berlin Wall, Bernie Sanders, Black Lives Matter, blood diamond, borderless world, Boris Johnson, Brexit referendum, British Empire, California gold rush, clean water, climate change refugee, collective bargaining, colonial rule, contact tracing, coronavirus, COVID-19, crack epidemic, dark matter, decarbonisation, deindustrialization, Donald Trump, drone strike, Elon Musk, European colonialism, eurozone crisis, export processing zone, extractivism, fake news, Fall of the Berlin Wall, Food sovereignty, G4S, gentrification, George Floyd, global pandemic, global supply chain, Global Witness, green new deal, guest worker program, illegal immigration, immigration reform, income inequality, informal economy, Jeff Bezos, Jeremy Corbyn, joint-stock company, land reform, late capitalism, lockdown, mandatory minimum, mass immigration, mass incarceration, means of production, microcredit, military-industrial complex, Monroe Doctrine, moral panic, Naomi Klein, neoliberal agenda, Occupy movement, ocean acidification, oil shale / tar sands, open borders, pension reform, Rana Plaza, Richard Florida, Ronald Reagan, Shoshana Zuboff, social distancing, special economic zone, Steve Bannon, strikebreaker, structural adjustment programs, surveillance capitalism, trade liberalization, transatlantic slave trade, transcontinental railway, union organizing, upwardly mobile, urban planning, W. E. B. Du Bois, wages for housework, Washington Consensus, women in the workforce

In 2009, while still in his pajamas, President José Manuel Zelaya in Honduras was ousted by a military coup led by a general trained at the US-based School of the Americas (SOA, now known as Western Hemisphere Institute for Security Cooperation), where sixty-four thousand Latin American military and elite counter-insurgency forces have trained. In Zelaya’s place, successive narco-governments favorable to a neoliberal agenda of special economic zones and corporate plunder have been installed. Present-day counterinsurgency operations are layered with the paramilitarized landscape of the war on drugs and the $1.2 billion Central American Regional Security Initiative.26 Dawn Paley asserts, “The war on drugs is a long-term fix to capitalism’s woes, combining terror with policy-making in a seasoned neoliberal mix, cracking open social worlds and territories once unavailable to globalized capitalism.”27 Today, all three countries have some of the world’s highest disappearance, homicide, and femicide rates.

In Gujarat in 2002, Modi was chief minister when two thousand Muslims were horrifically massacred, women and children raped, homes burnt down, and two hundred thousand people displaced by organized Hindu majoritarian violence and ethnic cleansing.26 In 2009, the Indian government launched Operation Green Hunt under the guise of fighting Maoist Naxalites. In reality, the so-called Maoist heartland is also a mining heartland, with more than three hundred extractive special economic zones planned without consent on Adivasi lands. Over one-quarter of the world’s Indigenous population are Adivasis living within the borders of India.27 During Green Hunt, close to 250,000 police, armed forces, and counterinsurgency teams were deployed against Adivasi communities, vigilante groups like Salwa Judum received state support, and the US provided military intelligence.28 An average of forty civilians were killed weekly to destabilize and dispossess Adivasi communities and push through forcible land acquisitions.29 India’s Hindu brahmanical foundation is further solidified under Modi’s vision of a Hindu Rashtra and Hindutva’s imperial ambitions, similar to the hardening of existing ethnonationalist settler-colonial ambitions under Trump in the US and Netanyahu in Israel.

A meaningful no borders politics requires an end to forced displacement caused by the brutalities of conquest, the voraciousness of capital, and the wreckages of climate change. We must wage resistance to displacement and immobility in all its forms: drone warfare, military occupations, policing agencies, mass incarceration, reservations, ghettos, gentrification, capitalist trade agreements, special economic zones, sweatshops, land grabs, resource extraction, and temporary labor programs. Dismantling borders requires that we abandon capitalism, which has only given us the merciless expropriation of land and exploitation of labor. We need to urgently jettison regimes of private property, reject dispossessive forces of colonialism, forsake extractive labor markets, and abolish carceral regimes.


pages: 234 words: 63,149

Every Nation for Itself: Winners and Losers in a G-Zero World by Ian Bremmer

airport security, banking crisis, barriers to entry, Berlin Wall, blood diamond, Bretton Woods, BRICs, capital controls, clean water, creative destruction, Deng Xiaoping, Doha Development Round, energy security, European colonialism, failed state, global rebalancing, global supply chain, Global Witness, income inequality, informal economy, information security, Intergovernmental Panel on Climate Change (IPCC), Julian Assange, Kickstarter, Martin Wolf, mass immigration, Mikhail Gorbachev, military-industrial complex, mutually assured destruction, Nelson Mandela, Nixon shock, Nixon triggered the end of the Bretton Woods system, no-fly zone, nuclear winter, Parag Khanna, purchasing power parity, reserve currency, Ronald Reagan, smart grid, South China Sea, sovereign wealth fund, special economic zone, Stuxnet, trade route, uranium enrichment, Washington Consensus, WikiLeaks, Yom Kippur War

A year later, China still accounted for just 0.6 percent of world trade.36 In 2010, it surpassed Japan to become the world’s second largest economy, and Western bankers and economists are now taking bets on just how soon China will claim the title of the world’s largest trading nation.37 Beginning in the late 1970s, Mao’s successor as paramount leader, Deng Xiaoping, began the reform process by establishing four “special economic zones,” coastal enclaves that served as capitalist laboratories where foreign companies were invited to invest on favorable terms. Spurred by early success, Deng gradually expanded the experiment. In 1984, fourteen coastal cities were opened to a surge of foreign investment. In the countryside, agricultural production soared as new rules gave farmers new freedoms and new incentives to produce.

., 155–84 Germany compared to, 164–65 growing Internet use in, 89 ICANN opposed by, 88 India’s rivalry with, 25, 115, 173, 178 indigenous innovation strategy in, 84–85 inequality in, 52 intellectual property laws and, 84–85 Internet censored in, 90, 92, 146 Internet protocol in, 89 Japan’s tension with, 69, 70, 71, 114, 135–36, 173, 178 navy of, 71 need for reform in, 180 nuclear program of, 57, 76 outsourcing by, 127 pollution caused by, 158 possibility of U.S. war with, 170–74 safety standards and, 86 social safety net needed in, 22–23, 146–47 special economic zones in, 52 state capitalism in, 62, 78 state-owned enterprises in, 59, 61, 86, 144, 148, 160 suspicion of U.S. in, 91 trade by, 34, 52, 59–60, 63, 70, 79, 118–19, 120, 143, 153, 154, 158, 161, 163, 193–94 urbanization in, 52, 99, 118 U.S. defense contractors punished by, 129 U.S. vilification of, 13–14, 77 water security in, 105, 129–30, 140, 147 in World Bank and IMF, 29–30 as world’s largest creditor nation, 158 China Development Bank, 29, 118, 135 China Mobile, 86 China National Petroleum Corporation, 127 China Telecom, 86 China Unicom, 86 “Chinese Professor,” 162 Churchill, Winston, 151 Citizens Against Government Waste, 162 climate change, 3, 7–10, 94–97, 101, 104–5, 106, 133, 158, 168 Clinton, Bill, 163 Clinton, Hillary, 124n Cold War, 11, 30, 44, 54, 63, 65, 73, 76, 82–83, 133, 134, 137, 186, 191 Coleridge, Samuel Taylor, 67 Colombia, 25, 177 Commerce Department, U.S., 87 Communist Party, Chinese, 61, 130, 143, 146, 148, 162 Concert of Europe, 166–67 Congo, Democratic Republic of, 106, 130, 132 Congress, U.S., 191 Convention on the Law of the Non-Navigational Uses of International Watercourses (1997), 104 Cooperative Framework Agreement, 106 Copenhagen climate summit, 7–9, 21, 30, 94, 109, 110, 167, 168 Côte d’Ivoire, 130 Council on Foreign Relations, 13 creative destruction, 132, 160 Cuba, 138 cyberattacks, 3, 68, 72–76, 107, 128, 129, 133, 154, 161, 169–70, 171 Daewoo Logistics, 102 dams, 105, 106 Darwin, Charles, 126 defense contractors, 129 Democratic Party of Japan, 20 Democratic Party, U.S., 163 Deng Xiaoping, 52, 53, 59, 60 Denmark, 96–97 dinosaurs, 139–40, 160 Doctors Without Borders, 135 Doi Moi, 121 dollar, U.S., 164 convertability of, 43, 49, 50 devaluations of, 49 dominance of, 81–82 exchange rates tied to, 39, 43 as international reserve currency, 55 oil priced in, 81–82 Domain Name System, 87 droughts, 101, 106 drug trafficking, 183 Durban, South Africa, 94–95 Eastern Europe, 187 E. coli, 169 Ecuador, 177 Egypt, 48, 69, 113, 169, 179 food riots in, 98 revolution in, 112, 117, 175, 192–93 unrest in, 89 water supply of, 106 elections, 2009, Iranian, 192 elections, 2012, Russian, 182 emerging nations, 3, 16, 21, 26, 27, 29–30, 34–35, 44, 54, 59, 88, 119, 120, 179, 187 communication standards and, 84 exports from, 111 growing influence of, 76–77 rising middle class in, 98 environment, 68 equity funds, 127 Erdogan, Recep, 55 Estonia, 72 ethanol, 100 Ethiopia, 72, 106 euro, 17, 38, 54–55, 71, 155, 164, 165, 155, 181 as reserve currency, 55, 83 Europe, 16, 148–49, 170 aging population of, 120 budget crises in, 188 China’s trade with, 143 cooperation in, 174 debt and credit crisis in, 3, 17, 45, 181 defense budgets in, 134 intellectual property laws and, 84 Internet protocol in, 89 possible fragmentation in, 181 post–World War II reconstruction needed in, 38–39, 44–45 privacy laws in, 68 reduced role of, 194 European Central Bank, 71, 176 European Commission, 71 European Union, 54, 71, 117, 122, 123, 126, 132, 138, 155, 169 border controls in, 19 middle class in, 55 possible collapse of, 181 smart grids in, 73 Export-Import Bank of China, 29, 118, 135 exposed states, 135–36 ExxonMobil, 97, 127 Facebook, 91, 92–93 Ferguson, Niall, 158 “Fight the Debt Limit Extension,” 162 financial crisis, 2008, 2, 4, 11–12, 25–26, 62, 63, 65, 143, 152, 167 Finland, in Arctic Council, 96–97 food, 68, 69 security of, 3, 5, 97–104, 107, 133, 147, 152, 155, 168–69, 183 Fourcade, Jean-Pierre, 47 4G mobile phone standard, 86 France, 19, 25, 28, 39, 44, 45, 47, 166, 167 government intervention in economy in, 78 nuclear program of, 57 possible fragmentation of, 181 post–World War II reconstruction needed in, 39–40 freedom of speech, 89 French Revolution, 167 G2, 21, 35, 156 U.S.


pages: 233 words: 64,702

China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies Are Changing the Rules of Business by Edward Tse

3D printing, Airbnb, Airbus A320, Asian financial crisis, barriers to entry, bilateral investment treaty, business process, capital controls, commoditize, conceptual framework, corporate governance, creative destruction, crowdsourcing, currency manipulation / currency intervention, David Graeber, Deng Xiaoping, disruptive innovation, experimental economics, global supply chain, global value chain, Great Leap Forward, high net worth, high-speed rail, household responsibility system, industrial robot, Joseph Schumpeter, Lyft, Masayoshi Son, middle-income trap, money market fund, offshore financial centre, Pearl River Delta, reshoring, rising living standards, risk tolerance, Silicon Valley, Skype, Snapchat, SoftBank, sovereign wealth fund, special economic zone, speech recognition, Steve Jobs, thinkpad, trade route, wealth creators, working-age population

Under what became known as the “Household Responsibility System,” farmers, once they had met various contractual obligations to sell a share of their produce to the state, were free to sell everything else they grew or raised at whatever price they could find on the market. After years of repression, agricultural output soared, rising by as much as 10 percent annually through the 1980s. For the first time in decades, everyone had enough food on their tables. Further reforms continued through the decade. First in a handful of “special economic zones,” then at other locations along the coast, foreign enterprises, mostly small-scale export-processing operations from Hong Kong, opened factories and processing plants. An increasing number of goods were sold at market-set prices, not state-set ones. Then, in April 1988, with the National People’s Congress, China’s parliament approved an amendment to the country’s constitution granting private companies the formal right to exist.

Warren, 93–94 McGrath, Rita Gunther, 99 Manganese Bronze, 133 manufacturing, 109–10 Mao Zedong, 13, 42, 51 Cultural Revolution instigated by, 4, 42, 43 Marks and Spencer, 194 media, 157–62, 213 medical research, 109 Meituan.com, 53, 191 Metallurgical Corporation, 124 MG Rover, 136–37 Mi, 68 see also Xiaomi Miasolé, 123 Microsoft, 112 middle-income trap, 213–14 Mindray Medical International, 122–23, 178 mining, 119, 163 Mitchell, James, 136 motorcycles, 47, 76, 95, 100, 178 Motorola Mobility, 127, 128, 129, 136 Nan Fung, 224 Nanjing Auto, 136 Naspers, 86, 194 National People’s Congress, 43, 81 Navarro, Peter, 9 Nestlé, 194, 196 New Citizens Movement, 170 New York Stock Exchange, 33, 52, 159, 206 Nexen, 119–20 Nike, 195 Nissan, 180 Noah Wealth Management, 12, 150, 153, 212 Nokia, 102, 112 Nortel, 102 open markets, 71, 72–77, 83, 85, 88, 97 Panda W, 205–7, 208, 225 Pan Shiyi, 48 People’s Liberation Army, 101–2 Pepsi, 180 Pew Research Center, 219 piracy, 9, 75, 199 pollution, 115, 209, 212, 217, 221 Pope, Larry, 22 pride, 41, 55, 57, 61, 123 private-equity funds, 79 Procter & Gamble, 12, 175, 177 products, updating of, 97 property rights, 81, 170 Pudong New Area, 224 Putzmeister, 130 Qihoo 360, 84, 113 Qingdao Refrigerator Factory, 4–5 see also Haier Qingqi, 76 QQ, 85, 86, 160, 185, 201 Reckitt Benckiser, 194, 196 Red Packet, 88 Red Rice smartphone, 69 Renault/Nissan, 133 Renren, 52–53 Ren Zhengfei, 11, 43–44, 54, 60, 101–3, 175, 200 Rio Tinto, 119 robots, 110 Roche Diagnostics, 155 Roewe, 137 Russia, 13, 68 doctorates in, 108 oligarchs in, 17 SAIC Motor Corp, 136–37 Samsung, 67, 68, 89, 128 Sany, 178 Sanyo Electric, 7 Schumpeter, Joseph, 163 Sehgal, Aditya, 196 Sequoia Capital, 113, 150 SF Express, 100 shared heritage, 55, 61–64 Shen, Neil, 113 Shenzhen Stock Exchange, 156 Shunwei China, 112 Siemens, 102 Silicon Graphics, 112 Silicon Valley, 18 Silk Road, 57 Sina Weibo, 69, 87–88, 161, 170, 191 Singapore, 68, 100, 155 SingPost, 100 Sino Iron mine, 124 Sinovac Biotech, 109 Sky City, 217–18, 221 Skype, 129 smartphones, 9, 11, 67–70, 75, 89, 128, 135, 139 Smithfield Foods, 22, 120 Softbank, 37, 156, 194 SOHO China, 48 Sohu, 158, 159 sourcing networks, 188 South China Morning Post, 37 South Korea, 121, 141 special economic zones, 43 Standard Chartered, 151 State Administration of Press, Publication, Radio, Film, and Television, 219 State Council, 215 state-owned enterprises, 9–10, 13–14, 36, 40, 76, 80, 119, 137, 158, 164, 176, 179–80, 209, 213 strategy+business, 49–50 Su, Sam, 196 subsidies, 9, 163 Surprise (series), 160 Sze Man Bok, 43, 176, 177 Tabarrok, Alex, 113 Taikang Life Insurance, 45, 55, 148 Taiwan, 68, 121, 214 Taizhou, 44 Tang dynasty, 28–29, 229 Tango, 135 Tan Wanxin, 13 Taobao, 34–35, 38, 40, 184 TCL, 76, 84, 148 Tedjarati, Shane, 190, 196 telecoms, 103–4, 122, 178 television, 76, 158, 178, 219 Tencent, 11, 18, 39, 52, 60, 80, 81, 83–84, 85–88, 90, 101, 135, 136, 151, 158, 159, 161, 162, 185, 191, 201, 222, 225 founding of, 49, 85 innovation by, 94, 113 Naspers’ purchase of stake in, 86, 194 overseas listing of, 89 revenue of, 87 Tenpay system of, 36 Tenpay, 36, 87 Tesco, 180 Tetra Pak, 196 ThinkPad, 128 Third Plenum of the 18th Party Congress, 211, 214, 215 Thomas Group, 177–78 3D printing, 110–11 360 Mobile Assistant, 84 Tian, Lawrence, 147–48 Tiananmen Square, 44 Tingyi, 180 Tmall, 36, 38, 87, 184, 195, 206 Tmall Global, 195 Toyota, 133, 180 TPG Capital, 225 transport, 115 Tsai, Joe, 37 Twitter, 87, 222 United Kingdom, doctorates in, 108 United States, 18 doctorates in, 108 R&D spending in, 107 technological supremacy of, 106 urbanization, 28, 115, 214 Uyghurs, 53 Vanke, 148 Vantone Holdings, 46, 148 vehicles, 115 venture capital, 79 Vipshop, 84, 113, 206 Volkswagen, 133, 137, 179, 180 Volvo, 123, 131, 132, 133, 134, 138, 185 wage pressure, 98 Wallerstein, David, 136 Wal-Mart, 96, 194 Wanda E-Commerce, 88 Wang, Diane, 12, 57 Wang, Victor, 145–47, 167, 168–69, 171 Wang Jianlin, 48, 88, 172 Wang Jingbo, 12, 150, 152 Wang Shi, 148 Wang Wei, 147–48 Wang Xing, 52–53 Wanxiang, 130, 134, 178 Ward, Stephen, 126 water, 6, 25, 106, 188 WeChat, 18–19, 84, 87, 88, 139, 160, 185, 191, 201, 212 Wen Jiabao, 147 WhatsApp, 18–19, 191 WH Group, 21–22, 120 Wong, Jessica, 205–7, 208, 210, 214, 225 World Economic Forum, 147 World Health Organization (WHO), 114 World Trade Organization, 6, 16, 37–38, 47, 122, 222 Xiangcai Securities, 150 Xiaomi, 11, 12, 57, 67–70, 75, 77, 89, 101, 128, 139, 162, 191–92, 197, 226 innovation by, 94, 112, 113 Xiaonei, 52–53 Xi Jinping, 78, 80, 152, 160, 165, 167, 168, 170, 181, 210–11, 213, 223, 229 Xu, William, 222 Xue, Charles, 161, 170 Xu Lianjie, 12, 43, 53, 175–78, 200 Yabuli, 145, 147, 149, 166 Yahoo, 194 Yang Yuanqing, 11, 125–26, 128, 148 Yao, Frank, 205–7, 210, 214, 225 Yihaodian, 11, 89, 95–97, 194 Yinlu, 194 Yoga IdeaPad, 127 Youku Tudou, 84, 114, 158–60, 161, 162, 209, 212, 218 YouTube, 158, 218 yuan, 9 Yu’e Bao, 39, 40, 153, 212 Yu Gang, 11, 94–96, 100, 112 Yum!


pages: 410 words: 119,823

Radical Technologies: The Design of Everyday Life by Adam Greenfield

3D printing, Airbnb, algorithmic bias, algorithmic management, AlphaGo, augmented reality, autonomous vehicles, bank run, barriers to entry, basic income, bitcoin, Black Lives Matter, blockchain, Boston Dynamics, business intelligence, business process, Californian Ideology, call centre, cellular automata, centralized clearinghouse, centre right, Chuck Templeton: OpenTable:, circular economy, cloud computing, Cody Wilson, collective bargaining, combinatorial explosion, Computer Numeric Control, computer vision, Conway's Game of Life, CRISPR, cryptocurrency, David Graeber, deep learning, DeepMind, dematerialisation, digital map, disruptive innovation, distributed ledger, driverless car, drone strike, Elon Musk, Ethereum, ethereum blockchain, facts on the ground, fiat currency, fulfillment center, gentrification, global supply chain, global village, Goodhart's law, Google Glasses, Herman Kahn, Ian Bogost, IBM and the Holocaust, industrial robot, informal economy, information retrieval, Internet of things, Jacob Silverman, James Watt: steam engine, Jane Jacobs, Jeff Bezos, Jeff Hawkins, job automation, jobs below the API, John Conway, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, John Perry Barlow, John von Neumann, joint-stock company, Kevin Kelly, Kickstarter, Kiva Systems, late capitalism, Leo Hollis, license plate recognition, lifelogging, M-Pesa, Mark Zuckerberg, means of production, megacity, megastructure, minimum viable product, money: store of value / unit of account / medium of exchange, natural language processing, Network effects, New Urbanism, Nick Bostrom, Occupy movement, Oculus Rift, off-the-grid, PalmPilot, Pareto efficiency, pattern recognition, Pearl River Delta, performance metric, Peter Eisenman, Peter Thiel, planetary scale, Ponzi scheme, post scarcity, post-work, printed gun, proprietary trading, RAND corporation, recommendation engine, RFID, rolodex, Rutger Bregman, Satoshi Nakamoto, self-driving car, sentiment analysis, shareholder value, sharing economy, Shenzhen special economic zone , Sidewalk Labs, Silicon Valley, smart cities, smart contracts, social intelligence, sorting algorithm, special economic zone, speech recognition, stakhanovite, statistical model, stem cell, technoutopianism, Tesla Model S, the built environment, The Death and Life of Great American Cities, The Future of Employment, Tony Fadell, transaction costs, Uber for X, undersea cable, universal basic income, urban planning, urban sprawl, vertical integration, Vitalik Buterin, warehouse robotics, When a measure becomes a target, Whole Earth Review, WikiLeaks, women in the workforce

Whether it was designed in studios in Cupertino, Seoul or somewhere else, it is highly probable that the smartphone in your hand was assembled and prepared for shipment and sale at facilities within a few dozen kilometers of Shenzhen City, in the gritty conurbation that has sprawled across the Pearl River Delta since the Chinese government opened the Shenzhen Special Economic Zone for business in August 1980.4 These factories operate under circumstances that are troubling at best. Hours are long; the work is numbingly repetitive, produces injuries at surreal rates,5 and often involves exposure to toxic chemicals.6 Wages are low and suicide rates among the workforce are distressingly high.7 The low cost of Chinese labor, coupled to workers’ relative lack of ability to contest these conditions, is critical to the industry’s ability to assemble the components called for in each model’s bill of materials, apply a healthy markup8 and still bring it to market at an acceptable price point.

., Proceedings of Ubicomp 2005, Berlin: Springer Verlag, 2005. 3.While there had been some early thought that such interface gestures might be branded—that is, defined rigorously as sets of numeric parameters, then claimed as the intellectual property of a particular enterprise, such that no competitor could offer them as a means of interaction without first licensing them from the rights-holder—that ambition, thankfully, turned out to be legally untenable. As a result, these gestures now constitute a universal, industry-wide language of touch. John Ribeiro, “US patent office rejects claims of Apple ‘pinch to zoom’ patent,” PCWorld, July 29, 2013. 4.Ann Fenwick, “Evaluating China’s Special Economic Zones,” Berkeley Journal of International Law Volume 2, Issue 2, Fall 1984. 5.“According to a report by the Shanghai Academy of Social Sciences, each year about forty thousand fingers are either cut off or crushed in factories in the Pearl River Delta alone, mostly during assembly line operations for the export business”: Jack Linchuan Qiu, Working-Class Network Society, Cambridge, MA: MIT Press, 2009, p. 104. 6.Michael Blanding and Heather White, “How China Is Screwing Over Its Poisoned Factory Workers,” Wired, April 6, 2015. 7.Jenny Chan, “A Suicide Survivor: The Life of a Chinese Migrant Worker at Foxconn,” Truthout, August 25, 2013.

See faceblindness Protoprint, 99–100, 102 provisioning of mobile phone service, 17, 56 Průša, Josef, 105 psychogeography, 40, 51 Quantified Self movement, 33–6, 40 Radical Networks conference, 314 radio frequency identification (RFID), 200, 296 Radiohead, 35 RAND Corporation, 56–8 RATP, 5 recall, 217, 234–5 redboxing, 229–30 regtech, 157 Reich, Robert, 196 Relentless (AN and Omerod), 265 Rensi, Ed, 195 RepRap 3D printer, 86–7, 93, 104–5, 306 RER, 2, 5 Richelieu, Cardinal, 62 Rifkin, Jeremy, 88, 205, 312 RiteAid, 197 Riverton, Wyoming, 63 Royal Dutch Shell Long-Term Studies Group, 287 Samsung, 285–6 Sandvig, Christian, 252 “Satoshi Nakamoto,” 115, 118, 147, 303 scenario planning, 287 Schneier, Bruce, 45, 243 Scott, James C., 311 SCUM Manifesto (Valerie Solanas), 191 Seoul, 6, 18, 54, 264–5, 284 Metro, 54 Sennett, Richard, 111 sentiment analysis, 198 Serra, Richard, 70 SHA–256 hashing algorithm, 123 Shenzhen Special Economic Zone, 18–19, 43 Shodan search engine, 43 Shoreditch, London neighborhood, 136 Shteyngart, Gary, 246 Sidewalk Labs. See Google Siemens, 52–4, 56 Silk Road exchange, 131 Silver, David, 265 Simone, Nina, 261 Sipilä, Juha, 204 Sirer, Emin Gün, 178 Siri virtual assistant, 39 Situationism, 64, 190 Slock.it, 156, 170, 175–6 slow jam (music genre), 221 Slum– and Shackdwellers International, 169 smart city, 33, 48, 52, 52, 55, 59 smart contracts, 115, 147, 150, 153–7, 163, 166, 168, 170, 172, 306 smart home, 33, 36, 38, 46, 48 smartphone, 3, 8–33, 38, 49, 64, 67, 72, 77, 133, 137, 273, 285–6, 313 as “network organ,” 27–9 as platform for augmented reality, 67, 72 as platform for financial transactions, 133, 137 environmental implications of, 18–19 incompleteness at time of purchase, 17 teardown of, 14–16 ubiquity of, 313 smart property, 149–53 Smith, Zachary, 103, 105 Snæfellsjökull glacier, 83 Snaptrends, 227–8, 231, 254 Sobibor, 61 social credit, 285, 311 social dividend, 204 social media, 26, 192, 227–8, 276, 286 Sociometric Solutions, 197 Solanas, Valerie, 191 South Sea Company, the, 165 Soylent nutrient slurry, 35 SpatialKey, 227 Spielberg, Steven, 227 Spivak, Gayatri Chakravorty, 311 Srnicek, Nick, 88, 90–1, 111, 190, 203, 205, 303 Stacks, 275, 277, 280–1, 283–6, 292–5, 299, 313–14 Stanford Dogs Dataset, 219 Stanford University, 283 startups, 13, 118, 137, 145–6, 280–2, 286 Stavrides, Stavros, 173 Sterling, Bruce, 275 Stolpersteine, 72, 74 Stratasys, 103–4, 108 Summers, Larry, 201 Super Sad True Love Story (Shteyngart), 246 Superstudio, 191 supervised learning, 216 SWaCH wastepickers’ collective, 98–9 Swedish death metal (music genre), 221 SweepTheStreets, 170 Szabo, Nick, 150, 303, 306 Target (retail chain), 196 Taylor, Frederick, 35 Taylor, Simon, 160 technolibertarians, 140, 150, 283 Tencent, 285 Tešanovic, Jasmina, 62 Tesla, 166, 193, 222–5, 243, 254, 264, 270, 285 Autopilot feature, 222–5, 243, 254, 256, 270 Model S, 222–4 Model X, 222 operating system 7.0, 222 tetrapods, 301–7 Theatro, 196–7 Theory of Self–Reproducing Automata (Neumann), 86 “Theses on Feuerbach” (Marx), 305 Thiel, Peter, 148 Thingiverse, 103, 105 Tide laundry detergent, 46–47 Topography of Terror, Berlin museum, 70 touchscreen, 15–16, 38, 43, 194 travel-to-crime, 231 Tual, Stephan, 170 Twitter, 51, 137, 268 Uber, 4, 40, 41, 193, 245, 270, 276, 285, 293 driverless cars, 193, 270 Ultimaker 3D printer, 88, 101, 104, 295 United States Constitution, 230, 235 universal basic income, UBI, 203–5, 288, 292, 294 universal constructor, 86 Universal Declaration of Human Rights, 91 University College London, 85 unnecessariat, 181, 206, 297 unsupervised deep learning, 220 Urban Dynamics (Forrester), 56 Utrecht, 204 value network, 264 van Rijn, Rembrandt Harmenszoon, 262 Vélib, 2 Velvet Underground, the, 228 Venezuelan bolívar, 122 Venmo, 41 Verlan, 311 Virginia Company, the, 165 virtual assistants, 38, 41–2, 286 virtual reality, 65, 82–3, 275, 296 Visa, 120, 136, 159 Vitality, 36 Vkontakte, 241 von Furstenberg, Diane, 84 von Neumann, John, 86 “wake word,” interface command, 41 Washington State, 192 Waterloo University, 148 Watt, James, 104 Wendy’s, 197 Wernick, Miles, 233 Westegren, Tim, 220 Western Union, 120 WhatsApp, 281 Whole Earth Review (magazine), 34 WiFi, 11, 17, 25, 46, 66 Wiggins, Shayla, 63–5 WikiLeaks, 120, 137 Williams, Alex, 190, 203 Williams, Raymond, 315 Wilson, Cody, 108, 111 Winograd Schema, 270 The Wire (TV series), 54 Wired (magazine), 34 Wolf, Gary, 34 World Bank, 133 World Economic Forum, 194 Yahoo, 219 yamato–damashii, 267 Yaskawa Motoman MH24 industrial robot, 266 yuan (currency), 135 Zamfir, Vlad, 177 Zen Buddhism, 34, 284 ZeroBlock application, 131 The Zero Marginal Cost Society (Rifkin), 88, 205


World Cities and Nation States by Greg Clark, Tim Moonen

active transport: walking or cycling, Asian financial crisis, Berlin Wall, Big bang: deregulation of the City of London, Boris Johnson, business climate, clean tech, congestion charging, corporate governance, Crossrail, deindustrialization, Deng Xiaoping, driverless car, financial independence, financial intermediation, Francis Fukuyama: the end of history, full employment, gentrification, global supply chain, global value chain, high net worth, high-speed rail, housing crisis, immigration reform, income inequality, informal economy, Kickstarter, knowledge economy, low skilled workers, managed futures, megacity, megaproject, new economy, New Urbanism, Norman Mailer, open economy, Pearl River Delta, rent control, Richard Florida, Shenzhen special economic zone , Silicon Valley, smart cities, sovereign wealth fund, special economic zone, stem cell, supply-chain management, tacit knowledge, The Wealth of Nations by Adam Smith, trade route, transaction costs, transit-oriented development, upwardly mobile, urban planning, urban renewal, urban sprawl, War on Poverty, zero-sum game

Hot Spots: Benchmarking Global City Competitiveness. London: The Economist. Available at http://www.economistinsights.com/sites/default/files/downloads/Hot%20Spots. pdf. Accessed 2016 Jan 19. Foster, M. (2015). Is Japan losing focus on special economic zones?. Japan Today. Available at www.japantoday.com/category/business/view/is‐japan‐losing‐focus‐on‐special‐economic‐ zones. Accessed 2015 Feb 8. Fujita, K. (2011). Financial Crises, Japan’s state regime shift, and Tokyo’s urban policy. Environment and Planning A, 43: 307–327. Fujita, K. (2015). The landscape of Tokyo power. International Journal of Urban Sciences, 19(1): 82–92.

Hong Kong’s Hong Kong 155 relationships with London and New York continue to be important ingredients of its global embeddedness. Economic integration began to accelerate in the 1980s with the opening up of the mainland economy. The lifting of the moratorium on foreign banks in 1978 and the opening of the Shenzhen Special Economic Zone in 1980 effectively triggered a new phase in Hong Kong’s evolution. The city’s industrial base relocated to the neighbouring PRD region for cost reasons. The new access to a large workforce in growing cities such as Shenzhen and Guangzhou meant that Hong Kong was able to manage and finance a huge number of manufacturing joint ventures.


pages: 603 words: 182,781

Aerotropolis by John D. Kasarda, Greg Lindsay

3D printing, air freight, airline deregulation, airport security, Akira Okazaki, Alvin Toffler, An Inconvenient Truth, Asian financial crisis, back-to-the-land, barriers to entry, Bear Stearns, Berlin Wall, big-box store, blood diamond, Boeing 747, book value, borderless world, Boris Johnson, British Empire, business cycle, call centre, carbon footprint, Cesare Marchetti: Marchetti’s constant, Charles Lindbergh, Clayton Christensen, clean tech, cognitive dissonance, commoditize, company town, conceptual framework, credit crunch, David Brooks, David Ricardo: comparative advantage, Deng Xiaoping, deskilling, digital map, disruptive innovation, Dr. Strangelove, Dutch auction, Easter island, edge city, Edward Glaeser, Eyjafjallajökull, failed state, financial engineering, flag carrier, flying shuttle, food miles, Ford Model T, Ford paid five dollars a day, Frank Gehry, fudge factor, fulfillment center, full employment, future of work, Future Shock, General Motors Futurama, gentleman farmer, gentrification, Geoffrey West, Santa Fe Institute, George Gilder, global supply chain, global village, gravity well, Great Leap Forward, Haber-Bosch Process, Hernando de Soto, high-speed rail, hive mind, if you build it, they will come, illegal immigration, inflight wifi, intangible asset, interchangeable parts, Intergovernmental Panel on Climate Change (IPCC), intermodal, invention of the telephone, inventory management, invisible hand, Jane Jacobs, Jeff Bezos, Jevons paradox, Joan Didion, Kangaroo Route, Kickstarter, Kiva Systems, knowledge worker, kremlinology, land bank, Lewis Mumford, low cost airline, Marchetti’s constant, Marshall McLuhan, Masdar, mass immigration, McMansion, megacity, megaproject, Menlo Park, microcredit, military-industrial complex, Network effects, New Economic Geography, new economy, New Urbanism, oil shale / tar sands, oil shock, One Laptop per Child (OLPC), peak oil, Pearl River Delta, Peter Calthorpe, Peter Thiel, pets.com, pink-collar, planned obsolescence, pre–internet, RFID, Richard Florida, Ronald Coase, Ronald Reagan, Rubik’s Cube, savings glut, Seaside, Florida, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, SimCity, Skype, smart cities, smart grid, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, spinning jenny, starchitect, stem cell, Steve Jobs, Suez canal 1869, sunk-cost fallacy, supply-chain management, sustainable-tourism, tech worker, telepresence, the built environment, The Chicago School, The Death and Life of Great American Cities, the long tail, The Nature of the Firm, thinkpad, Thomas L Friedman, Thomas Malthus, Tony Hsieh, trade route, transcontinental railway, transit-oriented development, traveling salesman, trickle-down economics, upwardly mobile, urban planning, urban renewal, urban sprawl, vertical integration, Virgin Galactic, walkable city, warehouse robotics, white flight, white picket fence, Yogi Berra, zero-sum game

Both stories begin in Shenzhen. Liam Casey arrived in 1996, a few years after paramount leader Deng Xiaoping declared “to get rich is glorious” while passing through the city on his farewell tour. Deng is the father of Shenzhen, having chosen this sleepy fishing village as the first of China’s “special economic zones” in 1980. Foreign firms were invited to open shop here with few constraints or taxes, triggering the transformation of the Pearl River Delta into “the factory of the world” and Shenzhen into the “Overnight City,” having grown two-hundred-fold since then. While Shanghai’s Blade Runner landscape symbolizes China’s future, Shenzhen is the template for its instant cities.

The roles have been cast. Shanghai will replace it as China’s financial hub (a plan ratified in 2010), while “Guangzhou will be developed into the ‘Best District’” as “an international metropolis that embraces the world and serves the whole country. Shenzhen will continue to play its role as the window of the special economic zones” and fulfill its destiny as “a city exemplifying socialism with Chinese characteristics.” But the Overnight City and Hong Kong had other ideas. The morning I arrived in Kowloon, its citizens were shocked to learn that their government was plotting an outright merger with Shenzhen. A think tank backed by the city’s chief executive had concluded Hong Kong was barely punching above its weight.

(Ironically, Adelson’s desperate lieutenants in Vegas have taken to importing Chinese high rollers—the last whales still gambling—aboard private jumbo jets outfitted with baccarat tables to while away the fourteen-hour flights. Winnings above international waters are tax free.) Bordering Macau to the north is Zhuhai, the younger brother of Shenzhen. Founded around another special economic zone, the city never really took off by China’s standards, topping out at about the size of Philadelphia. But it was blessed with an airport that was a tabula rasa, gleaming and empty. Victor Sit brought it to John Kasarda’s attention more than a decade ago, inspiring him to recycle the blueprints of the Global TransPark.


pages: 251 words: 76,868

How to Run the World: Charting a Course to the Next Renaissance by Parag Khanna

"World Economic Forum" Davos, Albert Einstein, Asian financial crisis, back-to-the-land, bank run, blood diamond, Bob Geldof, borderless world, BRICs, British Empire, call centre, carbon footprint, carbon tax, charter city, clean tech, clean water, cloud computing, commoditize, congestion pricing, continuation of politics by other means, corporate governance, corporate social responsibility, Deng Xiaoping, Doha Development Round, don't be evil, double entry bookkeeping, energy security, European colonialism, export processing zone, facts on the ground, failed state, financial engineering, friendly fire, global village, Global Witness, Google Earth, high net worth, high-speed rail, index fund, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Kickstarter, Kiva Systems, laissez-faire capitalism, Live Aid, Masdar, mass immigration, megacity, Michael Shellenberger, microcredit, military-industrial complex, mutually assured destruction, Naomi Klein, Nelson Mandela, New Urbanism, no-fly zone, off grid, offshore financial centre, oil shock, One Laptop per Child (OLPC), open economy, out of africa, Parag Khanna, private military company, Productivity paradox, race to the bottom, RAND corporation, reserve currency, Salesforce, Silicon Valley, smart grid, South China Sea, sovereign wealth fund, special economic zone, sustainable-tourism, Ted Nordhaus, The Fortune at the Bottom of the Pyramid, The Wisdom of Crowds, too big to fail, trade liberalization, trickle-down economics, UNCLOS, uranium enrichment, Washington Consensus, X Prize

With its network of thousands of reporters worldwide pumping data into proprietary terminals, Bloomberg is not only a media company that operationally dwarfs The New York Times and Financial Times put together, it is also effectively the world’s largest private intelligence service with super-filters that allow clients to cull from thousands of sources. All over the world, private equity funds are taking stakes in farmland, gold, and other resources in exchange for building basic services and serving as friendly intermediaries with Western governments. The writ of the state has become at best hybrid sovereignty over supply chains, special economic zones, and reconstruction projects. Governments can attempt to monitor or regulate corporations, but they cannot control them. At the same time, “corporate citizenship,” once an oxymoron, is now a cliché. Today the willingness to build an airport or develop a medicine comes as much or more from companies who view these as necessary for their markets and consumers as from governments.

The sensational allure of Gulf sheikhdoms, built on the back of third world Asian labor, has also perversely made their medieval stratification and hierarchy among citizens and foreigners acceptable to the world. Whether Riyadh, Doha, Abu Dhabi, Manama, Dubai—or any combination of them—becomes the economic engine of the Arab world, their success has inspired imitators to recognize the virtues of free trade, foreign investment, and lean bureaucracy. Special economic zones are popping up from North Africa to Southeast Asia, promoting their ironclad public-private synergy. The rival ports of Chabahar in Iran and Gwadar in Pakistan jockey to be called the “gateway to central Asia,” while Tangier and Tunis contend to be North Africa’s primary port of passage to Europe.


pages: 248 words: 73,689

Age of the City: Why Our Future Will Be Won or Lost Together by Ian Goldin, Tom Lee-Devlin

15-minute city, 1960s counterculture, agricultural Revolution, Alvin Toffler, Anthropocene, anti-globalists, Berlin Wall, Bonfire of the Vanities, Brixton riot, call centre, car-free, carbon footprint, Cass Sunstein, charter city, Chuck Templeton: OpenTable:, clean water, cloud computing, congestion charging, contact tracing, coronavirus, COVID-19, CRISPR, data science, David Brooks, David Ricardo: comparative advantage, decarbonisation, deindustrialization, Deng Xiaoping, desegregation, Edward Glaeser, Edward Jenner, Enrique Peñalosa, fake news, Fall of the Berlin Wall, financial engineering, financial independence, future of work, General Motors Futurama, gentrification, germ theory of disease, global pandemic, global supply chain, global village, Haight Ashbury, Hernando de Soto, high-speed rail, household responsibility system, housing crisis, Howard Rheingold, income per capita, Induced demand, industrial robot, informal economy, invention of the printing press, invention of the wheel, Jane Jacobs, Jeff Bezos, job automation, John Perry Barlow, John Snow's cholera map, Kickstarter, knowledge economy, knowledge worker, labour mobility, Lewis Mumford, lockdown, Louis Pasteur, low interest rates, low skilled workers, manufacturing employment, Marshall McLuhan, mass immigration, megacity, Neal Stephenson, Network effects, New Urbanism, offshore financial centre, open borders, open economy, Pearl River Delta, race to the bottom, Ray Oldenburg, remote working, rent control, Republic of Letters, Richard Florida, ride hailing / ride sharing, rising living standards, Salesforce, Shenzhen special economic zone , smart cities, smart meter, Snow Crash, social distancing, special economic zone, spinning jenny, Steve Jobs, Stewart Brand, superstar cities, the built environment, The Death and Life of Great American Cities, The Great Good Place, The Wealth of Nations by Adam Smith, trade liberalization, trade route, Upton Sinclair, uranium enrichment, urban decay, urban planning, urban sprawl, Victor Gruen, white flight, working poor, working-age population, zero-sum game, zoonotic diseases

First for reform was agriculture, where land was decollectivized and the ‘Household Responsibility System’ was introduced, shifting responsibility for profits and losses back to farmers. This set the foundations for a rapid acceleration in improvements in cereal yields, as farmers became incentivized to adopt more efficient practices. Next was industry. Rather than opening the economy to foreign influence all at once, the Chinese leadership established ‘Special Economic Zones’ in four coastal cities – Shenzhen, Shantou, Zhuhai and Xiamen – in which foreign multinationals were offered tax incentives and a more business-friendly operating environment in exchange for establishing export manufacturing facilities. The rapid success of these early experiments led to the designation of a raft of ‘Open Coastal Cities’ in 1984 that integrated China into global supply chains.

Index abortion here abstract mathematics here Achaemenid Empire here Adani, Gautam here agglomeration effects here agriculture here, here, here, here, here, here, here, here, here and carbon emissions here and disease here, here productivity here, here vertical farming here Ahmedabad here air-conditioning here, here airports here, here, here, here Albuquerque here Alexandria here Allen, Paul here Allen, Thomas here Altrincham here Amazon here, here, here Amazon rainforest here Amsterdam here Anatolia here Anderson, Benedict here Anheuser-Busch here antibiotics here, here, here Antonine Plague here Anyang here apartment conversions here, here Apple here, here, here Aristotle here Arizona State University here Arlington here Assyrian merchants here Athens, Ancient here, here, here, here, here, here Atlanta here, here Austin here, here, here automation here, here, here, here, here, here, here, here axial precession here Baghdad, House of Wisdom here Baltimore here, here Bangalore here, here Bangkok here Bangladesh here, here, here, here Barlow, John Perry here Bauhaus here Beijing here, here Belmar redevelopment here Berkes, Enrico here Berlin here, here, here Berlin Wall, fall of here Bezos, Jeff here biological weapons here ‘biophilia’ here biospheres here bird flu here Birmingham here, here Black Death here, here, here Blake, William here Bloom, Nick here BMW here ‘bobo’ (bourgeois bohemian) here, here, here Boccaccio, Giovanni here Boeing here, here, here Bogota here Bologna here Bonfire of the Vanities here Borneo here Boston here, here, here Boston University here, here Brand, Stewart here Brazil here, here Brexit here, here, here Bristol here Britain broadcasting here deindustrialization here education here enclosure movement here foreign aid here high-speed rail here, here house prices here immigration here industrialization here, here infant mortality here ‘levelling up’ here life expectancy here mayoralties here per capita emissions here per capita incomes here remote working here social housing here Brixton riots here broadcasting here Bronze Age here, here, here, here bronze, and shift to iron here Brooks, David here Brynjolfsson, Eric here Burgess, Ernest here bushmeat here, here Byzantine Empire, fall of here Cairncross, Frances here Cairo here calendar, invention of here Cambridge, Massachusetts here Cambridge University here canals here, here, here ‘cancel culture’ here Cape Town here Catholic Church here C40 Cities partnership here Chadwick, Edwin here Chang’an (Xi’an) here, here, here, here Charles, Prince of Wales here charter cities here Chengdu here Chiba here Chicago here, here, here, here, here, here, here, here childbirth, average age at here childcare here, here, here, here, here China here ancient here, here, here, here call-centre workers here cereal production here civil strife here and Covid-19 pandemic here Cultural Revolution here definition of cities here economic liberalization here entry into WTO here Household Responsibility System here hukou system here One Child Policy here Open Coastal Cities here per capita emissions here rapid ageing here Special Economic Zones here technology here urbanization here China Towns here Chinese Communist Party here cholera here, here, here, here Chongqing here cities, definition of here Citigroup here city networks here civil wars here Cleveland here, here, here, here climate change here, here, here, here, here, here, here, here, here, here coastal cities here, here, here, here commuting here, here, here, here, here, here, here, here Concentric Zone Model here Confucius here conspiracy theories here Constantinople here, here containerization here, here Copenhagen here, here Corinth here Cornwall here corruption here Coventry here, here covid-19 see pandemics crime rates here ‘cyberbalkanization’ here cycling here, here, here, here Damascus here Dark Ages here, here data science here de Soto, Hernando here deforestation here, here, here, here Delhi here Dell here Delphic oracle here democracy here, here, here Democratic Republic of Congo here, here, here, here, here, here Deng Xiaoping here dengue fever here Denmark here, here Detroit here, here, here, here, here, here, here Dhaka here, here, here, here, here Dharavi here Diana, Princess of Wales here diasporas here, here Dickens, Charles here district heating systems here Dresden here drought here, here, here, here, here, here, here Drucker, Peter here dual-income households here, here Dubai here, here, here Dunbar, Kevin here Düsseldorf here East Antarctic ice sheet here East China Sea here, here Easterly, William here Eastern Mediterranean here, here, here Ebola here Edinburgh here education here, here, here, here, here, here, here, here, here, here, here, here, here, here higher education here, here, here, here; see also universities Japanese school system here Egypt here, here Ancient here, here, here, here Ehrenhalt, Alan here electric vehicles (EVs) here Engels, Friedrich here Enlightenment here Epic of Gilgamesh here Erfurt here Ethiopia here, here Euripides here European Enlightenment here exchange rates here Facebook here, here, here fake news here famine here, here fertility rates here, here, here ‘15-minute city’ principle here Fischer, Claude here Fleming, Alexander here flooding here, here, here, here, here, here, here Florida, Richard here, here food shortages here Ford, Henry here, here foreign aid here fossil fuels here, here France here, here, here, here, here, here, here, here, here, here, here Frankfurt here Franklin, Benjamin here Friedman, Thomas here, here Fryer, Roland here Fukuoka here, here Gaetani, Ruben here Galileo Galilei here Ganges River here Garden Cities here Garden of Eden here Gates, Bill here, here gay community here General Electric here General Motors here genetic engineering here gentrification here, here, here, here, here George, Andy here Germany here, here, here, here, here, here Gingrich, Newt here glaciers here Glasgow here Glass, Ruth here global financial crisis here, here, here global population, size of here globalization here, here, here, here, here, here, here, here, here, here Goldstein, Amy here Google here, here, here Goos, Maarten here Grant, Adam here Great Depression here, here Greece, Ancient here, here, here, here, here Griffith Observatory here Gropius, Walter here Gruen, Victor here Gulf Stream here Haiti here Hamburg here Hanseatic League here, here Harappa here, here Harry, Prince here Harvard University here hate speech here Haussmann, Baron here, here Hawaii here Hazlitt, William here healthcare here, here, here, here, here, here, here, here, here, here heatwaves here, here Hebei here Heckscher, Eli here Herodotus here Himalayas here Hippocrates here Hippodamus here Hittite Empire here HIV here, here Ho Chi Minh City here Holocene here, here, here homophily here Hong Kong here house prices here, here, here, here, here, here, here Houston here, here, here Howard, Ebenezer here Hudson River here Hugo, Victor here Hume, David here Hurricane Katrina here hybrid working, see remote and hybrid working ice melting here, here import substitution industrialization here InBev here India here, here, here, here, here, here, here, here, here fertility rates here Indonesia here, here Indus River here Indus Valley here, here, here inequality here, here, here, here, here, here, here, here, here, here, here infant and child mortality here, here, here, here influenza here, here, here ‘information cocoons’ here Instagram here internet here, here, here, here, here, here invention here, here, here, here, here, here, here, here, here, here irrigation here, here, here, here Italy here Jacobs, Jane here, here, here Jakarta here, here James, Sheila here Japan here, here, here, here, here, here, here, here, here post-war development here schooling system here Jenner, Edward here Jesus Christ here Jobs, Steve here jobs apprenticeships here ‘lousy’ and ‘lovely’ here tradeable and non-tradeable here Justinian Plague here Kashmir here Kenya here Kinshasa here, here Kish here knowledge workers here, here, here, here, here, here, here, here, here, here, here, here Koch, Robert here Kolkata here Korean War here Krugman, Paul here Kushim Tablet here Lagash here Lagos here, here, here, here, here, here, here Lahore here land titling programmes here Las Vegas here Latin language here Lee Kuan Yew here, here Leeds here, here Leicester here Leipzig here, here, here, here Letchworth here life expectancy here, here, here, here, here, here Liverpool here, here Ljubljana here London here, here, here, here, here, here, here bike lanes here Canary Wharf here, here Chelsea here, here, here China Town here cholera outbreaks here City of London here, here coffeehouses here and Covid-19 pandemic here financial services here gentrification here, here, here Great Stink here, here heatwaves here, here house prices here, here hybrid working here, here immigration here, here incomes here, here mayoralty here migration into inner London here population growth here, here, here poverty here, here public transport here, here, here slum housing here social housing here suburbanization here Los Angeles here, here, here, here Louisville here Luoyang here Luther, Martin here Luton Airport here Luxembourg here, here Lyon here McDonald’s here McDonnell Douglas here McLuhan, Marshall here Madagascar here malaria here, here, here, here Malaysia here Mali here malls, reinvention of here Manchester here, here, here, here, here, here, here Manila here Manning, Alan here Markle, Meghan here marriage here Marshall, Alfred here Marshall, Tim here Marx, Karl here Maya here, here measles here, here, here Meetup here mega regions here Mekong River here Memphis, Egypt here, here Mesoamerica here, here Mesopotamia here, here, here metallurgy here metaverse here methane here, here Mexico here Miami here, here, here microbiology here Microsoft here, here, here middle class, rise of here migration policy here millennial generation here Milwaukee here, here Minoan civilization here Mistry, Rohinton here MIT here MMR vaccine here ‘modernization’ theory here Mohenjo-Daro here, here Moretti, Enrico here, here mortality rates here, here, here, here, here, here, here, here, here, here, here, here motor car, invention of here Moynihan, Daniel here Mumbai here, here Mumford, Lewis here, here, here, here Munich here, here Mycenaean civilization here Nagoya here, here Nairobi here Nashville here National Landing, Arlington here Natural History Museum here natural resource exports here Nestlé here Netherlands here network effects here New Economics Foundation here New Orleans here, here New York here, here, here, here, here, here, here, here, here, here carbon emissions here and Covid-19 pandemic here gentrification here, here housing here, here, here incomes here, here Manhattan here, here, here, here, here population growth here, here and rising sea levels here slum housing here suburbanization here, here subway here waste and recycling here New York Central Railroad here New York World Fair here Newcastle here Nextdoor here Niger here Nigeria here, here, here, here Nilles, Jack here, here Nipah virus here Norway here, here Nottingham here Novgorod here ocean and air circulation here office rental and sales prices here Ohlin, Bertil here Oldenburg, Ray here online deliveries here OpenTable here Osaka here, here Oslo here Ottoman Empire here Oxford, population of here Oxford University here Pacific Belt Zone here Padua here Pakistan here, here, here pandemics here, here, here, here, here, here, here, here, here, here, here, here, here, here and zoonotic diseases here paramyxovirus here Paris here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here Paris Conference (2015) here Park Chung-hee, General here parks here Pasteur, Louis here Pearl River Delta here, here Peñalosa, Enrique here per capita income here Philadelphia here Philippines here, here Phoenix here, here Pixar here plague here, here, here, here Plato here plough, invention of here pollution here, here, here, here air pollution here, here, here, here population growth here, here, here, here, here, here, here, here PORTL here potter’s wheel, invention of here printing press here, here productivity here, here, here, here, here agricultural here, here Protestantism, rise of here public transport here, here, here, here, here, here, here, here, here, here, here, here, here, here Putnam, Robert here, here quarantine here railways here, here, here, here, here high-speed rail here, here, here Ralston Purina here Reagan, Ronald here recycling here, here religion here remote and hybrid working here, here, here, here Renaissance Florence here, here, here renewable energy here, here Republic of Letters here République des Hyper Voisins here ‘resource curse’ here Rheingold, Howard here Ricardo, David here Rio de Janeiro here Riverside, San Francisco here robotics here Rockefeller, John D. here Roman Empire here, here, here Rome, Ancient here, here, here, here, here, here Romer, Paul here Rotterdam here Rousseau, Jean-Jacques here, here Sahel here, here sailboat, invention of here St Augustine here St Louis here, here, here Salesforce here San Diego here San Francisco here, here, here, here, here, here, here, here, here, here, here gentrification here, here hybrid working here, here San Francisco Bay Area here, here, here Santa Fe here São Paulo here Savonarola, Girolamo here Scientific American here Scott, Emmett J. here sea levels, rising here, here, here Seattle here, here, here, here, here, here Second Opium War here Seneca here Seoul here Shanghai here, here, here, here, here Shantou here Sheffield here, here, here Shen Nung here Shenzhen here, here Siemens here Silk Roads here, here Sinclair, Upton here Singapore here, here, here, here Slater, Samuel here smallpox here, here Smith, Adam here, here Snow, John here social capital here social housing here, here social media here, here, here, here, here Socrates here solar panels here South Africa here South Korea here, here, here, here, here, here Southdale Center here specialization here, here, here, here, here, here Spengler, Oswald here Starbucks here Stephenson, Neal here Stewart, General William here Stuttgart here Sub-Saharan Africa here subsidiarity principle here suburbanization here, here, here, here, here, here, here, here, here Sunstein, Cass here Sweden here, here Sydney here, here, here, here, here, here Syrian refugees here, here Taiwan here Tanzania here telegraph here Tempest, Kae here Thailand here Thames River here, here Thatcher, Margaret here, here, here ‘third places’ here Tianjin here Tocqueville, Alexis de here Toffler, Alvin here Tokyo here, here, here, here trade liberalization here trade routes here Trump, Donald here, here tuberculosis here, here, here Twain, Mark here Twitter here, here typhoid here, here typhus here, here Uber here Uganda here Ukraine here, here Umayyad Caliphate here unemployment here, here United Nations here, here United States anti-global populism here anti-trust regulation and industrial consolidation here anxiety and depression here broadcasting here car registrations here cost of education here decline in trust here deindustrialization here Gilded Age here Great Migration here house prices here, here immigration here industrialization here inequality here labour mobility here ‘magnet schools’ here parking spaces here patent filings here per capita emissions here, here per capita incomes here remote working here, here, here return on equity here Rust Belt here schools funding here slavery here socioeconomic mobility here suburbanization here tax revenues here US Federal Housing Authority here US General Social Survey here US Trade Adjustment Assistance Program here universities here, here, here University College London here University of Texas here university-educated professionals here Ur here urban heat island effect here urbanism, subcultural theory of here Uruk here, here, here, here, here vaccines here, here Van Alstyne, Marshall here Vancouver here Venice here, here Vienna here, here Vietnam here voluntary associations here, here Wakefield, Andrew here walking here, here, here Wall Street here Warwick University here Washington University here WELL, The here Welwyn Garden City here wheel, invention of here wildfires here, here William the Conqueror here Wilson, Edward Osborne here, here Wilson, William here World Bank here, here World Health organization here World Trade Organization here World Wide Web here writing, invention of here Wuhan here, here Xiamen here Yangtze River here, here Yangtze River Delta here yellow fever here Yellow River here, here Yersinia pestis here Yokohama here YouTube here, here Yu the Great here Zhuhai here Zoom here Zoroastrianism here BLOOMSBURY CONTINUUM Bloomsbury Publishing Plc 50 Bedford Square, London, WC1B 3DP, UK 29 Earlsfort Terrace, Dublin 2, Ireland BLOOMSBURY, BLOOMSBURY CONTINUUM and the Diana logo are trademarks of Bloomsbury Publishing Plc This electronic edition first published in Great Britain 2023 Copyright © Ian Goldin and Tom Lee-Devlin 2023 Ian Goldin and Tom Lee-Devlin have asserted their right under the Copyright, Designs and Patents Act, 1988, to be identified as Authors of this work All rights reserved.


pages: 442 words: 130,526

The Billionaire Raj: A Journey Through India's New Gilded Age by James Crabtree

"World Economic Forum" Davos, accounting loophole / creative accounting, Asian financial crisis, behavioural economics, Big bang: deregulation of the City of London, Branko Milanovic, business climate, call centre, Capital in the Twenty-First Century by Thomas Piketty, centre right, colonial rule, commodity super cycle, Cornelius Vanderbilt, corporate raider, creative destruction, crony capitalism, Daniel Kahneman / Amos Tversky, Deng Xiaoping, Donald Trump, facts on the ground, failed state, fake news, Francis Fukuyama: the end of history, global supply chain, Gunnar Myrdal, income inequality, informal economy, Joseph Schumpeter, land bank, liberal capitalism, Mahatma Gandhi, McMansion, megacity, Meghnad Desai, middle-income trap, New Urbanism, offshore financial centre, open economy, Parag Khanna, Pearl River Delta, plutocrats, Ponzi scheme, post-truth, public intellectual, quantitative easing, rent-seeking, Rubik’s Cube, Shenzhen special economic zone , Silicon Valley, Simon Kuznets, smart cities, special economic zone, spectrum auction, tech billionaire, The Great Moderation, Thomas L Friedman, transaction costs, trickle-down economics, vertical integration, Washington Consensus, WikiLeaks, yellow journalism, young professional

The surrounding area was little more than scrubland before Adani, at the time merely an ambitious local businessman, got his hands on it about a decade earlier. Now it was the crown jewel of his business operations, including India’s largest private port, a giant coal-fired power station and a sprawling special economic zone spread out over more than 30 square miles. Reaching the port took eight bumpy hours by road, the pilot told me, looking over his shoulder and yelling over the noise of the engines. In the twin-engine eight-seater we touched down in less than one. Adani’s own background was modest. A college dropout from a middle-class family of textile merchants, he began his career in Mumbai’s diamond markets before returning home to Gujarat to work in a small plastics factory run by one of his brothers.

But this did little to stop critics attacking a perceived coziness between the politician who so often railed against crony capitalism and the tycoon whose businesses had blossomed on his watch. There was controversy too about the large expanse of land onto which our plane touched down an hour later, at an airfield built by Adani’s company. A sign in purple letters above the terminal read: “Welcome to Adani Ports and SEZ.” India had begun developing special economic zones—or SEZs for short—during the 2000s, inspired by the trade-friendly enclave set up in Shenzhen by Communist Party leader Deng Xiaoping in 1980, whose exporting industries helped to kick off China’s own economic transformation. Most of the Indian zones flopped, although Adani’s did better, a fact its owner put down to canny management.7 Critics, including Congress leader Rahul Gandhi—Sonia Gandhi’s son, and the latest in the Nehru–Gandhi dynasty to lead his party—pointed to different factors.

(His zone secured its various clearances in 2014.)57 A further set of allegations were then made by Paranjoy Guha Thakurta, during his time as editor of the Economic and Political Weekly. In 2017 Guha Thakurta published a number of articles claiming that Adani’s companies had received special treatment on Modi’s watch. One argued the government “tweaked” rules covering special economic zones, allowing Adani to enjoy a tax windfall.58 Another said the government failed to follow through on a tax department investigation into Adani’s trading of gold and diamonds.59 Adani’s company denied wrongdoing and sent a notice claiming defamation to the magazine over the first article, which the magazine subsequently removed from its website.


pages: 277 words: 85,191

Red Roulette: An Insider's Story of Wealth, Power, Corruption, and Vengeance in Today's China by Desmond Shum

Asian financial crisis, call centre, currency manipulation / currency intervention, Deng Xiaoping, Donald Trump, family office, glass ceiling, Gordon Gekko, Great Leap Forward, greed is good, high-speed rail, Korean Air Lines Flight 007, land reform, military-industrial complex, old-boy network, pirate software, plutocrats, race to the bottom, rolodex, Silicon Valley, SoftBank, South China Sea, special economic zone, walking around money, WikiLeaks

Xi brought his second wife, Peng Liyuan, a glamorous singer from the People’s Liberation Army who specialized in syrupy patriotic ballads, somewhat akin in star power wattage to American country music phenom Dolly Parton. Xi was the son of the Communist revolutionary Xi Zhongxun, a member of China’s red aristocracy. Xi’s father had been a prominent ally of Deng Xiaoping and was one of the key figures in masterminding the Special Economic Zones in the 1980s that lay the foundation for China’s export boom. Xi Jinping had spent seventeen years working at various government and Party posts in Fujian Province. Although he’d been there when a massive smuggling scandal had unfolded, he hadn’t been implicated. Xi had also held top Party posts in Zhejiang Province, one of the engines of China’s private economy.

., 42, 93 Carlyle Group, 93 Carnegie, Dale, 63 Chen Liangyu, 202 Chen Shui-bian, 170 Chen Tonghai, 197 Chen Weida, 197 Chen Xi, 183–87, 252, 253, 259 Chen Xitong, 56–57 Chen Yun, 239–40 Chen Zuo’er, 247 Chiang Kai-shek, 6, 46, 240 China airport construction boom, 137 average height for men in, 27 capitalism and entrepreneurship in, 50, 169–70, 171, 180, 182, 189, 192, 194, 196, 197, 201, 282, 283 CCP control of all non-Communist elements in society, 205, 208 censorship in, 237 charities in, 182 Christianity in, 71, 182 “common good” fantasy of, 282–83 concept of “face,” 28, 109–10, 212 constitution of, 2 consumption boom, 2000s, 161 consumer goods in, 57 crackdown on Western ideas, 195–97 “Crazy rich Asians” in, 161 democracy and, 86–87, 94, 169–70, 189, 194, 283 Deng and reforms, 18, 45, 55, 170, 216, 251, 283 doing business in, 46, 47, 112–13, 194 (see also Shum, Desmond) economic growth, 45, 51, 55–57, 113, 124, 171–72 economic system of state control, 132, 141 emigration from, mid-1990s, 59–60 exporting its system overseas, 282 extralegal kidnappings in, 2, 254–55, 280, 281 financial crisis of 2008 and, 195 first generation of wealthy, 218 first private research institute, 182 five “black categories,” 5, 11, 170 foreign relations and, 189, 194, 254 Gang of Four, 18, 52 Great Leap Forward, 273 guanxi (connections), importance of, 46, 74, 120, 121, 139, 149–50, 155, 164–65, 181, 204, 217, 247, 271 Gu Mu and economic reforms, 272 Heineken beer and Marlboro cigarettes, sales of, 46 hotels, popularity of, 228 indefinite detention (shuanggui), 281 influence peddling and, 164 intellectual property theft in, 62 Internet and broadband in, 49, 51 islands in South China Sea and, 197 jewelry start-ups in, 89 Jiang’s policy on capitalists, 170 laws as ambiguous, 150, 258 Leninist system of total societal control, 281–82 Li Peng and economic slowdown, 45 medical system, 153–56 military-industrial complex, 185 mobile phones in, 60 modernization of, 77, 169–70, 188 moral vacuum in, 158 motorcycle production, 48 the “New China,” 3, 6, 49, 180 nouveau riche in, 158, 161 one-child policy, 154 Overseas Chinese Affairs, 19–20 parenting philosophy in, 15 as patriarchal society, 3, 64, 103, 173, 246 “patriotic overseas Chinese” as source for foreign currency, 9 politics as the key to riches, 215 pollution in, 188 privatization in, 174 pro-democracy protests in 1989, 272 real estate business, 56, 123–24, 216 relatives overseas, as stigma, 5 secrecy and fear in, 120 shock-and-awe hospitality of, 48 southern clans, diaspora of, 8 Special Economic Zones, 201 sports bureaucracy, 16 state-owned banks, 224 state-owned businesses, 126–27, 142, 171–72, 174, 192, 195, 199, 223 state-run work unit system, 56 state-subsidies of exports, 134 status symbols, 60, 114–15 stock markets of, 240 the “system” and, 95, 274, 282 tariff revenues, 46, 133 tax system, 197 theory of zhongxue wei ti, xixue wei yong, 77 tuhuangdi or dirt emperor, 128, 193 universities run by the CCP, 183 US-China relations, 32, 182 Western businesses in, pretense of ignorance and, 47 Western private equity investment in, 45, 51, 56, 57, 91, 101 woman’s average age to marry, 69 women and power in, 173 women’s repression in, 71 WTO and, 57, 134 Xi Jinping’s repressive rule, 251–55 See also Chinese Communist Party China Central Television, 124 China Democratic League, 52 China Duty Free Group, 126–27 China Mineral and Gem Corp., 89 China National Petroleum Corp., 8 China Ocean Shipping Company (COSCO), 75, 110, 165 China Telecom, 172 ChinaVest, 44–54, 60, 134 Chinese Academy of Social Sciences, 189 Chinese Communist Party (CCP), 2, 7, 53, 57 ability to drink and, 128 anti-American stance, 197, 237–38 battle against Western ideas, 195–96, 253 Beijing vs.


pages: 537 words: 158,544

Second World: Empires and Influence in the New Global Order by Parag Khanna

Abraham Maslow, Admiral Zheng, affirmative action, anti-communist, Asian financial crisis, Bartolomé de las Casas, Branko Milanovic, British Empire, call centre, capital controls, central bank independence, cognitive dissonance, colonial rule, complexity theory, continuation of politics by other means, crony capitalism, death from overwork, Deng Xiaoping, different worldview, Dissolution of the Soviet Union, Donald Trump, dual-use technology, Edward Glaeser, energy security, European colonialism, export processing zone, facts on the ground, failed state, flex fuel, Francis Fukuyama: the end of history, friendly fire, gentrification, Gini coefficient, global reserve currency, global supply chain, Great Leap Forward, guns versus butter model, haute couture, Hernando de Soto, illegal immigration, income inequality, informal economy, invisible hand, Islamic Golden Age, karōshi / gwarosa / guolaosi, Khyber Pass, Kickstarter, knowledge economy, land reform, Londongrad, low cost airline, low skilled workers, mass immigration, means of production, megacity, meritocracy, military-industrial complex, Monroe Doctrine, Nelson Mandela, no-fly zone, oil shale / tar sands, oil shock, oil-for-food scandal, open borders, open economy, Parag Khanna, Pax Mongolica, Pearl River Delta, pirate software, Plutonomy: Buying Luxury, Explaining Global Imbalances, Potemkin village, price stability, race to the bottom, RAND corporation, reserve currency, restrictive zoning, rising living standards, Robert Solow, Ronald Reagan, Silicon Valley, Skype, South China Sea, special economic zone, stem cell, Stephen Hawking, Suez crisis 1956, Thomas L Friedman, trade route, trickle-down economics, uranium enrichment, urban renewal, Washington Consensus, women in the workforce

To remove the shattered debris of Sovietism and build a new Georgia from scratch will continue to cost billions, but now Europe has no choice. The BTC pipeline makes Georgia’s economy an appendage of Azerbaijan’s, allowing it to benefit from the spillover effects in the transport, communications, hotel, and catering industries (much like in third-world special economic zones). Georgian banks now operate courtesy of the International Finance Corporation (IFC), while the United States and the World Bank spend close to $100 million annually to buy electricity seasonally from Russia and build roads and gas refineries. It is common to refer to the long-standing conflicts resulting from Soviet-imposed demographic schizophrenia as “frozen,” a very inconvenient fiction that encourages diplomatic apathy.

Its economy is already larger than the rest of Central Asia’s states combined, and the value of its energy assets is estimated at $9 trillion. Despite horrendous levels of corruption, diversification is under way even as oil output and profits boom, insulating the economy from future volatility in the global energy market.8 Matching the ambition of the semi-authoritarian Asian tigers, Kazakhstan has established special economic zones and information-technology parks and has turned biological-weapons plants into food-processing factories. It also plans to utilize its enormous uranium reserves for nuclear energy. New regional airports and wide roads are restoring connections across the continental steppe. Ski resorts are also emerging in the Tien Shan range—to which Europeans may soon flock, if global warming diminishes snowfall in the Alps.

For the Chinese, a garden is a commercial plot, while for Malays it is part of the home and the earth.7 Today some joke that “if the Chinese became Muslim, the Malay would convert to Buddhism.” Nonetheless, as a former official whispered in his humble home office, “We won’t admit it, but without the Chinese we might still be an economic backwater.” Despite Mahathir’s tough pro-Malay stance, his closest business associates are Chinese. He even created a special economic zone off the coast of Borneo to lure Chinese investment, cleverly attracting their funds while limiting their control. China’s growing ties with Malaysia test the proverb that “a close neighbor is more important than a distant relative.” Over the centuries, Chinese migrants have clustered around Kuala Lumpur and Penang, the former still very much a Chinese city with Chinese architecture and a lively annual Chinese parade.


pages: 487 words: 147,891

McMafia: A Journey Through the Global Criminal Underworld by Misha Glenny

"RICO laws" OR "Racketeer Influenced and Corrupt Organizations", "World Economic Forum" Davos, anti-communist, Anton Chekhov, Berlin Wall, blood diamond, BRICs, colonial rule, crony capitalism, Deng Xiaoping, Doha Development Round, failed state, Fall of the Berlin Wall, financial deregulation, Firefox, forensic accounting, friendly fire, glass ceiling, Global Witness, Great Leap Forward, illegal immigration, joint-stock company, low interest rates, market bubble, Mikhail Gorbachev, Nelson Mandela, Nick Leeson, no-fly zone, offshore financial centre, Oklahoma City bombing, Pearl River Delta, place-making, rising living standards, Ronald Reagan, Shenzhen special economic zone , Skype, special economic zone, Stephen Hawking, trade liberalization, trade route, Transnistria, unemployed young men, upwardly mobile

Mao Zedong suspected this backward province of harboring all manner of class traitors and counterrevolutionaries, and so for two decades he neglected the region as a punishment for suspected thought crimes and recidivist bourgeois habits. Perhaps it was to compensate for Mao’s vindictive behavior that China’s great reformer, Deng Xiaoping, chose the city of Xiamen in southern Fujian as one of the first special economic zones (SEZs) in the early 1980s to inspire local entrepreneurs in thawing out the economy that had been frozen solid by the Maoist ice age. Agog at the success of the Xiamen experiment, it wasn’t long before Fuzhou’s local bosses opened up the provincial capital as well. Deng did not confer the honor on Fujian by chance—80 percent of Taiwan’s people trace their roots back to Fujian.

The provinces may be as corrupt as they wish in making their money, as long as Beijing doesn’t catch them red-handed. Once Deng Xiaoping had given his blessing to economic experiment, a truly wild version of capitalism quickly swept away decades of stagnant socialist planning in the SEZs (special economic zones), especially in the south of the country. Entrepreneurs could manufacture and sell anything they wished if there was a market. All they needed was to find their baohu san, or “protective umbrella,” the spokes of which were local Party bureaucrats able to reduce business risks by signing licenses or stifling the curiosity of regulatory bodies.

From the gentle agricultural pastures of northern Hong Kong, you can now cross into a 12 million–strong giant of hypermalls, factories, tower blocks, and work, work, work. Shenzhen on the Pearl River Delta is the gateway to the new China, having formed a profoundly dynamic symbiotic relationship with Hong Kong. One of the original special economic zones, not only has Shenzhen become the blazing vanguard of China’s future, but it has even rescued the former British colony from decline by throwing it a lifeline of economic opportunity. If there is a market niche, the entrepreneurs of Shenzhen will sniff it out and fill it. Mo Bangfu, a Chinese journalist who has traveled to Chinatowns throughout the world, explained how it works.


pages: 534 words: 15,752

The Sushi Economy: Globalization and the Making of a Modern Delicacy by Sasha Issenberg

air freight, Akira Okazaki, anti-communist, barriers to entry, Boeing 747, Bretton Woods, call centre, company town, creative destruction, Deng Xiaoping, Dutch auction, flag carrier, global supply chain, Golden arches theory, haute cuisine, means of production, Nixon shock, Nixon triggered the end of the Bretton Woods system, Saturday Night Live, Silicon Valley, special economic zone, standardized shipping container, telemarketer, trade route, urban renewal

When Deng Xiaoping in 1984 designated “coastal open cities,” Dalian—which had served as the commercial and navigational gateway to northeast China under the alternating control of Russia, Japan, and the Soviet Union—was a natural candidate to participate in this effort at economic reform. Five years earlier, Deng had named four “special economic zones” as laboratories for capitalist industry, and then expanded the experiment to fourteen further cities. Chinese cities at the time were not exactly laboratories in the development of consumer tastes—streets were home to a sea of men in the same Communist blue suit—but with the “Coastal Open City” designation came liberalization of restrictions on foreign trade and, apparently, an appetite for Japanese-style barbecue.

., nigiri-hayatsuke Nihon Freezer Nishimura, Shoichi Nixon, Richard NOAA (National Oceanic and Atmospheric Administration) Nobu restaurants Nobu-style cuisine North Carolina fish, “north of the orient” journey Lindbergh Notar, Richie Nozawa, Kazunori ocean perch Ohnuki-Tierney, Emiko Okai, Yoshi Okazaki, Akira Okazaki, Kaheita Okubo, Yoshio omakase Onchi, Tetsuro onigiri (rice balls) Onodera, Morihiro Ono, Tadashi ooba opening ceremonies, Nobu restaurants Osaka Expo (1970) oshibori (little damp towels) “outsourcing,” overfishing Pacific flight of tuna Paloma Reefer (ship) incident Pearl Harbor “perfect cultivation,” Perry, Mathew Peru pet food and Boston bluefin “phantom fish” (kue) Phillips, Julia Phillips, Saul “pickle trade” (takuwan boeki) Pina, Lucas piracy Plaza Accord (1985) Pleasures of Japanese Cooking, The (Tanaka) pollock ponzu Port Lincoln, Australia See also ranching tun preparing fresh tuna by auction houses prep work by sushi chefs Presland, Shaun pressing prices black market seafood commerce bluefin tuna Boston bluefin leveler of taste ranched tuna restaurant’s identity and prices (continued) short-term losses to strengthen long-term Prince Edward Island, Canada private-treaty exchange processors produce, dishes based on producers, regulating production and technology production costs, China profit margins for tuna profit-sharing system protein in Japanese cuisine Puglisi, Joe purse-seine pushing items to control inventory Qaddafi, Moammar “quick sushi” (haya-zushi) Qui, Paul quotas (catch) black market ranching tuna ranching tuna black market business Tsukiji Market raw vs. cooked fish Raymond, Billy red tide (algal blooms) refrigerated containers (“refcons”) regulation of producers Reichl, Ruth restaurants, fast-food sushi return-pricing, rice balls (onigiri) rice, fast-food sushi rice sandwiches risks of ranching tuna seasonal economy Road to a Higher Value Added Tuna Industry, The (Jeffriess) Robbins, Floyd Robuchon, Joël Rockwell David Rome Monte ronin (“wave man”) rubber boots, Tsukiji Market 16 Russo-Japanese War Safina, Carl Saio, Masa Sampson, Anthony Samuelsson, Marcus samurai swordmakers as knife producers Sanfilippo, Angela Santic, Tony Sarin, Sam Sato, Humberto sawagani seafood trading houses (suisan “seafood business,” “the seven sisters”) seasonal economy, risks of sea urchin (uni) second-day tuna second-wave sushi restaurants “seeing a tuna,” Sendai, China Sendai Market servers “seven sisters” (seafood trading houses) Sheraton, Mimi Sherman, Gene Shibata, Yoko “Shiller’s Reel: Sushi by the Pool” (Saturday Night Live), Shintoism Shiogama auction house shipping containers Shiraishi, Yoshiaki Shizuoka University Showa Dynasty simultaneous bids Slow Food movement Smith, Charles W. sociability and sushi chefs sopa criolla Soviet Union soy sauce SPAM Spanish bluefin tuna “special economic zones,” spicy-tuna roll sportsfishing and bluefin status object, legally ranched tuna as status system of Japanese sushi culture Stehr, Hagen Stehr, Marcus Steingarten, Jeffrey stock exchange, ranching tuna Stoddart, Alex “strategic tuna reserve,” Japan street snack, sushi as street stalls suburban sushi bars suisan (seafood trading houses) superfreezer surf clam sushi bars fast food, sushi as hierarchical division of labor revenue from slang workspace sushi chefs apprenticeship buying fish by career paths of Caucasian China female gratuities, pooling head sushi chef inventory control Los Angeles, California manual dexterity of mechanics/musicians mystique of prep work by role of rules for sociability and technique Texas sushi shokunin sushi economy birth of modern sushi black market seafood commerce Boston bluefin boom and bust China fast food, sushi as Los Angeles, California Narita Airport Nobu-style cuisine ranching tuna Texas sushi shokunin See also sushi chefs; Tsukiji Market (Tokyo) sushi salads sushi vernacular Sydney, Australia Sydney Fish Market tail of tuna Takayama, Masa takeout sushi takuwan boeki (“pickle trade”) Tanaka, Heihachi technology advancement Teper, Meir Terauchi, Jay Texas sushi shokunin Thai Airways “Things Yuppies Eat for Lunch,” Three Bar tiraditos Tohto Suisan (Tohsui) auction house Tokugawa leyasu “Tokyo’s Pantry,” See also Tsukiji Market (Tokyo) Tony’s Tuna toro (fatty, pink belly meat) tossing a tuna (“flying fish”) Townsend, Denny trade imbalance, U.S. and Japan traders, Tsukiji Market “traditional” vs. new sushi transportation revolutions Trillin, Calvin trust relationship between seller and buyer tsuke Tsukiji Market (Tokyo) auctioneers auction licenses auctions bidding at Boston bluefin Gloucester fishermen and preparing fresh tuna ranched tuna records at sales (dollars) at Sendai Market vs. short-term losses to strengthen long-term simultaneous bids stalls at Umai Sushikan in value assessment weather impact See also sushi economy tsuma tsunami (December 2004) Tudela, Sergi tuna See also sushi economy tuna barons tuna cowboys tunafish vs. tuna Tunarama Festival Tuna-Ranching Intelligence Unit reports tuna usage, calculating Tunisia Turkey “turnover sushi” (kaiten-zushi) twentieth century (late) invention of sushi Two Bar two-stock theory of Atlantic bluefin Ueno, Takamasa Umai Sushikan Unification Church uni (sea urchin) United States devaluing of dollar Strategic Petroleum Reserve sushi future trade imbalance with Japan See also Los Angeles California Usami, Satoshi Ushizima, Kinya (“potato king”) usuzukuri Uwate, Matao value-added products, Japan value added to fish value assessment Vancouver, Canada Vongerichten, Jean-Georges Wade, Michael “Wake Up, Little Su-u-shi, Wake Up!”


pages: 372 words: 92,477

The Fourth Revolution: The Global Race to Reinvent the State by John Micklethwait, Adrian Wooldridge

"World Economic Forum" Davos, Admiral Zheng, affirmative action, Affordable Care Act / Obamacare, Asian financial crisis, assortative mating, banking crisis, barriers to entry, battle of ideas, Berlin Wall, Bernie Madoff, bike sharing, Boris Johnson, Bretton Woods, British Empire, cashless society, central bank independence, Chelsea Manning, circulation of elites, classic study, Clayton Christensen, Corn Laws, corporate governance, credit crunch, crony capitalism, Deng Xiaoping, Detroit bankruptcy, disintermediation, Disneyland with the Death Penalty, driverless car, Edward Snowden, Etonian, failed state, Francis Fukuyama: the end of history, full employment, Gunnar Myrdal, income inequality, James Carville said: "I would like to be reincarnated as the bond market. You can intimidate everybody.", junk bonds, Khan Academy, Kickstarter, knowledge economy, Kodak vs Instagram, labor-force participation, laissez-faire capitalism, land reform, Les Trente Glorieuses, liberal capitalism, Martin Wolf, means of production, Michael Milken, minimum wage unemployment, mittelstand, mobile money, Mont Pelerin Society, Nelson Mandela, night-watchman state, Norman Macrae, obamacare, oil shale / tar sands, old age dependency ratio, open economy, Parag Khanna, Peace of Westphalia, pension reform, pensions crisis, personalized medicine, Peter Thiel, plutocrats, popular capitalism, profit maximization, public intellectual, rent control, rent-seeking, ride hailing / ride sharing, road to serfdom, Ronald Coase, Ronald Reagan, school choice, school vouchers, Shenzhen special economic zone , Silicon Valley, Skype, special economic zone, TED Talk, the long tail, three-martini lunch, too big to fail, total factor productivity, vertical integration, War on Poverty, Washington Consensus, Winter of Discontent, working-age population, zero-sum game

China is doing more than promoting a web of connections: It is deliberately promoting a model. When foreign officials come to China for training programs, their tutors at places like CELAP now emphasize the virtues of the Chinese model—the way the state can focus on national champions or attract foreign investment into special economic zones or ensure that entrepreneurs join the Communist Party and thereby contribute to political stability as well as economic dynamism. They also compare China’s sleek government with America’s gridlock and India’s chaos. The government has seeded Confucius Institutes in universities across the world and is trying to use the Boao Forum for Asia as an ideological counterweight to Davos.

Indeed, it is an interesting comment on the relative merits of central and local government that Mitt Romney opposed the health-care reforms as a national candidate that he had pioneered as a Massachusetts governor. The second place localism has paid off especially well is the emerging world. Reforming governments have frequently used local governments as laboratories of reform: Look at the role of Shenzhen or Guangdong in China in the 1980s or the role of special economic zones in the Middle East today. Dubai alone has 150 economic zones, such as the International Financial Centre, which uses the English legal system to resolve commercial disputes, and the Jebel Ali Free Zone, which is one of the world’s largest and most efficient ports. India and China are so gigantic that they cannot avoid giving a good deal of self-determination to provinces that contain as many as one hundred million people.


pages: 307 words: 88,180

AI Superpowers: China, Silicon Valley, and the New World Order by Kai-Fu Lee

"World Economic Forum" Davos, AI winter, Airbnb, Albert Einstein, algorithmic bias, algorithmic trading, Alignment Problem, AlphaGo, artificial general intelligence, autonomous vehicles, barriers to entry, basic income, bike sharing, business cycle, Cambridge Analytica, cloud computing, commoditize, computer vision, corporate social responsibility, cotton gin, creative destruction, crony capitalism, data science, deep learning, DeepMind, Demis Hassabis, Deng Xiaoping, deskilling, Didi Chuxing, Donald Trump, driverless car, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, fake news, full employment, future of work, general purpose technology, Geoffrey Hinton, gig economy, Google Chrome, Hans Moravec, happiness index / gross national happiness, high-speed rail, if you build it, they will come, ImageNet competition, impact investing, income inequality, informal economy, Internet of things, invention of the telegraph, Jeff Bezos, job automation, John Markoff, Kickstarter, knowledge worker, Lean Startup, low skilled workers, Lyft, machine translation, mandatory minimum, Mark Zuckerberg, Menlo Park, minimum viable product, natural language processing, Neil Armstrong, new economy, Nick Bostrom, OpenAI, pattern recognition, pirate software, profit maximization, QR code, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, risk tolerance, Robert Mercer, Rodney Brooks, Rubik’s Cube, Sam Altman, Second Machine Age, self-driving car, sentiment analysis, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, Skype, SoftBank, Solyndra, special economic zone, speech recognition, Stephen Hawking, Steve Jobs, strong AI, TED Talk, The Future of Employment, Travis Kalanick, Uber and Lyft, uber lyft, universal basic income, urban planning, vertical integration, Vision Fund, warehouse robotics, Y Combinator

“the best company”: April Glaser, “DJI Is Running away with the Drone Market,” Recode, April 14, 2017, https://www.recode.net/2017/4/14/14690576/drone-market-share-growth-charts-dji-forecast. 1.5 million miles: Fred Lambert, “Google’s Self-Driving Car vs Tesla Autopilot: 1.5M Miles in 6 Years vs 47M Miles in 6 Months,” Electrek, April 11, 2016, https://electrek.co/2016/04/11/google-self-driving-car-tesla-autopilot/. $583 billion: “Xiong’an New Area: China’s Latest Special Economic Zone?” CKGSB Knowledge, November 8, 2017, http://knowledge.ckgsb.edu.cn/2017/11/08/all-articles/xiongan-china-special-economic-zone/. 6. UTOPIA, DYSTOPIA, AND THE REAL AI CRISIS Kurzweil predicts: Dom Galeon and Christianna Reedy, “Kurzweil Claims That the Singularity Will Happen by 2045,” Futurism, October 5, 2017, https://futurism.com/kurzweil-claims-that-the-singularity-will-happen-by-2045/.


pages: 566 words: 163,322

The Rise and Fall of Nations: Forces of Change in the Post-Crisis World by Ruchir Sharma

"World Economic Forum" Davos, Asian financial crisis, backtesting, bank run, banking crisis, Berlin Wall, Bernie Sanders, BRICs, business climate, business cycle, business process, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, central bank independence, centre right, colonial rule, commodity super cycle, corporate governance, creative destruction, crony capitalism, currency peg, dark matter, debt deflation, deglobalization, deindustrialization, demographic dividend, demographic transition, Deng Xiaoping, Doha Development Round, Donald Trump, driverless car, Edward Glaeser, Elon Musk, eurozone crisis, failed state, Fall of the Berlin Wall, falling living standards, financial engineering, Francis Fukuyama: the end of history, Freestyle chess, Gini coefficient, global macro, Goodhart's law, guns versus butter model, hiring and firing, hype cycle, income inequality, indoor plumbing, industrial robot, inflation targeting, Internet of things, Japanese asset price bubble, Jeff Bezos, job automation, John Markoff, Joseph Schumpeter, junk bonds, Kenneth Rogoff, Kickstarter, knowledge economy, labor-force participation, Larry Ellison, lateral thinking, liberal capitalism, low interest rates, Malacca Straits, Mark Zuckerberg, market bubble, Mary Meeker, mass immigration, megacity, megaproject, Mexican peso crisis / tequila crisis, middle-income trap, military-industrial complex, mittelstand, moral hazard, New Economic Geography, North Sea oil, oil rush, oil shale / tar sands, oil shock, open immigration, pattern recognition, Paul Samuelson, Peter Thiel, pets.com, plutocrats, Ponzi scheme, price stability, Productivity paradox, purchasing power parity, quantitative easing, Ralph Waldo Emerson, random walk, rent-seeking, reserve currency, Ronald Coase, Ronald Reagan, savings glut, secular stagnation, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Simon Kuznets, smart cities, Snapchat, South China Sea, sovereign wealth fund, special economic zone, spectrum auction, Steve Jobs, tacit knowledge, tech billionaire, The Future of Employment, The Wisdom of Crowds, Thomas Malthus, total factor productivity, trade liberalization, trade route, tulip mania, Tyler Cowen: Great Stagnation, unorthodox policies, Washington Consensus, WikiLeaks, women in the workforce, work culture , working-age population

If it were not for a widening of their boundaries in 2011, these two cities’ populations would still fall well short of the one million mark. Of course, one reason for China’s lead is that its economy has grown much faster than India’s, and industrialization encourages urbanization. But even with that caveat in mind, India has also done less to develop second cities. China created dynamic special economic zones to encourage growth in southeastern coastal provinces, led by Guangdong and Fujian, where many of the fastest-growing cities emerged. One of the surprises about China’s top-down approach to development is how much freedom Beijing granted to its lesser cities to take advantage of their location, even to commandeer land or funnel bank loans into building projects.

Top officials jockey with one another for residences in this urban oasis, some of which are valued at upward of $50 million. In the emerging world, the only comparable government enclaves I know of are also in India, in the hearts of second-tier cities like Patna and Bareilly. India tried to create special economic zones on the China model, but these zones have restrictive rules on the use of land and labor, so they have done little to create jobs or build urban populations. India’s outdated building codes discourage development in downtown areas and drive up prices, which is one reason average urban land prices are now twice as high in India as in China, according to the Global Property Guide.

To fortify a rapidly aging workforce, Abe has pushed “womenomics,” including a revamping of childcare systems. The share of adult women who participate in the work force is up from 60 percent in 2010 to 65 percent today—surpassing the United States, where the share is stagnant at 63 percent. In addition, the Abe government is talking about creating special economic zones with looser rules for foreign workers, particularly for those involved in care for the elderly. This test run may uncover how far Japan would be willing to open its doors to economic migrants. The Abe government is also a joint author with the United States of the Trans-Pacific Partnership, which is at its core a Japanese-American plan to write the rules of fair trade before China can.


pages: 356 words: 103,944

The Globalization Paradox: Democracy and the Future of the World Economy by Dani Rodrik

"World Economic Forum" Davos, affirmative action, Alan Greenspan, Asian financial crisis, bank run, banking crisis, Bear Stearns, bilateral investment treaty, borderless world, Bretton Woods, British Empire, business cycle, capital controls, Carmen Reinhart, central bank independence, classic study, collective bargaining, colonial rule, Corn Laws, corporate governance, corporate social responsibility, credit crunch, Credit Default Swap, currency manipulation / currency intervention, David Ricardo: comparative advantage, deindustrialization, Deng Xiaoping, Doha Development Round, en.wikipedia.org, endogenous growth, eurozone crisis, export processing zone, financial deregulation, financial innovation, floating exchange rates, frictionless, frictionless market, full employment, George Akerlof, guest worker program, Hernando de Soto, immigration reform, income inequality, income per capita, industrial cluster, information asymmetry, joint-stock company, Kenneth Rogoff, land reform, liberal capitalism, light touch regulation, Long Term Capital Management, low interest rates, low skilled workers, margin call, market bubble, market fundamentalism, Martin Wolf, mass immigration, Mexican peso crisis / tequila crisis, microcredit, Monroe Doctrine, moral hazard, Multi Fibre Arrangement, night-watchman state, non-tariff barriers, offshore financial centre, oil shock, open borders, open economy, Paul Samuelson, precautionary principle, price stability, profit maximization, race to the bottom, regulatory arbitrage, Savings and loan crisis, savings glut, Silicon Valley, special drawing rights, special economic zone, subprime mortgage crisis, The Wealth of Nations by Adam Smith, Thomas L Friedman, Tobin tax, too big to fail, trade liberalization, trade route, transaction costs, tulip mania, Washington Consensus, World Values Survey

The Chinese leadership resisted the conventional advice in opening their economy because removing barriers to trade would have forced many state enterprises to close without doing much to stimulate new investments in industrial activities. Employment and economic growth would have suffered, threatening social stability. The Chinese decided to experiment with alternative mechanisms that would not create too much pressure on existing industrial structures. In particular, they relied on Special Economic Zones (SEZs) to generate exports and attract foreign investment. Enterprises in these zones operated under different rules than those that applied in the rest of the country; they had access to better infrastructure and could import inputs duty-free. The SEZs generated incentives for export-oriented investments without pulling the rug from under state enterprises.

There are diverse ways in which a particular constraint can be lifted, some more attuned to domestic circumstances than others. If you want to increase the economy’s outward orientation, this can be achieved via export subsidies (as in South Korea and Taiwan), via an export-processing zone (as in Mauritius), via Special Economic Zones (as in China)—or via free trade (as in Hong Kong) for that matter. Domestic industries can be promoted through subsidized credit (South Korea), tax incentives (Taiwan), or trade protection (Brazil, Mexico, and Turkey). Property rights can be enhanced by importing and adapting foreign legal codes (as in Japan during the Meiji Restoration) or by developing domestic variants (as in China and Vietnam).


pages: 381 words: 101,559

Currency Wars: The Making of the Next Gobal Crisis by James Rickards

"World Economic Forum" Davos, Alan Greenspan, Asian financial crisis, bank run, Bear Stearns, behavioural economics, Benoit Mandelbrot, Berlin Wall, Big bang: deregulation of the City of London, Black Swan, borderless world, Bretton Woods, BRICs, British Empire, business climate, buy and hold, capital controls, Carmen Reinhart, Cass Sunstein, collateralized debt obligation, complexity theory, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, cross-border payments, currency manipulation / currency intervention, currency peg, currency risk, Daniel Kahneman / Amos Tversky, deal flow, Deng Xiaoping, diversification, diversified portfolio, Dr. Strangelove, Fall of the Berlin Wall, family office, financial innovation, floating exchange rates, full employment, game design, German hyperinflation, Gini coefficient, global rebalancing, global reserve currency, Great Leap Forward, guns versus butter model, high net worth, income inequality, interest rate derivative, it's over 9,000, John Meriwether, Kenneth Rogoff, laissez-faire capitalism, liquidity trap, Long Term Capital Management, low interest rates, mandelbrot fractal, margin call, market bubble, Mexican peso crisis / tequila crisis, Money creation, money market fund, money: store of value / unit of account / medium of exchange, Myron Scholes, Network effects, New Journalism, Nixon shock, Nixon triggered the end of the Bretton Woods system, offshore financial centre, oil shock, one-China policy, open economy, paradox of thrift, Paul Samuelson, power law, price mechanism, price stability, private sector deleveraging, proprietary trading, quantitative easing, race to the bottom, RAND corporation, rent-seeking, reserve currency, Ronald Reagan, short squeeze, sovereign wealth fund, special drawing rights, special economic zone, subprime mortgage crisis, The Myth of the Rational Market, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thomas Kuhn: the structure of scientific revolutions, time value of money, too big to fail, value at risk, vertical integration, War on Poverty, Washington Consensus, zero-sum game

Hua was aided in this by the recently rehabilitated and soon to be dominant Deng Xiaoping. Real change began the next year, followed by a period of experimentation and pilot programs aimed at increasing autonomy in decision making on farms and in factories. In 1979, China took the landmark decision to create four special economic zones offering favorable work rules, reduced regulation and tax benefits designed to attract foreign investment, especially in manufacturing, assembly and textile industries. They were the precursors of a much larger program of economic development zones launched in 1984 involving most of the large coastal cities in eastern China.

The surest way to rapid, massive job creation was to become an export powerhouse. The currency peg was the means to this end. For the Communist Party of China, the dollar-yuan peg was an economic bulwark against another Tiananmen Square. By 1992, reactionary elements in China opposed to reform again began to push for a dismantling of Deng’s special economic zones and other programs. In response, a visibly ailing and officially retired Deng Xiaoping made his famous New Year’s Southern Tour, a personal visit to major industrial cities, including Shanghai, which generated support for continued economic development and which politically disarmed the reactionaries.


pages: 363 words: 101,082

Earth Wars: The Battle for Global Resources by Geoff Hiscock

Admiral Zheng, Asian financial crisis, Bakken shale, Bernie Madoff, BRICs, butterfly effect, carbon tax, clean tech, clean water, corporate governance, demographic dividend, Deng Xiaoping, Edward Lorenz: Chaos theory, energy security, energy transition, eurozone crisis, Exxon Valdez, flex fuel, Ford Model T, geopolitical risk, global rebalancing, global supply chain, Great Leap Forward, high-speed rail, hydraulic fracturing, Long Term Capital Management, Malacca Straits, Masayoshi Son, Masdar, mass immigration, megacity, megaproject, Menlo Park, Mohammed Bouazizi, new economy, oil shale / tar sands, oil shock, Panamax, Pearl River Delta, purchasing power parity, Ralph Waldo Emerson, RAND corporation, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, smart grid, SoftBank, Solyndra, South China Sea, sovereign wealth fund, special economic zone, spice trade, trade route, uranium enrichment, urban decay, WikiLeaks, working-age population, Yom Kippur War

The incident took place in international waters in the South China Sea, about 75 miles south of Hainan Island. It was preceded by days of increasingly aggressive conduct by Chinese vessels.10 Chinese Foreign Ministry spokesman Ma Zhaoxu (10 March 2009): China has lodged a solemn representation to the United States as the USNS Impeccable conducted activities in China’s special economic zone in the South China Sea without China’s permission. We demand that the United States put an immediate stop to related activities and take effective measures to prevent similar acts from happening. The U.S. claims are gravely in contravention of the facts and confuse black and white and they are totally unacceptable to China.11 The United States and China each continues to maintain it was in the right in the USNS Impeccable incident.

Meanwhile, China’s paramount leader Deng Xiaoping (who died in 1997) had reinvigorated the reform process at the beginning of the 1990s, and his new team led by President Jiang Zemin, joined later by Premier Zhu Rongji, was presiding over a long period of 8 percent or better growth that catapulted China’s economy into the major league. The special economic zones that began in the early 1980s with the sleepy fishing village of Shenzhen, just across from Hong Kong on the Chinese mainland, were beginning to deliver on their trade and investment potential. In 2000, the city of Shenzhen—by then its population swollen past 10 million people—marked Deng’s role as a “great planner and contributor” to its development, unveiling a 6 m bronze statue in Lianhua (Lotus) Mountain park that shows Deng in a purposeful pose.


pages: 463 words: 105,197

Radical Markets: Uprooting Capitalism and Democracy for a Just Society by Eric Posner, E. Weyl

3D printing, activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, anti-communist, augmented reality, basic income, Berlin Wall, Bernie Sanders, Big Tech, Branko Milanovic, business process, buy and hold, carbon footprint, Cass Sunstein, Clayton Christensen, cloud computing, collective bargaining, commoditize, congestion pricing, Corn Laws, corporate governance, crowdsourcing, cryptocurrency, data science, deep learning, DeepMind, Donald Trump, Elon Musk, endowment effect, Erik Brynjolfsson, Ethereum, feminist movement, financial deregulation, Francis Fukuyama: the end of history, full employment, gamification, Garrett Hardin, George Akerlof, global macro, global supply chain, guest worker program, hydraulic fracturing, Hyperloop, illegal immigration, immigration reform, income inequality, income per capita, index fund, informal economy, information asymmetry, invisible hand, Jane Jacobs, Jaron Lanier, Jean Tirole, Jeremy Corbyn, Joseph Schumpeter, Kenneth Arrow, labor-force participation, laissez-faire capitalism, Landlord’s Game, liberal capitalism, low skilled workers, Lyft, market bubble, market design, market friction, market fundamentalism, mass immigration, negative equity, Network effects, obamacare, offshore financial centre, open borders, Pareto efficiency, passive investing, patent troll, Paul Samuelson, performance metric, plutocrats, pre–internet, radical decentralization, random walk, randomized controlled trial, Ray Kurzweil, recommendation engine, rent-seeking, Richard Thaler, ride hailing / ride sharing, risk tolerance, road to serfdom, Robert Shiller, Ronald Coase, Rory Sutherland, search costs, Second Machine Age, second-price auction, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, special economic zone, spectrum auction, speech recognition, statistical model, stem cell, telepresence, Thales and the olive presses, Thales of Miletus, The Death and Life of Great American Cities, The Future of Employment, The Market for Lemons, The Nature of the Firm, The Rise and Fall of American Growth, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thorstein Veblen, trade route, Tragedy of the Commons, transaction costs, trickle-down economics, Tyler Cowen, Uber and Lyft, uber lyft, universal basic income, urban planning, Vanguard fund, vertical integration, women in the workforce, Zipcar

These communities might hope for a vibrant, culturally mixed public life. Other communities will prefer homogeneity and use tax and zoning restrictions to limit the influx of migrants. Natives might move across communities, to the opportunity offered by more open cities. In this spirit, it might be natural to pilot VIP in a community that would act as a “special economic zone,” using the program as a way to revive a currently depressed area and to investigate its potential advantages and drawbacks without disrupting a whole community. While the VIP would achieve nearly all the benefits of Becker’s visa auction, it would also address its primary weaknesses. Becker’s auction is run by the government, not by individuals or communities.

QV can be used in small groups that make collective decisions. The COST can be applied initially to existing administrative property regimes, like grazing rights within a specific geographic area. Migrant labor sponsorship could be implemented as a modest extension of the J-1 visa, with a limited number of visas in a special economic zone made available for a carefully monitored test run. The limits on institutional investment can start at a level that would require relatively little divestment by the big institutional investors; if financial disruption is small, the screws could be tightened. Payment for data labor merely needs to await technological developments and social organizations that seem to be in process.


pages: 388 words: 99,023

The Emperor's New Road: How China's New Silk Road Is Remaking the World by Jonathan Hillman

"World Economic Forum" Davos, British Empire, cable laying ship, capital controls, colonial rule, coronavirus, COVID-19, Deng Xiaoping, Donald Trump, drone strike, energy security, facts on the ground, high-speed rail, intermodal, joint-stock company, Just-in-time delivery, land reform, low interest rates, M-Pesa, Malacca Straits, megaproject, moral hazard, offshore financial centre, rent-seeking, Scramble for Africa, Silicon Valley, smart cities, South China Sea, special economic zone, Suez canal 1869, Suez crisis 1956, supply-chain management, trade route, transcontinental railway, undersea cable, union organizing, Washington Consensus

China’s list of grievances is growing as well. Chinese firms have complained about corruption within the initiative, delays in procurement and licensing processes, and failures by Pakistan to make payments on time.115 Pakistani businesses have pressed their provincial governments to delay the creation of special economic zones, which the Chinese government is eager to set up. In 2017, China signaled its displeasure with Pakistan’s stewardship of CPEC by temporarily halting funding for multiple projects.116 So far, China and Pakistan have avoided dangerous misunderstandings. Even as expectations are not met, new promises are made that allow officials on both sides to maintain optimism.

., (i); in Manila Pact and Baghdad Pact, (i); Mutual Defense Agreement with U.S., (i); New Silk Road (U.S. initiative) and, (i); nuclear weapons testing by, (i); post-9/11 Afghanistan war and U.S. relations with and support for, (i), (ii); Satpara Dam (Gilgit Baltistan), (i); security for Chinese workers in, (i); Shanghai Cooperation Organization and, (i); special economic zones in, (i); USAID and, (i); Water and Power Development Authority, (i). See also China-Pakistan Economic Corridor; Gwadar Port Pakistan and East Africa Connecting Europe (PEACE) cable, (i), (ii) Pakistan Army Corps of Engineers, (i) Palmer, James, (i)n7 Papanek, Gustav, (i), (ii), (iii) Paris Club, (i) Partnership for Quality Infrastructure (2015), (i), (ii) PEACE (Pakistan and East Africa Connecting Europe) cable, (i), (ii) Peloponnesian War, (i) Pence, Mike, (i), (ii) People’s Liberation Army (PLA), (i), (ii) Persian Empire, (i) Petraeus, David, (i) Philippines: ASEAN membership of, (i); corruption in, (i), (ii); Japanese ports in, (i); as U.S. ally, (i) Piraeus Port (Greece), (i), (ii); archaeologic restrictions on expansion, (i); author’s experiences at, (i), (ii); commercial success of, (i); criminal smuggling at, (i); part of “China-Europe Land-Sea Express Line,” (i); semiautomated operation of, (i); showpiece of Chinese infrastructure investment, (i), (ii) Poland: fears and criticism of Russian and Chinese power, (i); Warsaw-Berlin highway, (i) “Polar Silk Road,” (i) political influences on BRI development, (i), (ii); lack of transparency and, (i); Sri Lankan example, (i).


pages: 431 words: 107,868

The Great Race: The Global Quest for the Car of the Future by Levi Tillemann

Affordable Care Act / Obamacare, An Inconvenient Truth, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, banking crisis, Bear Stearns, car-free, carbon footprint, clean tech, creative destruction, decarbonisation, deindustrialization, demand response, Deng Xiaoping, Donald Trump, driverless car, electricity market, Elon Musk, en.wikipedia.org, energy security, factory automation, Fairchild Semiconductor, Ford Model T, foreign exchange controls, gigafactory, global value chain, high-speed rail, hydrogen economy, index card, Intergovernmental Panel on Climate Change (IPCC), joint-stock company, Joseph Schumpeter, Kanban, Kickstarter, manufacturing employment, market design, megacity, Nixon shock, obamacare, off-the-grid, oil shock, planned obsolescence, Ralph Nader, RFID, rolodex, Ronald Reagan, Rubik’s Cube, self-driving car, shareholder value, Shenzhen special economic zone , short squeeze, Silicon Valley, Silicon Valley startup, skunkworks, smart cities, Solyndra, sovereign wealth fund, special economic zone, Steve Jobs, Tesla Model S, too big to fail, Unsafe at Any Speed, zero-sum game, Zipcar

While the central government controls many key policies, local governments often have control of implementation. “The basic structure is decentralization,” said Shomik Mehndiratta, who oversaw a World Bank program on EVs in China. “And the instruments they have are very blunt.”2 Sometimes decentralization has been a magical tool for China. When the country created its Special Economic Zones in the 1970s, decentralization allowed coastal cities to test-drive Chinese capitalism. However, those economic gains were all about international trade, farming, and very low-end manufacturing. For developing a basically new transportation paradigm and for promoting competition in markets that were fundamentally determined by governmental decree, this decentralization, bordering on fragmentation had serious drawbacks.

Receiving his bachelor’s degree from the Central South Institute of Technology, Wang gained acceptance to the Beijing Non-Ferrous Research Institute, which had a strong program in battery science, and obtained his master’s degree there. Like the director of CNOOC’s battery company, Lishen, Wang was asked to start a state-owned battery company, in this case to be spun off from its parent research center and established in Shenzhen—China’s supercharged southern Special Economic Zone. But Wang did not stay long. He led the government venture for only about a year before abruptly exiting. Shenzhen is a frenetically capitalistic environment and you might say that Wang got bitten by the entrepreneurial bug. Wang saw an underserved market that could be used as a catapult into the global economy, and he wanted to profit from it.


pages: 297 words: 108,353

Boom and Bust: A Global History of Financial Bubbles by William Quinn, John D. Turner

accounting loophole / creative accounting, Alan Greenspan, algorithmic trading, AOL-Time Warner, bank run, banking crisis, barriers to entry, Bear Stearns, behavioural economics, Big bang: deregulation of the City of London, bitcoin, blockchain, book value, Bretton Woods, business cycle, buy and hold, capital controls, Celtic Tiger, collapse of Lehman Brothers, Corn Laws, corporate governance, creative destruction, credit crunch, Credit Default Swap, cryptocurrency, debt deflation, deglobalization, Deng Xiaoping, different worldview, discounted cash flows, Donald Trump, equity risk premium, Ethereum, ethereum blockchain, eurozone crisis, fake news, financial deregulation, financial intermediation, Flash crash, Francis Fukuyama: the end of history, George Akerlof, government statistician, Greenspan put, high-speed rail, information asymmetry, initial coin offering, intangible asset, Irish property bubble, Isaac Newton, Japanese asset price bubble, joint-stock company, Joseph Schumpeter, junk bonds, land bank, light touch regulation, low interest rates, margin call, market bubble, market fundamentalism, Martin Wolf, money: store of value / unit of account / medium of exchange, moral hazard, mortgage debt, negative equity, Network effects, new economy, Northern Rock, oil shock, Ponzi scheme, quantitative easing, quantitative trading / quantitative finance, railway mania, Right to Buy, Robert Shiller, Shenzhen special economic zone , short selling, short squeeze, Silicon Valley, smart contracts, South Sea Bubble, special economic zone, subprime mortgage crisis, technology bubble, the built environment, total factor productivity, transaction costs, tulip mania, urban planning

What had caused this transformation? In 1978, under the leadership of the reformist Deng Xiaoping, the Chinese government initiated its policy of ‘socialism with Chinese characteristics’, which gradually introduced markets into the existing communist structure. As part of this reform, Shenzhen was designated a special economic zone in which economic activities were largely driven by market forces, leaving it free to attract foreign investment, technology and companies. The main purpose of the zone was to produce manufactured goods for export. When Deng Xiaoping first came to power, China was an economic backwater, with a GDP per capita less than one-thirteenth that of Western Europe.

China’s astounding economic development resulted in the creation of the world’s largest middle class, which is estimated to consist of 400 million people. The reform and opening-up policy of Deng Xiaoping moved pragmatically and gradually – summarised by Xiaoping himself as ‘crossing the river by touching stones’ in a famous speech that he made before the Communist Party Plenary in 1978. As well as setting up special economic zones, farmers were given land cultivation rights and were empowered to make their own decisions. The management of state-owned enterprises (SOEs) was decentralised from central to local governments and SOE managers were given more autonomy.5 The 1980s saw the rise of townand village-owned enterprises (TVEs) – market-oriented businesses which were typically under the control of local authorities.


pages: 385 words: 112,842

Arriving Today: From Factory to Front Door -- Why Everything Has Changed About How and What We Buy by Christopher Mims

air freight, Airbnb, Amazon Robotics, Amazon Web Services, Apollo 11, augmented reality, autonomous vehicles, big-box store, blue-collar work, Boeing 747, book scanning, business logic, business process, call centre, cloud computing, company town, coronavirus, cotton gin, COVID-19, creative destruction, data science, Dava Sobel, deep learning, dematerialisation, deskilling, digital twin, Donald Trump, easy for humans, difficult for computers, electronic logging device, Elon Musk, Frederick Winslow Taylor, fulfillment center, gentrification, gig economy, global pandemic, global supply chain, guest worker program, Hans Moravec, heat death of the universe, hive mind, Hyperloop, immigration reform, income inequality, independent contractor, industrial robot, interchangeable parts, intermodal, inventory management, Jacquard loom, Jeff Bezos, Jessica Bruder, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Kaizen: continuous improvement, Kanban, Kiva Systems, level 1 cache, Lewis Mumford, lockdown, lone genius, Lyft, machine readable, Malacca Straits, Mark Zuckerberg, market bubble, minimum wage unemployment, Nomadland, Ocado, operation paperclip, Panamax, Pearl River Delta, planetary scale, pneumatic tube, polynesian navigation, post-Panamax, random stow, ride hailing / ride sharing, robot derives from the Czech word robota Czech, meaning slave, Rodney Brooks, rubber-tired gantry crane, scientific management, self-driving car, sensor fusion, Shenzhen special economic zone , Shoshana Zuboff, Silicon Valley, six sigma, skunkworks, social distancing, South China Sea, special economic zone, spinning jenny, standardized shipping container, Steve Jobs, supply-chain management, surveillance capitalism, TED Talk, the scientific method, Tim Cook: Apple, Toyota Production System, traveling salesman, Turing test, two-sided market, Uber and Lyft, Uber for X, uber lyft, Upton Sinclair, vertical integration, warehouse automation, warehouse robotics, workplace surveillance

All this water is the reason Vietnam has always been so productive agriculturally. While it sometimes gets in the way, it’s also one reason the country is now booming economically. From 1993 to 2016, the proportion of Vietnamese who lived in poverty dropped from 51 percent to 10 percent. Contemporary Vietnam is like Japan in the 1960s, or China’s “special economic zone” of Shenzhen, now the world’s preeminent electronics manufacturing hub, in the late ’90s. Cheap labor is being employed by foreign companies, many of them Chinese, Korean, or Japanese, to do the manufacturing that has become too expensive within the borders of their own countries. As rising wages in the United States inspired companies to outsource to the original cohort of “Asian tigers,” so too have the economic booms of those countries raised standards of living and led workers to demand higher wages.

., 101, 281 self-driving trucks, 141–57; AI system, 141–43, 147–52, 153; algorithms used by, 151–52, 153; economics of trucking and, 140, 152; fully autonomous system, goal of, 152–57; intersection with humans, 141, 147, 148–51, 155–57; maps and mapping, 142–43, 147; positional systems, 143–47; robotic delivery systems compared, 267–69; software and microchip technology, 145, 152–54; sortation center automation and, 260 Shakopee, MN, Amazon fulfillment center at, 161, 171, 203, 205 Shenzen special economic zone, China, 15, 93 Sherwood, Dennis, 55 shipping containers. See containerized shipping ships and shipping, 25–65; Covid-19 pandemic and, 27–29; crews on, 27–30, 33–34, 42; docking in/leaving port, 32, 36–37, 47–66; harbor pilots, 36–37, 47, 49, 50, 54–55, 58–61, 63, 65; loading/unloading cargo and cargo plan, 27, 30, 32–35, 46, 67; maneuvering ship into dock, 57–66; mooring ropes, 64–65; Pacific Ocean, crossing, 40–43; predictability versus speed in, 35–36; scale of global shipping commerce, 25–26; size of container ships, 26–27, 37, 41–42, 48–49, 53, 61, 62, 63; South China Sea, navigating, 35–40; transferring harbor pilot to docking ship, 47–55, 57–58; tugboats, towing, and towropes, 50, 59–61, 63, 64, 67; twistlocks and lashings securing containers, 34, 69, 84; watch routine, 29–32, 36, 42.


pages: 1,509 words: 416,377

Under the Loving Care of the Fatherly Leader: North Korea and the Kim Dynasty by Bradley K. Martin

anti-communist, Asian financial crisis, colonial rule, cuban missile crisis, Deng Xiaoping, Dr. Strangelove, failed state, Ford Model T, four colour theorem, Great Leap Forward, guns versus butter model, illegal immigration, informal economy, kremlinology, land reform, means of production, Mikhail Gorbachev, military-industrial complex, Neil Armstrong, Potemkin village, profit motive, RAND corporation, Ronald Reagan, Shenzhen special economic zone , special economic zone, stakhanovite, two and twenty, UNCLOS, upwardly mobile, uranium enrichment, women in the workforce, zero-sum game

But North Korean officials were skeptical already about the part of the proposal that called for multinational management of the zone—-which would mean sharing power in their own territory. Thus Pyongyang was proceeding with a parallel go-it-alone approach. On paper, North Korea had already established its first special economic zone at Rajin and Sonbong, inside the territory that would be part of a Tumen Delta multinational zone if the Chinese and others should have their way. Trying to lure investors there—regardless of how the multinational negotiations might turn out—clearly was a big part of what the government had in mind when it admitted our group of visitors.

True, Kim Dal-hyon’s acknowledgment of serious economic difficulties had not yet become the party line; subordinates such as Kim Song-sik continued to assert that all was well and the country was experiencing little ill effect from the changes in other communist nations. And even Kim Dal-hyon insisted that his countrymen “do not have any worries about food, clothing and housing.” Significantly, though, he acknowledged bluntly that “the world is changing” and that creation of special economic zones “is for our survival,” in a world where “there are only a few countries following the socialist model.” Another small example of the new, more enlightened approach: North Korean officials seemed to have realized that outsiders had little stomach for hearing-worshipful encomia to the wondrous leadership of President Kim Il-sung and his son Kim Jong-il.

Article 33, radical by past standards, read: “The State shall introduce a cost accounting system in the economic management … and utilize such economic levers as prime costs, prices and profits.” Article 37 added that the state should encourage “joint venture enterprises with corporations or individuals of foreign countries within a special economic zone.”5 The following year the country enacted an elaborate External Economic Arbitration Law. For a time after that, change once more slowed. Pyongyang-watchers warned that signs of relaxation in the North must be read carefully. Jean-Jacques Grauhar, secretary general of the Seoul-based European Union Chamber of Commerce, previously had worked and lived in Pyongyang for several years.


Superpower Interrupted: The Chinese History of the World by Michael Schuman

Admiral Zheng, British Empire, crony capitalism, Deng Xiaoping, European colonialism, Great Leap Forward, land bank, moveable type in China, Pearl River Delta, place-making, Rubik’s Cube, Shenzhen special economic zone , South China Sea, special economic zone, trade route, urban planning, urban sprawl, women in the workforce

The idea harks back to the old Canton system through which the Qing had both benefited from and controlled foreign trade. It also reminded some conservatives of the foreign “concessions” granted in the infamous “unequal treaties.” Deng, though, instantly approved. Three months later, the central government sanctioned four initial “special economic zones,” all conveniently placed to absorb investment from China’s richer neighbors: in Shenzhen (across the border from posh British Hong Kong), Xiamen (across the strait from wealthy Taiwan), Zhuhai (next to Macau), and Shantou (also on the Guangdong coast). China was open for business once again.

His decision in 1979 to grant China “most-favored nation” status—the right to export to the American market on the best terms offered by Washington—gave the green light to companies to come to China from all over the world, build factories, hire Chinese workers, and ship their goods to rich American consumers. Deng wanted to reconstruct Chinese economic power; the United States made that possible. And the factories did come, sprouting within the new “special economic zones,” like brick and metal rice shoots. Villagers migrated to these enclaves like Israelites to the promised land. And they were, indeed, something of a new Canaan. Sure, the jobs in the new factory towns weren’t milk and honey. The hours were long, the conditions often harsh, the pay was meager—a few dollars a day, if you were lucky.


pages: 451 words: 125,201

What We Owe the Future: A Million-Year View by William MacAskill

Ada Lovelace, agricultural Revolution, Albert Einstein, Alignment Problem, AlphaGo, artificial general intelligence, Bartolomé de las Casas, Bletchley Park, British Empire, Brownian motion, carbon footprint, carbon tax, charter city, clean tech, coronavirus, COVID-19, cuban missile crisis, decarbonisation, deep learning, DeepMind, Deng Xiaoping, different worldview, effective altruism, endogenous growth, European colonialism, experimental subject, feminist movement, framing effect, friendly AI, global pandemic, GPT-3, hedonic treadmill, Higgs boson, income inequality, income per capita, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, Islamic Golden Age, iterative process, Jeff Bezos, job satisfaction, lab leak, Lao Tzu, Large Hadron Collider, life extension, lockdown, long peace, low skilled workers, machine translation, Mars Rover, negative emissions, Nick Bostrom, nuclear winter, OpenAI, Peter Singer: altruism, Peter Thiel, QWERTY keyboard, Robert Gordon, Rutger Bregman, Sam Altman, seminal paper, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, special economic zone, speech recognition, Stanislav Petrov, stem cell, Steven Pinker, strong AI, synthetic biology, total factor productivity, transatlantic slave trade, Tyler Cowen, William MacAskill, women in the workforce, working-age population, World Values Survey, Y Combinator

One particularly interesting idea for promoting cultural diversity of societies is that of charter cities: autonomous communities with laws different from their surrounding countries that serve as laboratories for economic policies and governance systems. For example, in 1979 Deng Xiaoping created a special economic zone around the city of Shenzhen,126 giving it more liberal economic policies than the rest of China. Average yearly income grew by a factor of two hundred over forty years.127 Its success inspired broader economic reforms across China, which, over the course of the last forty years, have lifted hundreds of millions of people out of poverty.128 Charter cities are often promoted by those who want to see more economically liberal policies.

One way of understanding this, without committing oneself to the spooky metaphysics of objective moral truths, is to think of the morally correct view as the moral view that you would come to endorse if you had perfect information and unlimited time to reflect, could experience a diversity of lives, and were exposed to all the relevant arguments. 126. A common myth is that Shenzhen grew from a small fishing village to a huge city over the course of a few decades, but this isn’t true. In 1979, Shenzhen was a market town with some industry and a population of 310,000 (Du 2020, Chapter 1). Special economic zones have been tried in other places, but in spite of some successes like Shenzhen, on average, they have not grown faster than their host country (Bernard and Schukraft 2021). 127. In 1980, per capita income was $122, and in 2019, it was $29,498 (Charter Cities Institute 2019; China Daily 2020; Yuan et al. 2010, 56). 128.


pages: 501 words: 134,867

A Line in the Tar Sands: Struggles for Environmental Justice by Tony Weis, Joshua Kahn Russell

addicted to oil, Bakken shale, bilateral investment treaty, call centre, carbon footprint, clean water, colonial exploitation, conceptual framework, corporate social responsibility, decarbonisation, Deep Water Horizon, en.wikipedia.org, energy security, energy transition, Exxon Valdez, failed state, gentrification, global village, green new deal, guest worker program, happiness index / gross national happiness, high-speed rail, hydraulic fracturing, immigration reform, Intergovernmental Panel on Climate Change (IPCC), investor state dispute settlement, invisible hand, Jevons paradox, liberal capitalism, LNG terminal, market fundamentalism, means of production, megaproject, military-industrial complex, Naomi Klein, new economy, Occupy movement, off-the-grid, oil shale / tar sands, peak oil, profit maximization, public intellectual, race to the bottom, smart grid, special economic zone, WikiLeaks, working poor

China, Canada, and much of the rest of the world are in the grip of market fundamentalism—the promotion of economic growth, and the relentless pursuit of profits. This has led corporations to secure ideal investment climates by any means necessary. When the Free Trade Area of the Americas was defeated, national governments pursued bilateral trade agreements on behalf of their corporate sponsors. And when bilateral agreements were not enough, Special Economic Zones (SEZs) have been established, where corporations write their own labour laws, environmental regulations, and taxation regimes. The proliferation of SEZs and more conventional corporate land grabs in China has resulted in popular uprisings. In 2010, there were an estimated 180,000 mass incidents—that is, protests, riots, and group petitioning.9 In 2011, farmers in Guangdong province protested for months due to land disputes and government land confiscations.

See also Royal Dutch Shell She Speaks: Indigenous Women Speak Out Against Tar Sands, 213 “shock doctrine” economics, 246 Sierra Club, 187, 191, 219, 221, 222, 270, 283, 315 Simon Fraser University, 164 Singleton, Jeanette, 188 Sitting Bull, 118 “smart grids,” 302 Smitten, Susan, 125 social effects, 38 social injustice, 13–14 social justice, 66 social movements, 269, 276, 318–19 social organization, alternative models of, 204 social theory, 37 socio-ecological relations, 306 solar-powered generation, 314 South Africa, 290, 294 Southern peoples’ movements, 168 South Park: “Blame Canada,” 208 Southwest Workers Union, 168, 244 Special Economic Zones (SEZs), 95 Speth, Gus, 170 Stainsby, Macdonald, 65, 70 “staples trap,” 78 Statoil. See Norway steam-assisted gravity drainage (SAGD), 119, 129 Steelworkers’ Union, 219 Steinhardt, Michael, 107 Stevens, Jan, 241 STOP (Stop Tar Sands Oil Pipelines), 191 “Stop the Tar Sands” day of action, 56 Stowe, Harriet Beecher, 160 Strategic Lawsuit Against Public Participation (SLAPP), 188–89 strategic vulnerabilities, 287 strip mining, 8–9 sulphur dioxide emissions, 10–11, 32, 140–41, 182 Suncor, 31, 72, 76, 95, 139, 140, 143–44, 238, 288–89 sustainable development, 49–50 sustainable energy, 34, 49, 204 Suzuki, David, 73, 170 Swann, Dr.


pages: 473 words: 140,480

Factory Man: How One Furniture Maker Battled Offshoring, Stayed Local - and Helped Save an American Town by Beth Macy

8-hour work day, affirmative action, AltaVista, Apollo 13, belly landing, Berlin Wall, Bretton Woods, call centre, company town, corporate governance, corporate raider, creative destruction, currency manipulation / currency intervention, desegregation, gentleman farmer, Great Leap Forward, interchangeable parts, Joseph Schumpeter, new economy, old-boy network, one-China policy, race to the bottom, reshoring, Saturday Night Live, Silicon Valley, Skype, special economic zone, supply-chain management, Thomas L Friedman, union organizing, value engineering, work culture

Purses would be followed by shoes, bags, garments, and suitcases in an export rush that elevated China’s foreign trade to $20.6 billion by the end of 1978. Furniture was bigger and bulkier than purses, yes, but it was not impossible to ship, especially items that could be broken down easily into parts, such as end tables (called occasional tables) and chairs. By 1980, the Chinese government had set up four special economic zones, places where it could experiment with entrepreneurial concepts, including allowing foreign investment and offering tax incentives. Within another decade, Chinese exports would break $100 billion. In the early 1980s, Spilman vented his feelings about Far Eastern competition in a speech he gave before a banquet of furniture manufacturers, including some Asian businessmen.

“We could move again, absolutely. That’s the global phenomenon we’re in. As costs go up, you go, ‘Where are you going next?’ ” Dalian is a seaside city in China’s remote northeastern corner, where the Yellow and Bo Hai Seas meet. Once the country’s largest trade port, the city was designated a Special Economic Zone in 1984, with the goal of putting people to work. Much of the ensuing industrialization was spurred by Mayor Bo Xilai, who would go on to govern the entire Liaoning Province and, as his stature in the Communist Party grew, become the head of China’s Commerce Ministry. Bo drove the transformation of Dalian, turning it from a drab port city into a showcase of China’s rapid economic growth.


The Age of Turbulence: Adventures in a New World (Hardback) - Common by Alan Greenspan

addicted to oil, air freight, airline deregulation, Alan Greenspan, Albert Einstein, asset-backed security, bank run, Berlin Wall, Black Monday: stock market crash in 1987, Bretton Woods, business cycle, business process, buy and hold, call centre, capital controls, carbon tax, central bank independence, collateralized debt obligation, collective bargaining, compensation consultant, conceptual framework, Corn Laws, corporate governance, corporate raider, correlation coefficient, cotton gin, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, cuban missile crisis, currency peg, currency risk, Deng Xiaoping, Dissolution of the Soviet Union, Doha Development Round, double entry bookkeeping, equity premium, everywhere but in the productivity statistics, Fall of the Berlin Wall, fiat currency, financial innovation, financial intermediation, full employment, Gini coefficient, Glass-Steagall Act, Hernando de Soto, income inequality, income per capita, information security, invisible hand, Joseph Schumpeter, junk bonds, labor-force participation, laissez-faire capitalism, land reform, Long Term Capital Management, low interest rates, Mahatma Gandhi, manufacturing employment, market bubble, means of production, Mikhail Gorbachev, moral hazard, mortgage debt, Myron Scholes, Nelson Mandela, new economy, North Sea oil, oil shock, open economy, open immigration, Pearl River Delta, pets.com, Potemkin village, price mechanism, price stability, Productivity paradox, profit maximization, purchasing power parity, random walk, Reminiscences of a Stock Operator, reserve currency, Right to Buy, risk tolerance, Robert Solow, Ronald Reagan, Savings and loan crisis, shareholder value, short selling, Silicon Valley, special economic zone, stock buybacks, stocks for the long run, Suez crisis 1956, the payments system, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thorstein Veblen, Tipper Gore, too big to fail, total factor productivity, trade liberalization, trade route, transaction costs, transcontinental railway, urban renewal, We are all Keynesians now, working-age population, Y2K, zero-sum game

The 1.4 percent annual average net shift of rural to urban population over the last decade has measurably increased China's productivity: the capital stock in urban areas is significantly more sophisticated than that in rural China. That spread has created an urban output per hour more than three times that of rural China. Special Economic Zones (SEZs) inaugurated in 1980, which focused on manufacturing exports in facilities financed by foreign capital, have proved highly successful. Privatization of some stateowned enterprises (SOEs) has made significant progress, and other SOEs are undergoing major restructuring. As a consequence, employment in these organizations has fallen sharply, an indication that creative destruction is moving at a reasonably good clip. 304 More ebooks visit: http://www.ccebook.cn ccebook-orginal english ebooks This file was collected by ccebook.cn form the internet, the author keeps the copyright.

China's export-led explosion in economic growth has clearly followed the earlier path of these Tigers—particularly Hong Kong, Taiwan, Korea, and Singapore. Their model is simple and effective. The developing nation opens up part or all of its economy to foreign investment to employ a lowwage, but often educated, workforce. Sometimes it is politically easier to set up designated geographic areas such as China's Special Economic Zones to welcome foreign investment and its technology. Critical to this model is that investors receive assurances that, if successful, they will be able to reap the rewards. This requires that property rights be respected by the developing country. Given the devastation of Asia in World War II and the wars in Korea and Vietnam, economic advance started from a very low base.

., 23, 109-10 Chicago Fed, 110 Chicago school, deregulation and, 72 Chile, 337, 340 China, 141, 226, 276, 292, 294-310, 3 1 1 , 334n, 389, 503 AG's visits to, 294-97, 299, 301 banks in, 298, 302, 307, 308 creative destruction in, 254, 304 currency of, 302-3, 306 current account surplus of, 351 energy and, 446, 459, 460 foreign direct investment in, 12-13, 296, 304, 311,322 future of, 477-78, 501-2, 503 India compared with, 316-22, 501 market capitalism in, 12, 293, 295-98, 301-2, 318, 365, 382, 477, 501-2, 503 migration restrictions in, 302, 305 one-child policy in, 411 property rights in, 12-13, 251, 254, 293, 296-97, 299, 3 0 9 , 3 2 7 savings in, 386, 483-84 shift of rural workers to cities in, 3 0 4 - 5 , 383-84 Special Economic Zones (SEZs) in, 304—5, 311 technology in, 303, 306, 388 U.S. relations with, 38, 297, 306n wages in, 395, 477 China Banking Regulatory Commission, 308 China National Offshore Oil Corporation ( C N O O C ) , 274 Chirac, Jacques, 287 Christian Science Monitor, 404 Churchill, Winston, 122, 2 8 1 , 344, 465 Citigroup, 316 Civil Aeronautics Board, 71 Civil Rights Act (1964), 246-47 Civil War, U.S., 3 6 3 , 4 8 0 Clark, Howard, 427 Clark, Jim, 164 Clinton, Bill, 58, 142-50, 152-63, 218, 234, 235, 244,297-98 AG reappointed by, 162, 2 0 2 - 3 , 210 budget surplus and, 161, 182-87 congressional trench war of, 148—49 in election of 1992, 114, 147 in election of 1996, 144, 155 millennium events and, 202, 203 senior economic team of, 144-45 technological change and, 160, 170-71 Clinton, Hillary, 142, 202, 203 coal, 2 8 2 , 4 5 0 , 4 5 3 , 4 5 7 Coca-Cola, 50 515 More ebooks visit: http://www.ccebook.cn ccebook-orginal english ebooks This file was collected by ccebook.cn form the internet, the author keeps the copyright.


pages: 482 words: 149,351

The Finance Curse: How Global Finance Is Making Us All Poorer by Nicholas Shaxson

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, activist fund / activist shareholder / activist investor, Airbnb, airline deregulation, Alan Greenspan, anti-communist, bank run, banking crisis, Basel III, Bear Stearns, benefit corporation, Bernie Madoff, Big bang: deregulation of the City of London, Blythe Masters, Boris Johnson, Bretton Woods, British Empire, business climate, business cycle, capital controls, carried interest, Cass Sunstein, Celtic Tiger, central bank independence, centre right, Clayton Christensen, cloud computing, corporate governance, corporate raider, creative destruction, Credit Default Swap, cross-subsidies, David Ricardo: comparative advantage, demographic dividend, Deng Xiaoping, desegregation, Donald Trump, Etonian, export processing zone, failed state, fake news, falling living standards, family office, financial deregulation, financial engineering, financial innovation, forensic accounting, Francis Fukuyama: the end of history, full employment, gig economy, Gini coefficient, Glass-Steagall Act, global supply chain, Global Witness, high net worth, Ida Tarbell, income inequality, index fund, invisible hand, Jeff Bezos, junk bonds, Kickstarter, land value tax, late capitalism, light touch regulation, London Whale, Long Term Capital Management, low skilled workers, manufacturing employment, Mark Zuckerberg, Martin Wolf, megaproject, Michael Milken, Money creation, Mont Pelerin Society, moral hazard, neoliberal agenda, Network effects, new economy, Northern Rock, offshore financial centre, old-boy network, out of africa, Paul Samuelson, plutocrats, Ponzi scheme, price mechanism, proprietary trading, purchasing power parity, pushing on a string, race to the bottom, regulatory arbitrage, rent-seeking, road to serfdom, Robert Bork, Ronald Coase, Ronald Reagan, Savings and loan crisis, seminal paper, shareholder value, sharing economy, Silicon Valley, Skype, smart grid, Social Responsibility of Business Is to Increase Its Profits, South Sea Bubble, sovereign wealth fund, special economic zone, Steve Ballmer, Steve Jobs, stock buybacks, Suez crisis 1956, The Chicago School, Thorstein Veblen, too big to fail, Tragedy of the Commons, transfer pricing, two and twenty, vertical integration, Wayback Machine, wealth creators, white picket fence, women in the workforce, zero-sum game

After a tour of the tax-free zone the delegation was treated to a sing-song at Durty Nelly’s pub – a fact that perhaps helps explain the remarkable warmth with which Bertie Ahern, the Irish Taoiseach (prime minister), was received in Beijing in 1998 by the same bespectacled official, who by then had risen to become President Jiang Zemin. Shannon had inspired China to set up the special economic zones that would prove key to propelling its own subsequent economic growth miracle,2 and it is now regarded with such historical veneration that Xi Jinping and a succession of other top Chinese officials have made the pilgrimage to Shannon since then. ‘The Chinese embassy in London was constantly bringing guys to Shannon, it was a kind of Lourdes to them,’ said Tom Kelleher, a veteran consultant for the Shannon zone.

D. 22, 76, 77 Ross, Wilbur 175, 200–1 Royal Bank of Scotland (RBS) 221, 227 Rubin, Robert 159 Russia 12, 51, 63, 84, 85, 167, 168, 264, 267, 274 Rutherford, Thomas F. 253 Sachsen LB 133 Sainsbury’s 83 Samuelson, Paul 29–30 Sandstorm Report (1991) 145 Saviano, Roberto 64 savings and loan crisis, U.S. (1989) 146, 161, 165 Schreck, Blake 41–4, 48 Schröder, Gerhard 97, 102 Schroder PLC 220 Schumer, Chuck: Sustaining New York’s and the US’ Global Financial Services Leadership 164 Scottish Police Authority 221, 222 Second Bank of the United States 75 Second World War (1939–45) 31, 32, 33, 49, 52, 77 securitisation 128, 151–6, 161, 162, 169, 174, 200 see also special purpose vehicle (SPV) Seides, Ted 209 Serious Fraud Office (SFO) 166 Shannon Airport, Ireland 116–17, 138 shareholders 2, 3, 63, 73, 87, 88, 89, 113, 143, 148, 149, 193, 196, 197, 199, 205, 206, 207, 209, 217, 220–1, 222, 223, 225–7, 233–4, 249, 266 Sheffield University 137, 207, 225, 234 Shelbourne Hotel, Dublin 129 Sheppard, Lee 65–6 Sherman Antitrust Act (1890) 76, 77 Sikka, Professor Prem 66, 237 Sinaloa cartel 12, 167 Sinclair Broadcast Group 88 Singapore 13, 70, 85, 97, 112, 113, 130, 166, 218, 273 Sky 70–1 Slater, Bob 19 Slim, Carlos 184, 185 Smith, Adam: Wealth of Nations 18, 35, 90 Smith, Greg 183 Society of Trust and Estate Practitioners (STEP) 177–8, 182, 185, 186 South Dakota, U.S. 188–9 Southern Cross Healthcare 202 Sovaldi 85–6 Soviet Union 76, 110, 129, 138, 197, 271 special economic zone (SEZ) 117, 130–1, 138 special purpose vehicle (SPV) 63, 66, 128, 134–5, 151–3, 154, 155, 161, 165, 169, 171, 220, 221, 222, 236 Standard Oil 19–21, 26–7, 71, 76, 77 sterling: flotation of 53; Sterling Zone 60, 61 Stewart, Professor Jim 133, 134, 135 Stigler, George 37, 72, 73–4 Stoller, Matt 86, 99 Strathclyde Limited Partnership 220 Strathclyde Police Training and Recruitment Centre, East Kilbride 220–2 streetcar scandal, American 25 structured investment vehicle (SIV) 140 Suez Canal crisis (1956) 54 Summers, Lawrence 159 Switzerland 13, 37, 45, 47, 55–6, 58, 63, 70, 83, 93, 95, 97, 101, 113, 125, 136, 142, 160, 166, 171, 175, 186, 202, 207, 216, 228, 258, 259, 268 Tarbell, Franklin 20 Tarbell, Ida 19–20, 26, 27 Tasker, George 178–9 tax: Celtic Tiger and see Celtic Tiger; City of London and see City of London; corporate tax cuts and competitiveness agenda 13, 26, 29, 30–1, 36, 38–48, 108–9, 113–14, 116–18, 121, 122, 123, 126, 127–30, 137–8, 178, 183, 207, 241–57, 260; high taxes for wealthy, economic growth and 33, 34, 52; inheritance tax 172–3, 182, 234; income tax, introduction of 98; monopolies and see monopolies; neoliberalism and see neoliberalism; private equity and see private equity; Third Way and see Third Way; trusts and see trusts tax havens 1, 2, 3, 4, 5, 8, 13, 23–4, 25, 47, 55–6, 59–68, 84, 85, 86, 87, 92–7, 98, 103, 104, 111–13, 114, 117–18, 119, 120, 121, 122, 123, 125, 129, 130, 131, 132, 136, 137, 138, 140, 141, 142, 145, 150, 151, 152, 153–4, 155, 156, 157, 159, 162, 166, 169, 171, 173, 174–5, 176, 177, 178, 179, 180, 181, 185, 186– 7, 188, 200, 201, 202, 205, 207, 211, 216, 221, 222, 223, 228, 234, 236, 238, 240, 242, 243, 245, 249, 250, 258, 268, 269, 270, 271, 272 see also individual tax haven name Tax Justice Network 5, 67–8, 113, 270 Tett, Gillian: Fool’s Gold 146 Texas Pacific Group (TPG) 201 Thatcher, Margaret 37, 58, 104, 143, 216 The Big Short (film) 154, 235 TheCityUK 257–9 think tanks 13, 37, 74, 178, 216, 241, 247, 251 Third Way 91, 92–115, 121, 122, 159 Thomas, Kenneth 138 Tiebout, Professor Charles 28–9; ‘A Pure Theory of Local Expenditures’ 29, 30–1, 38, 39, 40, 45, 46–7, 48, 73 TIM Hellas 201 Tomlinson Report (2014) 26 Toyota 84 Trainline 1–2, 3, 195 transfer pricing 24, 85 Traynor, Dennis 136 Treasury, U.K. 52, 59, 221, 222, 238, 249, 257–8 Treaty of Rome (1957) 77, 98 Troup, Edward 234 Trump, Donald 88, 100, 108–9, 122, 166, 167, 175, 182, 183, 200, 245, 247, 253–4, 273 trusts 20–2, 61, 62, 66, 169–89, 191, 221, 272 Turks and Caicos 60, 62, 141 21st Century Fox 70 Tyco 235 Union Cold Storage 24–5 United Front 264 United Nations (UN) 4, 104 United States 2, 6, 10, 21, 54, 55, 62, 64, 69, 124, 126, 134, 259, 264, 265, 271; Eurodollar and see Eurodollar/Euromarkets; finance curse and 10–11; London loophole/global financial crisis and 140–68; monopoly/antitrust in 4, 19–22, 71–91; neoliberalism and see neoliberalism; private equity and 194–7, 200–1, 210–11, 214, 225, 235; sabotage in 19–24, 25, 26–7; taxes in 33, 39–49, 108– 9, 183, 244–5, 247, 253–6; Third Way and 98–100, 101; relocation of companies within 39–49 see also Wall Street and individual company name Universal Credit 230 University of Chicago 16, 72, 196 U.S.


pages: 499 words: 152,156

Age of Ambition: Chasing Fortune, Truth, and Faith in the New China by Evan Osnos

conceptual framework, crony capitalism, currency manipulation / currency intervention, David Brooks, Deng Xiaoping, East Village, Evgeny Morozov, fake news, financial independence, Gini coefficient, Great Leap Forward, high-speed rail, income inequality, indoor plumbing, information asymmetry, land reform, Lao Tzu, low skilled workers, market fundamentalism, Mohammed Bouazizi, plutocrats, prosperity theology / prosperity gospel / gospel of success, rolodex, scientific worldview, Silicon Valley, South China Sea, sovereign wealth fund, special economic zone, Steve Jobs, transcontinental railway, Washington Consensus, Xiaogang Anhui farmers, young professional

Wu himself was tagged an “antirevolutionary” and sent off to “reform through labor.” “I experienced a drastic change in ideology,” he told me. By the eighties, Wu was a leading expert on the free market, even though that term was too controversial to utter. Wu had to call it “the commodity economy.” Beginning in 1980, China designated special economic zones, which used tax advantages to attract foreign investment, technology, and links to customers abroad. The zones needed workers. Since the fifties, the Party had controlled where people lived by dividing households into two types: rural and urban. The distinction ordained where you were born, schooled, employed, and, most likely, buried.

Cafferty, Jack Caijing; government approval required for; growth of; investors in; management buyout plan of Cao, Henry Cao, Leo Caochangdi Cao family Cao Haili Cao Qifeng Carrefour Carter, Jimmy Catholicism Célestin Monga cell phones censorship Central Intelligence Agency (CIA) Central Japan Railway Central Publicity (Propaganda) Department; Caijing and; on train crash century of national humiliation Charter 08 Charter 77 Chen Chen Danqing Chen Guangcheng; escape of; house arrest of; in prison; release of Chen Guangfu Chen Guojun Cheng Yizhong Chen Jieren Chen Kegui Chen Xianmei Chen Yun Chen Yunying Cheung Chi-tai Cheung Yan Chicago Tribune Chim Pui-chung China: alleged currency manipulation of; anti-Japanese protests in; average income in; billionaires in; bloggers in; capitalist reforms in; censorship in; central bank of; civil war in; constitution of; creative class in; economic growth in; food in; happiness in; history studies in; housing prices in; inequality in; intergenerational mobility in; Internet use in; investment in; Japanese occupation of; Japan’s Diaoyu Islands dispute with; Jasmine protests in; labor migration in; land reform in; life expectancy in; literacy rates in; luxury goods in; popular approval of; press in; real estate boom in; revolution in; special economic zones in; spiritual awakening in; stereotypes of; stimulus plan in; stock markets in; tax system in; Tibet protests in; travel from; Uighur-Han riot in; urban growth in; Western culture as perceived by China, U.S. relationship with; Belgrade embassy bombing and; and Chinese crackdown on Internet; Mao’s establishment of; U.S. recognition of ChinaAid China Business Times China Can Say No China Center for Economic Research China Central Television China Daily China eCapital China Entrepeneur ChinaGeeks China Miracle, The (Lin, Cai and Li) China Mobile China Newsweek China Railway Signal and Communication Corporation China Stand Up!


pages: 391 words: 71,600

Hit Refresh: The Quest to Rediscover Microsoft's Soul and Imagine a Better Future for Everyone by Satya Nadella, Greg Shaw, Jill Tracie Nichols

3D printing, AlphaGo, Amazon Web Services, anti-globalists, artificial general intelligence, augmented reality, autonomous vehicles, basic income, Bretton Woods, business process, cashless society, charter city, cloud computing, complexity theory, computer age, computer vision, corporate social responsibility, crowdsourcing, data science, DeepMind, Deng Xiaoping, Donald Trump, Douglas Engelbart, driverless car, Edward Snowden, Elon Musk, en.wikipedia.org, equal pay for equal work, everywhere but in the productivity statistics, fault tolerance, fulfillment center, Gini coefficient, global supply chain, Google Glasses, Grace Hopper, growth hacking, hype cycle, industrial robot, Internet of things, Jeff Bezos, job automation, John Markoff, John von Neumann, knowledge worker, late capitalism, Mars Rover, Minecraft, Mother of all demos, Neal Stephenson, NP-complete, Oculus Rift, pattern recognition, place-making, Richard Feynman, Robert Gordon, Robert Solow, Ronald Reagan, Salesforce, Second Machine Age, self-driving car, side project, Silicon Valley, Skype, Snapchat, Snow Crash, special economic zone, speech recognition, Stephen Hawking, Steve Ballmer, Steve Jobs, subscription business, TED Talk, telepresence, telerobotics, The Rise and Fall of American Growth, The Soul of a New Machine, Tim Cook: Apple, trade liberalization, two-sided market, universal basic income, Wall-E, Watson beat the top human players on Jeopardy!, young professional, zero-sum game

Unlike the rest of China, Shenzhen’s rules would be attractive to foreign investment and international trade. He knew that Communist China would be slow to embrace these reform zones, but many entrepreneurs and workers would leap at the opportunity. Shenzhen grew from a town of thirty thousand people to a global financial center of nearly 11 million residents after it was designated as a special economic zone in 1980. We also need to continue to promote free and fair trade. If we want to see growth and see it more broadly, opening up more markets and clearing barriers to trade for entrepreneurs is an essential step. It’s unfortunate that, in recent years, populist politicians on both the left and the right have campaigned on pledges to overturn free-trade agreements.


pages: 262 words: 66,800

Progress: Ten Reasons to Look Forward to the Future by Johan Norberg

agricultural Revolution, anti-communist, availability heuristic, Bartolomé de las Casas, Berlin Wall, bread and circuses, British Empire, business climate, carbon tax, classic study, clean water, continuation of politics by other means, Daniel Kahneman / Amos Tversky, demographic transition, desegregation, Donald Trump, Edward Jenner, Flynn Effect, germ theory of disease, Gini coefficient, Great Leap Forward, Gunnar Myrdal, Haber-Bosch Process, Hans Island, Hans Rosling, Ignaz Semmelweis: hand washing, income inequality, income per capita, indoor plumbing, Isaac Newton, Jane Jacobs, John Snow's cholera map, Kibera, Louis Pasteur, Mahatma Gandhi, meta-analysis, Mikhail Gorbachev, more computing power than Apollo, moveable type in China, Naomi Klein, Nelson Mandela, open economy, place-making, Rosa Parks, sexual politics, special economic zone, Steven Pinker, telerobotics, The Wealth of Nations by Adam Smith, transatlantic slave trade, very high income, working poor, Xiaogang Anhui farmers, zero-sum game

As we saw in the case of the farmers in Xiaogang, they often did so without official recognition, but it inspired the leadership to think differently. In its efforts to raise the country out of its abysmal poverty, the Chinese communist party learned from the Asian ‘tiger’ economies of South Korea, Taiwan, Hong Kong and Singapore, but also from local experiments with private farming and township enterprises. So it allowed special economic zones in Guangdong from 1980, which were exempt from the rules of the command economy. Production was mostly based on market forces, international investments and technologies were welcome, and they could engage in international trade. Business there combined investments from Hong Kong and Taiwan, received workers from northern provinces and sold to Western markets.


Smart Cities, Digital Nations by Caspar Herzberg

Asian financial crisis, barriers to entry, business climate, business cycle, business process, carbon footprint, clean tech, clean water, cloud computing, corporate social responsibility, Dean Kamen, demographic dividend, Edward Glaeser, Edward Snowden, Hacker News, high-speed rail, hive mind, Internet of things, knowledge economy, Masdar, megacity, New Urbanism, operational security, packet switching, QR code, remote working, RFID, rising living standards, risk tolerance, Ronald Reagan, shareholder value, Silicon Valley, Silicon Valley startup, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, smart meter, social software, special economic zone, Stephen Hawking, telepresence, too big to fail, trade route, transcontinental railway, upwardly mobile, urban planning, urban sprawl, women in the workforce, working poor, X Prize

Nusajaya is the core of a Malaysia 2.0 grand strategy that emphasizes open access and new standards for connectivity in all city functions. Like the Delhi-Mumbai Industrial Corridor, which it rivals in size and ambition, Nusajaya will grow in fits and starts as pieces of the master plans are built out and mature. In scope, it dwarfs even Songdo in geography—at 24,000 contiguous acres, it is part of the Iskandar special economic zone in Johor—and as a component of national strategy, it rivals India’s DMIC in importance. In 2011, Cisco signed agreements with two of Nusajaya’s largest developers to create the smart and connected master plan. The company was convinced that the developers saw the potential of combining services from the outset of this enormous building plan, making use of existing infrastructure and building a new, greenfield one.


pages: 777 words: 186,993

Imagining India by Nandan Nilekani

"World Economic Forum" Davos, addicted to oil, affirmative action, Airbus A320, BRICs, British Empire, business process, business process outsourcing, call centre, carbon credits, carbon tax, clean water, colonial rule, corporate governance, cuban missile crisis, deindustrialization, demographic dividend, demographic transition, Deng Xiaoping, digital map, distributed generation, electricity market, farmers can use mobile phones to check market prices, flag carrier, full employment, ghettoisation, glass ceiling, global supply chain, Hernando de Soto, income inequality, informal economy, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), joint-stock company, knowledge economy, land reform, light touch regulation, LNG terminal, load shedding, low cost airline, Mahatma Gandhi, market fragmentation, mass immigration, Mikhail Gorbachev, Network effects, new economy, New Urbanism, open economy, Parag Khanna, pension reform, Potemkin village, price mechanism, public intellectual, race to the bottom, rent control, rolodex, Ronald Reagan, school vouchers, Silicon Valley, smart grid, special economic zone, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, Tragedy of the Commons, transaction costs, trickle-down economics, unemployed young men, upwardly mobile, urban planning, urban renewal, women in the workforce, working poor, working-age population

Postindependence, land politics became even more complicated, especially the failed land reform and redistribution efforts of the 1950s and 1960s. Today the politics of land in India still has a deeply adversarial texture—it is seen primarily as a battle between the powerful and the powerless. In the 1960s and 1970s, it was the zamindars on top, but lately it is companies eager to establish special economic zones (SEZs) in partnership with state governments that are seen as new, autocratic overlords. Singur and Nandigram’s highly public battles over land reallocation for businesses are only the most visible signs of the continuing ugliness in our land politics. These disputes stem from the convoluted Indian laws around property.

slums smallpox “smart cards,” Smith, Adam Soares, Father socialism Socialist Party (SP) social security Society for Education, Action and Research in Community Health (SEARCH) software industry software technology parks (STPs) solar energy solar thermal energy (STE) Somalia Someshwar, Shiv sorghum South Africa South Korea Soviet Union; see also Russia Soylent Green “Spark School-in-a-Box,” special economic zones (SEZs) special interest groups Spielberg, Steven Sri Lanka Srinagar Srinivas, M. N. Sriram, Lala Sriramulu, Potti Stalin, Joseph Standard-Vacuum Oil State Bank of India State Finance Commission (SFC) State of Democracy in South Asia State of Higher Education Report (1985) State of India’s Environment,The (1982) States Reorganisation Committee steel sterilization Stern, Nicholas Stern Review on the Economics of Climate Change Stiglitz, Joseph Subramaniam.


pages: 741 words: 179,454

Extreme Money: Masters of the Universe and the Cult of Risk by Satyajit Das

"RICO laws" OR "Racketeer Influenced and Corrupt Organizations", "there is no alternative" (TINA), "World Economic Forum" Davos, affirmative action, Alan Greenspan, Albert Einstein, algorithmic trading, Andy Kessler, AOL-Time Warner, Asian financial crisis, asset allocation, asset-backed security, bank run, banking crisis, banks create money, Basel III, Bear Stearns, behavioural economics, Benoit Mandelbrot, Berlin Wall, Bernie Madoff, Big bang: deregulation of the City of London, Black Swan, Bonfire of the Vanities, bonus culture, book value, Bretton Woods, BRICs, British Empire, business cycle, buy the rumour, sell the news, capital asset pricing model, carbon credits, Carl Icahn, Carmen Reinhart, carried interest, Celtic Tiger, clean water, cognitive dissonance, collapse of Lehman Brothers, collateralized debt obligation, corporate governance, corporate raider, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency risk, Daniel Kahneman / Amos Tversky, deal flow, debt deflation, Deng Xiaoping, deskilling, discrete time, diversification, diversified portfolio, Doomsday Clock, Dr. Strangelove, Dutch auction, Edward Thorp, Emanuel Derman, en.wikipedia.org, Eugene Fama: efficient market hypothesis, eurozone crisis, Everybody Ought to Be Rich, Fall of the Berlin Wall, financial engineering, financial independence, financial innovation, financial thriller, fixed income, foreign exchange controls, full employment, Glass-Steagall Act, global reserve currency, Goldman Sachs: Vampire Squid, Goodhart's law, Gordon Gekko, greed is good, Greenspan put, happiness index / gross national happiness, haute cuisine, Herman Kahn, high net worth, Hyman Minsky, index fund, information asymmetry, interest rate swap, invention of the wheel, invisible hand, Isaac Newton, James Carville said: "I would like to be reincarnated as the bond market. You can intimidate everybody.", job automation, Johann Wolfgang von Goethe, John Bogle, John Meriwether, joint-stock company, Jones Act, Joseph Schumpeter, junk bonds, Kenneth Arrow, Kenneth Rogoff, Kevin Kelly, laissez-faire capitalism, load shedding, locking in a profit, Long Term Capital Management, Louis Bachelier, low interest rates, margin call, market bubble, market fundamentalism, Market Wizards by Jack D. Schwager, Marshall McLuhan, Martin Wolf, mega-rich, merger arbitrage, Michael Milken, Mikhail Gorbachev, Milgram experiment, military-industrial complex, Minsky moment, money market fund, Mont Pelerin Society, moral hazard, mortgage debt, mortgage tax deduction, mutually assured destruction, Myron Scholes, Naomi Klein, National Debt Clock, negative equity, NetJets, Network effects, new economy, Nick Leeson, Nixon shock, Northern Rock, nuclear winter, oil shock, Own Your Own Home, Paul Samuelson, pets.com, Philip Mirowski, Phillips curve, planned obsolescence, plutocrats, Ponzi scheme, price anchoring, price stability, profit maximization, proprietary trading, public intellectual, quantitative easing, quantitative trading / quantitative finance, Ralph Nader, RAND corporation, random walk, Ray Kurzweil, regulatory arbitrage, Reminiscences of a Stock Operator, rent control, rent-seeking, reserve currency, Richard Feynman, Richard Thaler, Right to Buy, risk free rate, risk-adjusted returns, risk/return, road to serfdom, Robert Shiller, Rod Stewart played at Stephen Schwarzman birthday party, rolodex, Ronald Reagan, Ronald Reagan: Tear down this wall, Satyajit Das, savings glut, shareholder value, Sharpe ratio, short selling, short squeeze, Silicon Valley, six sigma, Slavoj Žižek, South Sea Bubble, special economic zone, statistical model, Stephen Hawking, Steve Jobs, stock buybacks, survivorship bias, tail risk, Teledyne, The Chicago School, The Great Moderation, the market place, the medium is the message, The Myth of the Rational Market, The Nature of the Firm, the new new thing, The Predators' Ball, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, trickle-down economics, Turing test, two and twenty, Upton Sinclair, value at risk, Yogi Berra, zero-coupon bond, zero-sum game

Possessing these staples and their innumerable native adjuncts, they do not need to buy a penny’s worth elsewhere.”12 China now engaged with the global economy, reversing the traditional policy of economic self-reliance. Modeled on the post-war recovery of Japan, China used trade to accelerate the growth and modernization of its economy. Special economic zones (SEZ), for example in Shenzen, located strategically close to Hong Kong, were established to encourage investment and industry, taking advantage of China’s large, cheap labor force. Benefiting from rising costs in neighboring Asian countries, China attracted significant foreign investment, technology, management, and trading skills, from countries keen to outsource manufacturing to lower cost locations.

., 274 Skull and Bones, 148 Sloan School of Management at MIT, 96 slowness movements, 364 Slutsky, Eugene, 128 small-firm effect, 126 Smith, Adam, 23, 102, 129, 252, 320, 361 paper money, 27 Snail House, 351 snuff movies, 335 Social Insurance and Allied Services, 47 social security, 48 Société Générale (SG or Soc-Gen), 29, 226-228, 349 solid forms of money, 25 Solomon, David, 145 solutions, global financial crisis, 352-354 Sons of Gwalia (SoG), 216 Soros, George, 240, 242, 302, 326-327, 341 Sosin, Howard, 230 Sotheby’s, 323 South African rands, 21 South Sea Company, 53 Southern District of New York, 150 sovereign debt, 236-238 Soviet Union, 30 special economic zones (SEZ), 85 special purpose entity rules (SPE), 57 Spectator ab Extra, 326 speculation, 311 bubble economies, 54 debt and, 274-275 economy, 52 speculators, 88 Spencer, Herbert, 281 spontaneous symmetry breaking, 204 spreads, 169 Square Mile, the (London), 79 Squawk Box, 94 stabilization funds, 354 of global trade, 349 Stadler, Robert, 302 stagflation, 138 stagnation, 357 Stamford, Connecticut, 80 Standard & Poor’s (S&P), 141, 282 Standard Oil of Ohio (Sohio), 57 standards accounting, 289 gold, 29-31.


pages: 816 words: 191,889

The Long Game: China's Grand Strategy to Displace American Order by Rush Doshi

"World Economic Forum" Davos, American ideology, anti-communist, Asian financial crisis, autonomous vehicles, Black Lives Matter, Bretton Woods, capital controls, coronavirus, COVID-19, crony capitalism, cross-border payments, cryptocurrency, defense in depth, deindustrialization, Deng Xiaoping, deplatforming, disinformation, Dissolution of the Soviet Union, Donald Trump, drone strike, energy security, European colonialism, eurozone crisis, financial innovation, George Floyd, global pandemic, global reserve currency, global supply chain, global value chain, Great Leap Forward, high-speed rail, Internet Archive, Internet of things, Kickstarter, kremlinology, Malacca Straits, middle-income trap, Mikhail Gorbachev, MITM: man-in-the-middle, Monroe Doctrine, Network effects, Nixon triggered the end of the Bretton Woods system, offshore financial centre, positional goods, post-truth, purchasing power parity, RAND corporation, reserve currency, rolodex, Ronald Reagan, South China Sea, special drawing rights, special economic zone, TikTok, trade liberalization, transaction costs, UNCLOS, UNCLOS, undersea cable, zero-sum game

“If China wants to withstand the pressure of hegemonism and power politics,” Deng argued, “it is crucial for us to achieve rapid economic growth and to carry out our development strategy.”8 This strategy, often referred to as “reform and opening,” was inaugurated in 1978 at the historic 3rd Plenum of the 11th Central Committee and launched the country on what the Party called “a new Long March to make China a modern, powerful socialist country.”9 The reform package was inextricably tied to the international economy. China sought new markets for Chinese goods, and it sought to produce those goods by attracting foreign capital through special economic zones, joint ventures, and reforms to the rule of law. Technology transfer was also a critical focus of these efforts. At the 3rd Plenum, Deng elevated the “four modernizations”—a concept that focused on modernizing agriculture, industry, defense, and science and technology. “The crux of the four modernizations,” Deng declared earlier that year, “is the mastery of modern science and technology.

See also port projects Second Artillery Corps, 90–92, 93–94 Second Gulf War, 88 Second Opium War, 28 Second Sino-Japanese War, 29 Second World War, 6, 183, 277, 300–1, 314, 330–31 secrecy, 17 Securities and Exchange Commission, 254–55 security threats, 18t, See also terrorism Seeking Truth, 42–43 Selected Works (Deng), 51 self-constraint policy, 108 Self-Strengthening Movement, 28 Senior Officials Conference, 229 Senkaku/Diaoyu islands, 308 September 11, 2001 terrorist attacks, 129 Serbia, 132–33 Shambaugh, David, 26, 37, 52 Shanghai Cooperation Organization (SCO) alternative explanations for China’s engagement, 127–28 background of China’s participation in, 126–33 China’s support for modest institutionalization, 129–30 and multipolarity discourse, 165 and political blunting strategies, 102, 123, 132–33 and political building strategies, 215, 226, 232 as response to US threat, 128–33 security benefits of, 130–33 Shanghai Five, 126, 132 Shanghai Institute of International Studies, 274–75 Shangri-La Dialogue, 122–23 Shang SSN, 84 shashoujian weapons systems and aircraft carrier technology, 99 alternative explanations for, 80–82 and China’s shifting priorities, 69–70 and Chinese military texts, 71 as element of blunting strategy, 73–74 growing urgency of, 79–80 and legacy of the Gulf War, 74–77 strategic tradeoffs, 78–79 Shipborne Weapons, 85–86 shipbuilding industry, 1, 94–95, 189–90, 191–92, 194, 202–3 Shirk, Susan, 108–9 Shi Yunsheng, 83–84 signals intelligence, 47 Silk Road, 232 Singapore, 175, 202–3, 236 Sino-Indian border, 297–98, 307–8 Sino-Japanese War, 28 Sizzler missiles, 85 skeptics of China strategy, 7–8 Society for World Interbank Financial Telecommunication (SWIFT), 246–47, 249–54 Solomon Islands, 295, 320 SONAR systems, 201 Song, Weiqing, 130 Song-class submarines, 84–85 South Asia, 22 South China Sea and China’s acquisition of aircraft carriers, 98 and China’s expansionist goals, 4 and China’s global ambitions, 278 and China’s military modernization, 70–71, 81–82, 90–91, 96–97 and China’s role in ASEAN institutions, 121, 124–25 and China’s role in regional institutions, 132–33 and departures from Deng’s approach, 175 and evolution of China’s political strategies, 108 and military building strategies, 184–85, 188–89, 195, 202, 204–5 and US asymmetric strategies, 297–98, 304–5, 307–8, 318 South China Sea Code of Conduct, 108 Southeast Asian Treaty Organization, 120–21 South Korea, 202–3, 213–14, 223–24, 327–29 and US asymmetric strategies, 305 South Vietnam, 94 sovereignty issues, 132 Soviet collapse and changing US-China relationship, 48, 51 and China’s military modernization, 69–70, 71, 72–73 and China’s perception of US threat, 55–56 and China’s use of regional institutions, 105–6 and Chinese Leninism, 26 impact on China’s trade strategies, 135–36, 137, 138–40, 141, 147–48 and multipolarity discourse, 162 and overview of China’s grand strategy, 4 and political blunting strategies, 102, 107 and post-Cold War geopolitics, 52–53 and US asymmetric strategies, 308 Soviet Union and American declinism narrative, 331, 332 and changing US-China relationship, 50–51 and China’s acquisition of aircraft carriers, 191, 193–94 and China’s global ambitions, 272, 284–85 and China’s military modernization, 72, 95–96 and China’s perception of US threat, 55 and Cold War geopolitics, 50–53 and Cold War studies, 2–3 and context of China’s goals, 6–7 contrasted with US, 25 and Deng’s “Tao Guang Yang Hui,” 64 and US asymmetric strategies, 316–17 See also Soviet collapse Sovremenny class destroyers, 198–99 special drawing rights (SDR), 247, 248–49 special economic zones, 137 Special Working Group, 227, 229 speeches as source material, 42–43, 42t Spence, Aiken, 243–44 Spratly Islands, 98 Sri Lanka, 207, 241–44, 245, 295, 319, 320 Stalin, Joseph, 50–51 Standard and Poor’s, 254–55 standard-setting bodies, 328 Standing Committee, 57, 150, 153–54 State Council, 33–35, 91 State Oceanic Administration, 183, 189–90, 193–94, 206–7, 294–95 state-owned enterprises (SOEs), 244 status of force agreements, 324 stealth technology, 68, 83–84, 198–99 Steinberg, Jim, 306 STEM training, 326 “stickiness” of grand strategy, 18–19 Storey, Ian, 94–95 strategic guidelines, 64–65 strategic lines of communication (SLOCs), 187–88, 190, 195–96, 205, 293–94 strategy defined, 15.


pages: 1,309 words: 300,991

Vanished Kingdoms: The Rise and Fall of States and Nations by Norman Davies

anti-communist, Berlin Wall, British Empire, Celtic Tiger, classic study, Corn Laws, en.wikipedia.org, energy security, Evgeny Morozov, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, labour mobility, land tenure, mass immigration, Mikhail Gorbachev, military-industrial complex, oil rush, oil shale / tar sands, Red Clydeside, Ronald Reagan, Skype, special economic zone, trade route, urban renewal, WikiLeaks

In 1998, to retake control, Moscow declared a state of emergency.3 At the very end of the century, concerted efforts were made to rescue the failed city by the rehabilitation both of its physical infrastructure and its social fabric. Modern buildings were constructed, eyesores were cleared, roads mended and trees planted. Drug gangs were rounded up, protection rings closed down, and foreign smuggling stifled. The aim was to turn Kaliningrad into the hub of a Special Economic Zone, a ‘Baltic Hong Kong’ attracting new enterprises, casinos and tourist hotels. The European Union, eager to contain the danger on its borders, offered far-reaching advice and co-operation.4 In the course of Vladimir Putin’s two presidential terms, from 2000 to 2008, Russia, though patently only pseudo-democratic, made considerable progress towards greater stability and prosperity, and Kaliningrad’s downward slide was halted.

And though the Kaliningrad oblast regenerates, the adjacent districts in Poland and Lithuania, now inside the European Union, regenerate much faster.8 Two factors inhibit Kaliningrad’s would-be renaissance. One derives from the nature of the Putin regime itself. If crime, corruption and a hidden local hierarchy lie at the heart of the problem, the centralized authoritarian system is unlikely to cure it; the Special Economic Zone may well prove to be more of a money-spinning outpost of Kremlin Corp than a motor of local well-being. One of the most successful, government-backed enterprises, the Baltic Tobacco Factory (BTF), turns out to be specially designed for smuggling cigarettes into Germany. It mass-produces the ex-Chinese Jin Ling brand in packets that are suspiciously similar to those of Camel cigarettes, except that a goat has replaced the camel.9 Further inhibitions stem from the pathological proportions of the Russian military presence.

I 1. http://russia.rin.ru/guides_e/2780.html (2008). 2. Bert Hoppe, ‘Traces of a Virtual History in a Real City’, National Centre for Contemporary Art, http://www.art-guide.ncca-kaliningrad.ru (2010). 3. A. Torello, ‘Kaliningrad, Adrift in Europe’, SAIS Review, 25/1 (2005), pp. 139–41. 4. Special Economic Zone, www.kaliningrad-rda.org/en/kgd/sez.php (2008). 5. Camiel Eurlings (ed.), Report: Kaliningrad Region, Working Group of the EU-Russia Parliamentary Co-operation Committee, 9–11 October 2005. European Parliament, PE.358.347. 6. Grant Heard, ‘The Baltic Kaliningrad’, http://depts.washington.edu/baltic/papers/kaliningrad.html (2008).


Vanished Kingdoms by Norman Davies

anti-communist, Berlin Wall, British Empire, Celtic Tiger, classic study, Corn Laws, en.wikipedia.org, energy security, Evgeny Morozov, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, labour mobility, land tenure, mass immigration, Mikhail Gorbachev, military-industrial complex, oil rush, oil shale / tar sands, Red Clydeside, Ronald Reagan, Skype, special economic zone, trade route, urban renewal, WikiLeaks

In 1998, to retake control, Moscow declared a state of emergency.3 At the very end of the century, concerted efforts were made to rescue the failed city by the rehabilitation both of its physical infrastructure and its social fabric. Modern buildings were constructed, eyesores were cleared, roads mended and trees planted. Drug gangs were rounded up, protection rings closed down, and foreign smuggling stifled. The aim was to turn Kaliningrad into the hub of a Special Economic Zone, a ‘Baltic Hong Kong’ attracting new enterprises, casinos and tourist hotels. The European Union, eager to contain the danger on its borders, offered far-reaching advice and co-operation.4 In the course of Vladimir Putin’s two presidential terms, from 2000 to 2008, Russia, though patently only pseudo-democratic, made considerable progress towards greater stability and prosperity, and Kaliningrad’s downward slide was halted.

And though the Kaliningrad oblast regenerates, the adjacent districts in Poland and Lithuania, now inside the European Union, regenerate much faster.8 Two factors inhibit Kaliningrad’s would-be renaissance. One derives from the nature of the Putin regime itself. If crime, corruption and a hidden local hierarchy lie at the heart of the problem, the centralized authoritarian system is unlikely to cure it; the Special Economic Zone may well prove to be more of a money-spinning outpost of Kremlin Corp than a motor of local well-being. One of the most successful, government-backed enterprises, the Baltic Tobacco Factory (BTF), turns out to be specially designed for smuggling cigarettes into Germany. It mass-produces the ex-Chinese Jin Ling brand in packets that are suspiciously similar to those of Camel cigarettes, except that a goat has replaced the camel.9 Further inhibitions stem from the pathological proportions of the Russian military presence.

I 1. http://russia.rin.ru/guides_e/2780.html (2008). 2. Bert Hoppe, ‘Traces of a Virtual History in a Real City’, National Centre for Contemporary Art, http://www.art-guide.ncca-kaliningrad.ru (2010). 3. A. Torello, ‘Kaliningrad, Adrift in Europe’, SAIS Review, 25/1 (2005), pp. 139–41. 4. Special Economic Zone, www.kaliningrad-rda.org/en/kgd/sez.php (2008). 5. Camiel Eurlings (ed.), Report: Kaliningrad Region, Working Group of the EU-Russia Parliamentary Co-operation Committee, 9–11 October 2005. European Parliament, PE.358.347. 6. Grant Heard, ‘The Baltic Kaliningrad’, http://depts.washington.edu/baltic/papers/kaliningrad.html (2008).


pages: 256 words: 76,433

Overdressed: The Shockingly High Cost of Cheap Fashion by Elizabeth L. Cline

big-box store, biodiversity loss, business cycle, clean water, East Village, export processing zone, feminist movement, high-speed rail, income inequality, informal economy, invention of the sewing machine, Maui Hawaii, McMansion, megacity, messenger bag, Multi Fibre Arrangement, race to the bottom, rolling blackouts, Skype, special economic zone, trade liberalization, Triangle Shirtwaist Factory, upwardly mobile, Veblen good

Lily and I were glued to the windows, watching the city’s cloud-kissing skyscrapers put on a spectacular Vegas-style light show. One building was laced with neon blue zigzags that danced in the rainy reflection on the car windows. Shenzhen dazzled us completely. The city is the stuff of legend. Thirty years ago it was a little dot of a place, a fishing village of thirty thousand people.24 It was China’s first special economic zone, set up in 1980 to gift foreign investors with low tax rates and exemptions on import duties for parts and materials used in export processing. From there it grew faster than anything the world had ever seen. The economy expanded on average 28 percent per year between 1980 and 2008.25 Factories went up overnight.


pages: 206 words: 9,776

Rebel Cities: From the Right to the City to the Urban Revolution by David Harvey

Alan Greenspan, Bretton Woods, business cycle, collateralized debt obligation, commoditize, creative destruction, David Graeber, deindustrialization, financial innovation, Garrett Hardin, gentrification, Guggenheim Bilbao, Hernando de Soto, high-speed rail, housing crisis, illegal immigration, indoor plumbing, invisible hand, Jane Jacobs, late capitalism, Lewis Mumford, Long Term Capital Management, low interest rates, market bubble, market fundamentalism, means of production, military-industrial complex, moral hazard, mortgage debt, mortgage tax deduction, Murray Bookchin, New Urbanism, Ponzi scheme, precariat, profit maximization, race to the bottom, radical decentralization, Robert Shiller, Savings and loan crisis, special economic zone, the built environment, the High Line, The Wealth of Nations by Adam Smith, Tragedy of the Commons, transcontinental railway, urban planning, We are the 99%, William Langewiesche, Works Progress Administration

Its pace picked up enor­ mously after a brief recession in 1 99 7 or so. More than a hundred cities have passed th e 1 million population mark in the last twenty years, and small villages, like Shenzhen, have become huge metropolises of 6 to 1 0 million people. Industrialization was a t first concentrated i n t h e special economic zones, but then rapidly diffused o utwards to any mun icipality willing to absorb the surplus capital from abroad and plough back the earnings into rapid expansion. Vast infrastructural projects, such as dams and h ighways- aga in, all debt-financed-are transforming the land­ scape.9 Equally vast shopping malls, science parks, airports, container 12 REBEL CITIES ports, pleasure palaces of all kinds, and all manner of n ewly minted cul­ tural institutions, along with gated communities and golf courses, dot the Chinese landscape in the midst of overcrowded urban dormitories for the massive lab or reserves being mobilized from the impoverished rural regions that supply the m igrant labor.


pages: 333 words: 76,990

The Long Good Buy: Analysing Cycles in Markets by Peter Oppenheimer

Alan Greenspan, asset allocation, banking crisis, banks create money, barriers to entry, behavioural economics, benefit corporation, Berlin Wall, Big bang: deregulation of the City of London, Black Monday: stock market crash in 1987, book value, Bretton Woods, business cycle, buy and hold, Cass Sunstein, central bank independence, collective bargaining, computer age, credit crunch, data science, debt deflation, decarbonisation, diversification, dividend-yielding stocks, equity premium, equity risk premium, Fall of the Berlin Wall, financial engineering, financial innovation, fixed income, Flash crash, foreign exchange controls, forward guidance, Francis Fukuyama: the end of history, general purpose technology, gentrification, geopolitical risk, George Akerlof, Glass-Steagall Act, household responsibility system, housing crisis, index fund, invention of the printing press, inverted yield curve, Isaac Newton, James Watt: steam engine, Japanese asset price bubble, joint-stock company, Joseph Schumpeter, Kickstarter, Kondratiev cycle, liberal capitalism, light touch regulation, liquidity trap, Live Aid, low interest rates, market bubble, Mikhail Gorbachev, mortgage debt, negative equity, Network effects, new economy, Nikolai Kondratiev, Nixon shock, Nixon triggered the end of the Bretton Woods system, oil shock, open economy, Phillips curve, price stability, private sector deleveraging, Productivity paradox, quantitative easing, railway mania, random walk, Richard Thaler, risk free rate, risk tolerance, risk-adjusted returns, Robert Shiller, Robert Solow, Ronald Reagan, Savings and loan crisis, savings glut, secular stagnation, Shenzhen special economic zone , Simon Kuznets, South Sea Bubble, special economic zone, stocks for the long run, tail risk, Tax Reform Act of 1986, technology bubble, The Great Moderation, too big to fail, total factor productivity, trade route, tulip mania, yield curve

In parallel, about this time China was also beginning to open up its economy and embark on reforms. Following the landmark 1978 Chinese reforms that started the ‘household responsibility system’ in the countryside, giving some farmers ownership of their products for the first time, the first ‘special economic zone’ was formed in Shenzhen in 1980. This concept allowed for the introduction and experimentation of more flexible market policies. Although the reforms were slow and not without controversy, by 1984 it became permissible to form individual enterprises with fewer than eight people and, by 1990, a year after the fall of the Berlin Wall, the first stock markets were opened in Shenzhen and Shanghai.


pages: 237 words: 74,109

Uncanny Valley: A Memoir by Anna Wiener

autonomous vehicles, back-to-the-land, basic income, behavioural economics, Blitzscaling, blockchain, blood diamond, Burning Man, call centre, charter city, cloud computing, cognitive bias, cognitive dissonance, commoditize, crowdsourcing, cryptocurrency, dark triade / dark tetrad, data science, digital divide, digital nomad, digital rights, end-to-end encryption, Extropian, functional programming, future of work, gentrification, Golden Gate Park, growth hacking, guns versus butter model, housing crisis, Jane Jacobs, job automation, knowledge worker, Lean Startup, means of production, medical residency, microaggression, microapartment, microdosing, new economy, New Urbanism, Overton Window, passive income, Plato's cave, pull request, rent control, ride hailing / ride sharing, San Francisco homelessness, Sand Hill Road, self-driving car, sharing economy, Shenzhen special economic zone , side project, Silicon Valley, Silicon Valley startup, Social Justice Warrior, social web, South of Market, San Francisco, special economic zone, subprime mortgage crisis, systems thinking, tech bro, tech worker, technoutopianism, telepresence, telepresence robot, union organizing, universal basic income, unpaid internship, urban planning, urban renewal, warehouse robotics, women in the workforce, work culture , Y2K, young professional

I asked how he planned to scale up, and regretted it as soon as he gave me the answer: shipping containers. To live in? I asked. What about community? People didn’t come from nowhere. What about the local economy? I was starting to get mad. I was starting to show my cards. “Ideally, it would be a special economic zone,” he said. “You know Shenzhen?” I knew Shenzhen: a high-gloss, highly surveilled city where rapid economic growth encouraged both luxury development and child-labor abuses; a citizenry partaking of modernity and progress, under dictatorial control. An epiphenomenon of authoritarian capitalism.


pages: 859 words: 204,092

When China Rules the World: The End of the Western World and the Rise of the Middle Kingdom by Martin Jacques

Admiral Zheng, An Inconvenient Truth, Asian financial crisis, Bear Stearns, Berlin Wall, Bob Geldof, Bretton Woods, BRICs, British Empire, classic study, credit crunch, Dava Sobel, deindustrialization, Deng Xiaoping, deskilling, discovery of the americas, Doha Development Round, energy security, European colonialism, failed state, Fall of the Berlin Wall, flying shuttle, Francis Fukuyama: the end of history, global reserve currency, global supply chain, Great Leap Forward, illegal immigration, income per capita, invention of gunpowder, James Watt: steam engine, joint-stock company, Kenneth Rogoff, land reform, land tenure, lateral thinking, Malacca Straits, Martin Wolf, Meghnad Desai, Naomi Klein, Nelson Mandela, new economy, New Urbanism, one-China policy, open economy, Pearl River Delta, pension reform, price stability, purchasing power parity, reserve currency, rising living standards, Ronald Reagan, Scramble for Africa, Silicon Valley, South China Sea, sovereign wealth fund, special drawing rights, special economic zone, spinning jenny, Spread Networks laid a new fibre optics cable between New York and Chicago, the scientific method, Thomas L Friedman, trade liberalization, urban planning, Washington Consensus, Westphalian system, Xiaogang Anhui farmers, zero-sum game

The challenges facing the new Chinese leadership, therefore, were far more formidable than those that had confronted Taiwan or South Korea, especially as these had enjoyed considerable American patronage and munificence during the Cold War. The process of reform began in 1978 with the creation of a handful of special economic zones along the south-eastern seaboard, including Guangdong province, in which the rural communes were dismantled and the peasants were given control of the land on long-term leases and encouraged to market their own produce. It was based on a step-by-step, piecemeal and experimental approach. If a reform worked it was extended to new areas; if it failed then it was abandoned.

Rogoff, Kenneth Rudd, Kevin rule of law rural migrant workers rural reform Russia samurai San Francisco Sarkozy, Nicolas Saudi Arabia science and technology scientific publications Senkaku/Diaoyu islands sense of guilt Shambaugh, David Shandong province Shanghai Shanghai Cooperation Organization (SCO) Shanghai Electric Shanghai Five Shenzhen Shi Yinhong Shimonoseki, Treaty of Shintaro, Ishihara ships Sichuan province Singapore Sino-Japanese War Sinocentrism see Middle Kingdom mentality skin colour Smith, Adam Song dynasty (AD 960-1279) South Asia South China Sea South-East Asia see also ASEAN South Korea farming population identity Mandarin learning Students in China urban population sovereign wealth funds Soviet Union special economic zones sports Spratly and Paracel islands state enterprises state sovereignty Steel, Valerie steppe nomads Su Xiaokang suffrage Sugihara, Kaoru suicide Sun Yat-sen Sun Zi superstitious customs surveillance system sustainability, of growth Taipei Taiping Uprising Taiwan China’s attitude to farming population modernity public opinion superstitious customs Taiwanese identity urban population Tang, David Tang dynasty (618-907) Tang Shiping Taoism Tata Nano tax reforms TCL tea culture technocratic class technology transfer Temasek Holdings tennis Terracotta Army territorial expansion terrorism Thailand Therborn, Göran Tianjin, Treaty of Tibet ‘time-compression societies’ Tokugawa era Tokyo (former Edo) tolerance tourism trade unions Treaty of Nanjing tributary system Tu Wei-ming Tung Chee-hwa UN peacekeeping operations, Chinese troops unequal treaties United Kingdom and China colonization decline of industrial employment Industrial Revolution Mandarin teaching overseas Chinese racism share of world population urban population United States and Africa and Australia and China colonized/colonies decline and East Asia economic strength and Europe foreign policies hegemony human rights debate importation of investment and India industrial employment insularity and the international system and Japan Mandarin teaching and Middle East overseas Chinese population rise of self perception understanding of universities United States Africa Command unity universalism universities urban population urbanization US dollar US National Intelligence Council report US Treasury bonds values Veriah, Harinder Vietnam Vietnamese (language) village election Wang Gungwu Wang Xiaodong war on terror waterway systems Wen Jiabao Wen Yudio the West concept of decline of and the developing world share of world population view on Asia modernity view on China Westernization food language physical appearance politics and power Westphalian system wet rice farming Wolferen, Karel van Wong Bin workplace World Bank world history writing system WTO Xinjiang Xu Zongheng Xuchang Man Yan Xuetong Yang Qingqing Yangzi Delta Yangzi river Yasukuni Shrine Yellow Emperor (Huang Di) yellow races Yoshino, Kosaku Yu Yongding Yuan dynasty (1279-1368) Yuan Shih-kai Yukichi, Fukuzawa Zambia Zhang Qingli Zhang Taiyan Zhang Wei-Wei Zhang Xiaogang Zhang Yimou Zhang Yin Zhang Yunling Zhang Zhidong Zhao Suisheng Zhao Ziyang Zheng He zhongguo Zhou dynasty (1100-256 BC) Zhou Enlai Zhu Feng Zhu Rongji Zi Zhongyun Zimbabwe


pages: 282 words: 82,107

An Edible History of Humanity by Tom Standage

agricultural Revolution, amateurs talk tactics, professionals talk logistics, Bartolomé de las Casas, British Empire, carbon footprint, Columbian Exchange, Corn Laws, cotton gin, demographic transition, Deng Xiaoping, Eratosthenes, financial innovation, food miles, Great Leap Forward, Haber-Bosch Process, invisible hand, James Watt: steam engine, Kickstarter, Louis Pasteur, Mikhail Gorbachev, special economic zone, spice trade, The Wealth of Nations by Adam Smith, Thomas Malthus, trade route, transatlantic slave trade, women in the workforce

By the mid-1990s, rural “town and village enterprises,” almost none of which existed in 1978, accounted for 25 percent of the Chinese economy. These firms began to put pressure on state-run companies in the cities, which were less competitive. This in turn prompted broader economic reforms, the establishment of special economic zones for industrial activity, efforts to attract foreign investment, and so on—all of which fueled further economic growth. The result was an astonishing reduction in poverty, from 33 percent of the population in 1978 to 3 percent in 2001. India was slower to introduce the policy reforms needed to allow improvements in agricultural productivity to translate into broader economic growth.


pages: 394 words: 85,734

The Global Minotaur by Yanis Varoufakis, Paul Mason

active measures, Alan Greenspan, AOL-Time Warner, banking crisis, Bear Stearns, Berlin Wall, Big bang: deregulation of the City of London, Bretton Woods, business climate, business cycle, capital controls, Carmen Reinhart, central bank independence, collapse of Lehman Brothers, collateralized debt obligation, colonial rule, corporate governance, correlation coefficient, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, debt deflation, declining real wages, deindustrialization, Easter island, endogenous growth, eurozone crisis, financial engineering, financial innovation, first-past-the-post, full employment, Glass-Steagall Act, Great Leap Forward, guns versus butter model, Hyman Minsky, industrial robot, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, labour market flexibility, light touch regulation, liquidity trap, London Interbank Offered Rate, Long Term Capital Management, low interest rates, market fundamentalism, Mexican peso crisis / tequila crisis, military-industrial complex, Money creation, money market fund, mortgage debt, Myron Scholes, negative equity, new economy, Nixon triggered the end of the Bretton Woods system, Northern Rock, paper trading, Paul Samuelson, planetary scale, post-oil, price stability, quantitative easing, reserve currency, rising living standards, Ronald Reagan, special economic zone, Steve Jobs, structural adjustment programs, Suez crisis 1956, systematic trading, too big to fail, trickle-down economics, urban renewal, War on Poverty, WikiLeaks, Yom Kippur War

For, come to think of it, the soaring dragon not only grew up in an environment shaped by the Global Minotaur, but must also mature in an unstable world occasioned by the latter’s demise. Deng Xiao Ping’s new course for China was modelled on Japan and the South East Asian tigers. The guiding principle behind the Chinese plan for growth was that of a dual economy, in which special economic zones would dot China with small Singapores or Hong Kongs – islands of intense capitalist activity in a sea of unlimited labour power. Meanwhile, the centre would direct investment (very much along the lines of the Japanese model), but would also negotiate technology transfers and foreign direct investment directly with Western and Japanese multinational corporations.


pages: 288 words: 86,995

Rule of the Robots: How Artificial Intelligence Will Transform Everything by Martin Ford

AI winter, Airbnb, algorithmic bias, algorithmic trading, Alignment Problem, AlphaGo, Amazon Mechanical Turk, Amazon Web Services, artificial general intelligence, Automated Insights, autonomous vehicles, backpropagation, basic income, Big Tech, big-box store, call centre, carbon footprint, Chris Urmson, Claude Shannon: information theory, clean water, cloud computing, commoditize, computer age, computer vision, Computing Machinery and Intelligence, coronavirus, correlation does not imply causation, COVID-19, crowdsourcing, data is the new oil, data science, deep learning, deepfake, DeepMind, Demis Hassabis, deskilling, disruptive innovation, Donald Trump, Elon Musk, factory automation, fake news, fulfillment center, full employment, future of work, general purpose technology, Geoffrey Hinton, George Floyd, gig economy, Gini coefficient, global pandemic, Googley, GPT-3, high-speed rail, hype cycle, ImageNet competition, income inequality, independent contractor, industrial robot, informal economy, information retrieval, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Jeff Bezos, job automation, John Markoff, Kiva Systems, knowledge worker, labor-force participation, Law of Accelerating Returns, license plate recognition, low interest rates, low-wage service sector, Lyft, machine readable, machine translation, Mark Zuckerberg, Mitch Kapor, natural language processing, Nick Bostrom, Northpointe / Correctional Offender Management Profiling for Alternative Sanctions, Ocado, OpenAI, opioid epidemic / opioid crisis, passive income, pattern recognition, Peter Thiel, Phillips curve, post scarcity, public intellectual, Ray Kurzweil, recommendation engine, remote working, RFID, ride hailing / ride sharing, Robert Gordon, Rodney Brooks, Rubik’s Cube, Sam Altman, self-driving car, Silicon Valley, Silicon Valley startup, social distancing, SoftBank, South of Market, San Francisco, special economic zone, speech recognition, stealth mode startup, Stephen Hawking, superintelligent machines, TED Talk, The Future of Employment, The Rise and Fall of American Growth, the scientific method, Turing machine, Turing test, Tyler Cowen, Tyler Cowen: Great Stagnation, Uber and Lyft, uber lyft, universal basic income, very high income, warehouse automation, warehouse robotics, Watson beat the top human players on Jeopardy!, WikiLeaks, women in the workforce, Y Combinator

Much of this was focused in high-tech corridors such as the southern city Shenzhen and the Zhongguancun area in northwestern Beijing, which is close to the country’s two most prestigious universities, Peking and Tsinghua, and is often referred to as “China’s Silicon Valley.” However, publication of the strategy document in 2017 effectively created an explicit AI metric upon which regional officials knew they would likely be judged. As a result, regions and cities across the country quickly jumped into the fray, creating special economic zones and startup incubators and providing direct venture capital and rent subsidies to AI startups. The investments made by a single city can easily reach billions of dollars. This kind of loosely coordinated top-down directive with a focus on innovation would be hard to imagine in the United States.


pages: 340 words: 91,387

Stealth of Nations by Robert Neuwirth

accounting loophole / creative accounting, big-box store, British Empire, call centre, collective bargaining, corporate governance, digital divide, full employment, Hernando de Soto, illegal immigration, income inequality, independent contractor, informal economy, invisible hand, Jane Jacobs, jitney, Johannes Kepler, joint-stock company, Joseph Schumpeter, megacity, microcredit, New Urbanism, off-the-grid, Pepto Bismol, pirate software, planned obsolescence, profit motive, Shenzhen special economic zone , Shenzhen was a fishing village, Simon Kuznets, special economic zone, The Wealth of Nations by Adam Smith, thinkpad, upwardly mobile, Vilfredo Pareto, yellow journalism

For decades it was a sleepy rural outpost, a green suburb in the New Territories of the former British protectorate of Hong Kong, the site of the last station on the old Kowloon-Canton Railway (today known as the MTR East Rail Line, a branch of Hong Kong’s subway) before you entered the People’s Republic of China. Shenzhen, across the river, was a placid, picturesque fishing village. Between 1949 and 1979, the only legal way to cross this border was to hike over the small bridge at Lo Wu. Then, in the 1980s, China designated Shenzhen a Special Economic Zone, and Guangdong province, in which the city is located, became a haven for factories. By June 30, 1997, when the British handed Hong Kong back to China, Shenzhen was poised to challenge the capitalist city to the south. Today, Shenzhen is almost double the size of Hong Kong (thirteen million versus seven million.)


pages: 312 words: 91,835

Global Inequality: A New Approach for the Age of Globalization by Branko Milanovic

Asian financial crisis, assortative mating, Berlin Wall, bitcoin, Black Swan, Branko Milanovic, Capital in the Twenty-First Century by Thomas Piketty, centre right, colonial exploitation, colonial rule, David Ricardo: comparative advantage, deglobalization, demographic transition, Deng Xiaoping, discovery of the americas, European colonialism, Fall of the Berlin Wall, Francis Fukuyama: the end of history, full employment, Gini coefficient, Gunnar Myrdal, income inequality, income per capita, invisible hand, labor-force participation, liberal capitalism, low skilled workers, Martin Wolf, means of production, military-industrial complex, mittelstand, moral hazard, Nash equilibrium, offshore financial centre, oil shock, open borders, open immigration, Paul Samuelson, place-making, plutocrats, post scarcity, post-industrial society, profit motive, purchasing power parity, Ralph Nader, Robert Solow, Second Machine Age, seigniorage, Silicon Valley, Simon Kuznets, special economic zone, stakhanovite, trade route, transfer pricing, very high income, Vilfredo Pareto, Washington Consensus, women in the workforce

The combination of centralization with local flexibility has been used, with huge success, to motivate competition between lower-level units in achieving material targets (like GDP growth rates) and to spur experimentation with various economic policies and forms of ownership. The system has allowed experimentation ranging from the Special Economic Zones in the 1980s to the Shanghai bourse in recent years. But while this political structure has performed very well in the past half century, it contains a number of vulnerable points. The first is illustrated by the greed of local authorities who, either because they are corrupt or because they need to compete with other local authorities, resort to brutal forms of exploitation, confiscating land at nominal prices from farmers or imposing unbearable working conditions on workers.


pages: 307 words: 90,634

Insane Mode: How Elon Musk's Tesla Sparked an Electric Revolution to End the Age of Oil by Hamish McKenzie

Airbnb, Albert Einstein, augmented reality, autonomous vehicles, barriers to entry, basic income, Bay Area Rapid Transit, Ben Horowitz, business climate, car-free, carbon footprint, carbon tax, Chris Urmson, Clayton Christensen, clean tech, Colonization of Mars, connected car, crony capitalism, Deng Xiaoping, Didi Chuxing, disinformation, disruptive innovation, Donald Trump, driverless car, Elon Musk, Fairchild Semiconductor, Ford Model T, gigafactory, Google Glasses, Hyperloop, information security, Internet of things, Jeff Bezos, John Markoff, low earth orbit, Lyft, Marc Andreessen, margin call, Mark Zuckerberg, Max Levchin, megacity, Menlo Park, Nikolai Kondratiev, oil shale / tar sands, paypal mafia, Peter Thiel, ride hailing / ride sharing, Ronald Reagan, self-driving car, Shenzhen was a fishing village, short selling, side project, Silicon Valley, Silicon Valley startup, Snapchat, Solyndra, South China Sea, special economic zone, stealth mode startup, Steve Jobs, tech worker, TechCrunch disrupt, TED Talk, Tesla Model S, Tim Cook: Apple, Tony Fadell, Uber and Lyft, uber lyft, universal basic income, urban planning, urban sprawl, Zenefits, Zipcar

* * * You never have to look far to find scenes of change in China, but the sense of dynamism is perhaps nowhere more profound than in the border city of Shenzhen. In the 1970s, Shenzhen was an unremarkable fishing village at the end of the Kowloon-Canton rail route. Since President Deng Xiaoping established it as a Special Economic Zone in 1980 as part of the opening up of China’s economy, it has been on a mercantile tear, its population exploding to twelve million people. Today, Shenzhen is a booming metropolis, overflowing with energy and optimism. It is a beacon for young people who want to get ahead in business or score a job at one of the city’s tech companies, like electronics manufacturer Huawei, Internet giant Tencent, or the iPhone-producing Foxconn.


pages: 487 words: 95,085

JPod by Douglas Coupland

Asperger Syndrome, Drosophila, finite state, G4S, game design, Maui Hawaii, McMansion, neurotypical, pez dispenser, pre–internet, QWERTY keyboard, Ronald Reagan, special economic zone, sugar pill, tech worker, wage slave, Y2K

I tried asking the driver for a map, but no go. Around noon we entered one of those industrial instant cities they write about fawningly in business magazines as the core of China—the New Asian Tiger! A massive sign the size of Dodger Stadium's Jumbotron told me in English: WELCOME TO SPECIAL ECONOMIC ZONE SEZ we Love thopping world The city, SEZ, was huge and obviously brand new, but otherwise as bleak and soot-covered and numbing as the rest of urban China. There were maybe twenty thousand bikes for every car, but the cars were Audis and Porsches and Jaguars. Imagine driving a luxury sports car in China in 1965—the brain can't even process the thought properly.


China: A History by John Keay

Admiral Zheng, agricultural Revolution, Berlin Wall, Deng Xiaoping, Great Leap Forward, imperial preference, invention of movable type, land tenure, mass immigration, means of production, Pax Mongolica, Ronald Reagan, Shenzhen special economic zone , South China Sea, special economic zone, spice trade, trade route, transcontinental railway, upwardly mobile, éminence grise

In 1977 he was reinstated in the Politburo and in 1978 he sidelined Hua Guofeng to launch the reform programme that would shape contemporary China. A year later he was in America being feted by Ronald Reagan and anticipating China’s becoming a superpower; a year after that, while authorising the creation of the first Special Economic Zone at Shenzhen (near Hong Kong), he lit on the formula that would turn China into ‘the workshop of the world’. The five years 1977–82 launched the country on a new trajectory as revolutionary in its way as any in its long history. The Cultural Revolution had attacked ‘the Four Olds’ (old ideas, culture, customs, and habits); Deng’s revolution promoted ‘the Four News’ (or ‘Four Modernisations’: agriculture, industry, defence and technology); the retrospective/negative made way for the forward-looking/positive.

Sackler Collection, 26 Salt, 84, 130, 151–2, 258, 286, 451 Samarkand (Sogdiana), 140, 241, 265, 383 Sanskrit, 98, 199 Sanxingdui, Sichuan, 38–9 Sanyuanli, Guangdong, 465 Sassanid empire, 265 Schafer, Edward, 273 Schall von Bell, Father Adam, 430 Script and language, 18–20, 29, 34, 43–5, 93, 296, 307, 310, 351, 481–2, Second World War, 514 ‘Self-Strengthening’, 484–6 Shaanxi (province), 10–11, 52, 210, 311–2, 417, 511, 517 Shahrukh, Timurid ruler, 383 Shakespeare, William, 98 Shamian Island, Guangzhou, 455, 460 Shandong (province), 10, 33, 56, 102, 109, 116, 163, 220, 282, 289, 323, 431, 475, 490, 493, 503–4, 507 Shang dynasty, 29, 34, 36–8, 42–9, 52–4, 65 Shang Yang, Qin legalist, 75, 76, 80 Shangdi, see Han emperors Shangdu (Xanadu), Inner Mongolia, 357, 390 Shangguan Wan’er, Tang scholar, 256 Shanghai, 13, 452, 466, 467, 477, 482, 484, 504–6, 509, 513 Shangshu, see Book of Documents Shanhaiguan, Liaoning, 419–20, 429 Shanxi (province), 10, 48, 63, 131, 170, 185, 282, 408 Shanyuan, Treaty of (1005), 305–6 Shaodi, see Han emperors Shaoxing (Zhejiang), 517–8 Shendu, see India Shenyang (Mukden), Liaoning, 423, 509 Shenzen (Guangdong), 532 Shenzong, see Liao, Song etc. emperors Shi, ‘the educated’, elite, 65, 67–8 Shi Hu, Later Zhao ruler (d.349), 206–8 Shi Huangdi, First Emperor, see Qin emperors Shi Kefa, Ming loyalist, 426, 428 Shi Le, Later Zhao ruler (d.333), 206–7 Shiji, 61, 79, 87, 89–90, 97, 99, 103, 106–10, 113, 115, 132, 141–3 Shijing, see Book of Songs Shimonoseki, Treaty of (1895), 489–90 Shipping, 210, 380–1 Shizong, see Jin, Later Zhou etc emperors Shu Kingdom (Three Kingdoms), 190–2 Shu state, 39, 81–4, 168, 185 Shun, ‘Five Emperors’ emperor, 28, 450 Shundi, see Han, Yuan etc. emperors Shusun Tong, Han scholar, 120–1 Siberia, 132, 438–40, Sichuan (province), 11, 14, 38–9, 76, 81–5, 115, 137, 167–8, 189, 191, 209, 220, 277, 281, 292, 339, 354, 437, 511, 514 Siddhartha Gautama (Buddha), 199 Sikkim, 243 Silk, 32, 84, 98, 124–5, 411 Silk Road, 5, 20, 134, 172–3, 201, 203–4, 240, 242, 263, 272, 308, 356 Silla, Korea, 237, 261 Silver, 402, 414–7, 457–7, 459 Sima Guang, Song reformer and historian, 217, 255, 281, 318, 320–1 Sima Qian, The Grand Historian, 61, 90, 91, 100, 104, 106–10, 112–15, 121–2, 126, 132, 136, 141–3, 147, 179, 297, 525 Sima Rui, Eastern Jin dynasty founder, 206 Sima Yan, Western Jin dynasty founder, 192, 204; see also Jin (Three Kingdoms) Dynasty Sin Chung-il, Korean emissary, 421–2 Singapore, 458 Singosari (Majapahit), 366 Sino-Indian War (1962), 526 Sino-Japanese War (1894–5), 489 Sino-Japanese War (1937–45), 512–4 Sino-Soviet Relations, 19, 518–9 Sishu (Four Books), 348, 349, 350, 395 Six (Southern) Dynasties, 188, 194, 202, 206; see also Wu, Eastern Jin, Liu Song, Liang etc Sixteen Kingdoms, 192, 206–9 Sogdiana, 140, 153, 201, 262–3, 332 Somalia, 380 Song dynasty, Northern and Southern, 16, 292, 293–4, 312, 313–4, 315–20; Northern, 292, 315–20, 322–5; Southern, 320, 333–40, 341–50, 356–61, 371 Song emperors Duzong, 360 Gaozong, 333, 334, 335, 344 Huizong, 324–25, 333, 335 Qinzong, 333 Renzong, 313, 316 Shenzong, 317 Taizong, 303–5 Taizu, 302–3 Zhenzong, 305–6 Songhua River (Sungari), 326 Soviet Union, 19, 501, 518–9, 520–1, 526–7, 530, 534–5 Spain, 405, 416 Special Economic Zones, 532–3 Spence, Jonathan, 419, 499, 515 ‘Spring and Autumn’ Annals, 62–3, 129 ‘Spring and Autumn’ period, 62–6, 68–71, 107, 193 Sri Lanka, 380, 385 Srong-brtsan-sgam-po, Tibetan king, 239, 243, 244 St Petersburg, Treaty of (1881), 486–7 Stalin, Josip, 520, 526 Standard Histories, 5, 6, 21, 106–7, 140, 174, 199, 225, 250, 428 Stein, Aurel, 203–4, 242, 296, 308, 309 Stone Cattle Road, 81–2, 115 Su Chuo, Northern Zhou adviser, 219 Suche, see Yarkand Sui Dynasty (581–618), 211, 217–8, 222–34, 251 Sui emperors Wendi, 220, 222–4 Yangdi, 225–6, 229–34, 236, 240 Sui, Duke of, see Sui Wendi Suizhou, Hubei, 72 Sumatra, 380, 385 Summer Palace, 454, 476, 489 Sun Bin, military writer, 78, 260 Sun Ce, ruler of ‘Three Kingdoms’ Wu, 187–8 Sun Quan, ruler of ‘Three Kingdoms’ Wu, 187–8, 189–90, 202 Sun Wugong, monkey, 245 Sun Yat-sen, president of the republic (d.1925), 373, 491, 497–8, 500, 503, 504, 505, 508 Sunzi, 260 Suzhou, Jiangsu, 230, 323, 406, 412, 452, 477 Suzong, see Tang emperors Syr Darya (Jaxartes River), 136 Syria, 353 T.


pages: 3,292 words: 537,795

Lonely Planet China (Travel Guide) by Lonely Planet, Shawn Low

Albert Einstein, anti-communist, bike sharing, birth tourism , carbon footprint, clean water, colonial rule, country house hotel, credit crunch, Deng Xiaoping, G4S, gentrification, Great Leap Forward, haute couture, haute cuisine, high-speed rail, income inequality, indoor plumbing, Japanese asset price bubble, Kickstarter, land reform, mass immigration, off-the-grid, Pearl River Delta, place-making, Rubik’s Cube, Shenzhen special economic zone , Skype, South China Sea, special economic zone, sustainable-tourism, trade route, upwardly mobile, urban planning, urban renewal, urban sprawl, women in the workforce, Xiaogang Anhui farmers, young professional

Alternatively, get a Dandong taxi to take you here directly. VISITING THE HERMIT KINGDOM Most tours to the Democratic People’s Republic of Korea (DPRK) start with a flight from Beijing into Pyongyang, but Jilin and Liaoning offer a more interesting alternative launching pad. You can visit the Special Economic Zone of Rason from Yanji in Jilin province or consider taking a train from Dandong all the way to Pyongyang. The following tour agencies organise visas and offer trips designed for Westerners. Check the websites for costs and itineraries. Note that some travel restrictions apply to American and Japanese tourists.

Buses to Wuzhishan (¥20, two hours) depart at 8am, 11.45am and 3.30pm. Guangzhou’s main train station has trains that stop over at Shaoguan East station (Shaoguan Dongzhan ¥38, 2½ hours). Buses to Wuzhishan leave at 7.45am, 11.15am and 3.15pm. Shenzhen %0755 / Pop 10.5 million One of China’s wealthiest cities and a Special Economic Zone (SEZ), Shenzhen draws a mix of business people, investors and migrant workers to its golden gates. It’s also a useful transport hub to other parts of China. You can buy a five-day Shenzhen-only visa (¥160 for most nationalities, ¥469 for Brits; cash only) at the Luohu border ( GOOGLE MAP ; Lo Wu; h9am-10.30pm), Huangang (h9am-1pm & 2.30-5pm) and Shekou (h8.45am-12.30pm & 2.30-5.30pm).

Li and Han Chinese guerrillas waged an effective campaign to harass the Japanese forces but the retaliation was brutal – the Japanese executed a third of the island’s male population. Even today resentment over Japanese atrocities lingers among the younger generation. In 1988 Hainan was taken away from Guangdong and established as its own province and Special Economic Zone (SEZ). After years of fits and starts, development is now focused on turning tropical Hainan into an ‘international tourism island’ by 2020. What this really means, besides developing every beach, and building more golf courses and mega-transport projects (such as a high-speed rail service round the island, a cruise ship terminal and even a spaceport), is not entirely clear.


pages: 427 words: 112,549

Freedom by Daniel Suarez

augmented reality, big-box store, British Empire, Burning Man, business intelligence, call centre, cloud computing, corporate personhood, digital map, game design, global supply chain, illegal immigration, Naomi Klein, new economy, Pearl River Delta, plutocrats, private military company, RFID, Shenzhen special economic zone , special economic zone, speech recognition, Stewart Brand, telemarketer, the scientific method, young professional

The data includes body and facial geometry, textures, voice, gait, and other info. Contributors need a five-star reputation score and at least fifteen levels of proficiency in their primary class. XiLAN_oO*****/ 2,930 23rd-level Programmer Situated just across the Pearl River Delta from Hong Kong, Shenzhen was a city of migrants. Declared a Special Economic Zone by the Chinese government in 1980, it was an experiment in limited capitalism--and had grown with astonishing speed. Fueled by cheap labor, Shenzhen's population exploded from three hundred thousand to over twelve million people in less than three decades. State-of-the-art factory complexes producing goods for Western companies covered mile after mile in the northern reaches of the city, away from the tourism- and trade-centered southern districts.


pages: 332 words: 104,587

Half the Sky: Turning Oppression Into Opportunity for Women Worldwide by Nicholas D. Kristof, Sheryl Wudunn

agricultural Revolution, correlation does not imply causation, demographic dividend, feminist movement, Flynn Effect, illegal immigration, Mahatma Gandhi, microcredit, paper trading, rolodex, Ronald Reagan, Rosa Parks, school choice, Shenzhen special economic zone , special economic zone, transatlantic slave trade, women in the workforce

—LU XUN, “ANXIOUS THOUGHTS ON ‘NATURAL BREASTS’” (1927) We’ve been chronicling the world of impoverished women, but let’s break for a billionaire. Zhang Yin is a petite, ebullient Chinese woman who started her career as a garment worker, earning $6 a month to help support her seven siblings. Then, in the early 1980s, she moved to the special economic zone of Shenzhen and found a job at a paper trading company partly owned by foreigners. Zhang Yin learned the intricacies of the paper business, and she could have stayed and risen in the firm. But she is a restless, ambitious woman, buzzing with entrepreneurial energy, so she struck out for Hong Kong in 1985 to work for a trading company there.


pages: 364 words: 99,897

The Industries of the Future by Alec Ross

"World Economic Forum" Davos, 23andMe, 3D printing, Airbnb, Alan Greenspan, algorithmic bias, algorithmic trading, AltaVista, Anne Wojcicki, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, bioinformatics, bitcoin, Black Lives Matter, blockchain, Boston Dynamics, Brian Krebs, British Empire, business intelligence, call centre, carbon footprint, clean tech, cloud computing, collaborative consumption, connected car, corporate governance, Credit Default Swap, cryptocurrency, data science, David Brooks, DeepMind, Demis Hassabis, disintermediation, Dissolution of the Soviet Union, distributed ledger, driverless car, Edward Glaeser, Edward Snowden, en.wikipedia.org, Erik Brynjolfsson, Evgeny Morozov, fiat currency, future of work, General Motors Futurama, global supply chain, Google X / Alphabet X, Gregor Mendel, industrial robot, information security, Internet of things, invention of the printing press, Jaron Lanier, Jeff Bezos, job automation, John Markoff, Joi Ito, Kevin Roose, Kickstarter, knowledge economy, knowledge worker, lifelogging, litecoin, low interest rates, M-Pesa, machine translation, Marc Andreessen, Mark Zuckerberg, Max Levchin, Mikhail Gorbachev, military-industrial complex, mobile money, money: store of value / unit of account / medium of exchange, Nelson Mandela, new economy, off-the-grid, offshore financial centre, open economy, Parag Khanna, paypal mafia, peer-to-peer, peer-to-peer lending, personalized medicine, Peter Thiel, precision agriculture, pre–internet, RAND corporation, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, Rubik’s Cube, Satoshi Nakamoto, selective serotonin reuptake inhibitor (SSRI), self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, social graph, software as a service, special economic zone, supply-chain management, supply-chain management software, technoutopianism, TED Talk, The Future of Employment, Travis Kalanick, underbanked, unit 8200, Vernor Vinge, Watson beat the top human players on Jeopardy!, women in the workforce, work culture , Y Combinator, young professional

Many Chinese and non-Chinese are withholding their enthusiasm, though, because the Chinese government has proved unwilling to loosen restrictions on foreign news sites and social media like Facebook and Twitter, as was originally rumored and reported with the announcement of the FTZ. The People’s Daily, which the government uses to gets its views to the public, shut down people’s hopes when it reported, “The Shanghai FTZ is a special economic zone but not a special political zone. No one in their rational mind could imagine that the second-largest economy in the world, after over 60 years of striving, would set up a ‘political concession’ when it is thriving day by day.” The Chinese government’s strategy is to jump-start development in seven key industries: energy saving and environmental protection, new-generation information technology, biotechnology, high-end equipment, new energy, new materials, and new-energy vehicles.


pages: 355 words: 106,952

Visit Sunny Chernobyl: And Other Adventures in the World's Most Polluted Places by Andrew Blackwell

Anthropocene, carbon footprint, clean water, Google Earth, gravity well, liberation theology, nuclear paranoia, off-the-grid, oil rush, oil shale / tar sands, place-making, ride hailing / ride sharing, sensible shoes, Shenzhen special economic zone , Silicon Valley, special economic zone, the scientific method, young professional

If my town were world famous as a warren of poisonous bottom-feeding, I’d probably be pissed off, too, when people wandered into my workshop with cameras. Whatever the source of the bad vibes, Guiyu sounded unfriendly. I had heard stories of journalists being screamed at, chased, pelted with bricks. Guiyu isn’t the only weirdly specialized place in Guangdong Province. Only two hundred miles down the coast is the “special economic zone” that is the city of Shenzhen, one of the most concentrated areas of electronics manufacturing in the world. (It was to companies in Shenzhen, Mr. Han said, that he sold his recycled components.) Shenzhen is home, for instance, to the famous “Foxconn City,” the giant complex where iPhones and a million other things are built.


pages: 459 words: 103,153

Adapt: Why Success Always Starts With Failure by Tim Harford

An Inconvenient Truth, Andrew Wiles, banking crisis, Basel III, behavioural economics, Berlin Wall, Bernie Madoff, Black Swan, Boeing 747, business logic, car-free, carbon footprint, carbon tax, Cass Sunstein, charter city, Clayton Christensen, clean water, cloud computing, cognitive dissonance, complexity theory, corporate governance, correlation does not imply causation, creative destruction, credit crunch, Credit Default Swap, crowdsourcing, cuban missile crisis, Daniel Kahneman / Amos Tversky, Dava Sobel, Deep Water Horizon, Deng Xiaoping, disruptive innovation, double entry bookkeeping, Edmond Halley, en.wikipedia.org, Erik Brynjolfsson, experimental subject, Fall of the Berlin Wall, Fermat's Last Theorem, financial engineering, Firefox, food miles, Gerolamo Cardano, global supply chain, Great Leap Forward, Herman Kahn, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, Jane Jacobs, Jarndyce and Jarndyce, Jarndyce and Jarndyce, John Harrison: Longitude, knowledge worker, loose coupling, Martin Wolf, mass immigration, Menlo Park, Mikhail Gorbachev, mutually assured destruction, Netflix Prize, New Urbanism, Nick Leeson, PageRank, Piper Alpha, profit motive, Richard Florida, Richard Thaler, rolodex, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, South China Sea, SpaceShipOne, special economic zone, spectrum auction, Steve Jobs, supply-chain management, tacit knowledge, the market place, The Wisdom of Crowds, too big to fail, trade route, Tyler Cowen, Tyler Cowen: Great Stagnation, Virgin Galactic, web application, X Prize, zero-sum game

There’s Singapore, long a successful independent city state off the coast of Malaysia; Hong Kong, for many years a British enclave on the South China Sea; more recently, Shenzhen, thirty years ago a fishing village not far from Hong Kong, now a city to rival Hong Kong itself after being designated China’s first ‘special economic zone’. Beyond South-East Asia, Dubai has proved – property bubble notwithstanding – that one can build a successful city anywhere. What all four cities have in common with Lübeck, along with their coastal settings, is that they have been governed by different rules from surrounding areas. So we know that independent city states can survive and prosper in a globalised economy.


Capitalism, Alone: The Future of the System That Rules the World by Branko Milanovic

affirmative action, Asian financial crisis, assortative mating, barriers to entry, basic income, Berlin Wall, bilateral investment treaty, Black Swan, Branko Milanovic, capital controls, Capital in the Twenty-First Century by Thomas Piketty, carried interest, colonial rule, corporate governance, creative destruction, crony capitalism, deindustrialization, dematerialisation, Deng Xiaoping, discovery of the americas, European colonialism, Fall of the Berlin Wall, financial deregulation, Francis Fukuyama: the end of history, full employment, ghettoisation, gig economy, Gini coefficient, global supply chain, global value chain, Great Leap Forward, high net worth, household responsibility system, income inequality, income per capita, invention of the wheel, invisible hand, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, labor-force participation, laissez-faire capitalism, land reform, liberal capitalism, low skilled workers, Lyft, means of production, new economy, offshore financial centre, Paul Samuelson, plutocrats, post-materialism, purchasing power parity, remote working, rent-seeking, ride hailing / ride sharing, Robert Solow, Silicon Valley, single-payer health, special economic zone, Tax Reform Act of 1986, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thorstein Veblen, uber lyft, universal basic income, Vilfredo Pareto, Washington Consensus, women in the workforce, working-age population, Xiaogang Anhui farmers

China will be gradually “vacating” manufacturing jobs that should “naturally” be taken over by less-developed countries. However, without a reasonably good infrastructure, they will not be able to do it. In fact, one of China’s own development lessons has been that infrastructure is extremely important for attracting foreign investment, as the example of the special economic zones shows. The difference in developmental emphasis (infrastructure versus institution-building) precisely matches the distinction between political and liberal capitalisms: through their preferred development strategies, both try to play to their strong suit. The strong selling point of political capitalism is state efficiency—the fact that it can bring private actors to build something that improves peoples’ ordinary lives in tangible, material ways.


pages: 363 words: 109,077

The Raging 2020s: Companies, Countries, People - and the Fight for Our Future by Alec Ross

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, Affordable Care Act / Obamacare, air gap, air traffic controllers' union, Airbnb, Albert Einstein, An Inconvenient Truth, autonomous vehicles, barriers to entry, benefit corporation, Bernie Sanders, Big Tech, big-box store, British Empire, call centre, capital controls, clean water, collective bargaining, computer vision, coronavirus, corporate governance, corporate raider, COVID-19, deep learning, Deng Xiaoping, Didi Chuxing, disinformation, Dissolution of the Soviet Union, Donald Trump, Double Irish / Dutch Sandwich, drone strike, dumpster diving, employer provided health coverage, Francis Fukuyama: the end of history, future of work, general purpose technology, gig economy, Gini coefficient, global supply chain, Goldman Sachs: Vampire Squid, Gordon Gekko, greed is good, high-speed rail, hiring and firing, income inequality, independent contractor, information security, intangible asset, invisible hand, Jeff Bezos, knowledge worker, late capitalism, low skilled workers, Lyft, Marc Andreessen, Marc Benioff, mass immigration, megacity, military-industrial complex, minimum wage unemployment, mittelstand, mortgage tax deduction, natural language processing, Oculus Rift, off-the-grid, offshore financial centre, open economy, OpenAI, Parag Khanna, Paris climate accords, profit motive, race to the bottom, RAND corporation, ride hailing / ride sharing, Robert Bork, rolodex, Ronald Reagan, Salesforce, self-driving car, shareholder value, side hustle, side project, Silicon Valley, smart cities, Social Responsibility of Business Is to Increase Its Profits, sovereign wealth fund, sparse data, special economic zone, Steven Levy, stock buybacks, strikebreaker, TaskRabbit, tech bro, tech worker, transcontinental railway, transfer pricing, Travis Kalanick, trickle-down economics, Uber and Lyft, uber lyft, union organizing, Upton Sinclair, vertical integration, working poor

The state loosened its grip on the agriculture sector, allowing rural farmers to rent land and equipment, and sell their surplus on the free market. Private companies, previously outlawed by the Communist Party, began popping up around the country. In coastal cities, the government established “special economic zones,” which provided tax breaks and exemptions from the restrictive business policies of the rest of the country. As foreign investors flocked to these free-market hubs, China’s exports skyrocketed and its economy began to grow. China turned its back on economic communism some ten years ahead of the Soviet bloc, and the word communist ceased to have any meaning tied to its actual ideological origins.


CRISPR People by Henry T. Greely

Albert Einstein, Asilomar, Asilomar Conference on Recombinant DNA, autism spectrum disorder, bitcoin, clean water, CRISPR, Deng Xiaoping, discovery of DNA, double helix, dual-use technology, en.wikipedia.org, epigenetics, Gregor Mendel, Ian Bogost, Isaac Newton, Mark Zuckerberg, meta-analysis, mouse model, New Journalism, phenotype, precautionary principle, Recombinant DNA, special economic zone, stem cell, synthetic biology, traumatic brain injury, Xiaogang Anhui farmers

However, using high throughput sequence data in this study, the naive VDJ repertoire is shown to be strongly correlated between individuals, which suggest VDJ recombination involves regulated mechanisms. 8. Shenzhen is a “subprovincial city” in Guangdong Province in Southern China, bordering Hong Kong. It currently has a population officially counted at about 13 million but thought to be, in fact, closer to 20 million. In 1980, when it was made a “Special Economic Zone,” its population was 30,000. It has become an industrial powerhouse in the intervening 40 years. https://en.wikipedia.org/wiki/Shenzhen. 9. I tried to calculate the actual distance between the university and Hong Kong on Google Maps, but I got a notice that “Sorry, we could not calculate driving directions from ‘Hong Kong’ to ‘Southern University of Science and Technology, 1088 Xueyuan Ave, Nanshan, Shenzhen, Guangdong, China, 518055.’”


pages: 388 words: 111,099

Democracy for Sale: Dark Money and Dirty Politics by Peter Geoghegan

4chan, Adam Curtis, Affordable Care Act / Obamacare, American Legislative Exchange Council, anti-globalists, basic income, Berlin Wall, Big Tech, Black Lives Matter, Boris Johnson, Brexit referendum, British Empire, Cambridge Analytica, centre right, corporate raider, crony capitalism, data science, deepfake, deindustrialization, demographic winter, disinformation, Dominic Cummings, Donald Trump, East Village, Etonian, F. W. de Klerk, fake news, first-past-the-post, Francis Fukuyama: the end of history, Frank Gehry, Greta Thunberg, invisible hand, James Dyson, Jeremy Corbyn, John Bercow, Mark Zuckerberg, market fundamentalism, military-industrial complex, moral panic, Naomi Klein, Nelson Mandela, obamacare, offshore financial centre, open borders, Overton Window, Paris climate accords, plutocrats, post-truth, post-war consensus, pre–internet, private military company, Renaissance Technologies, Robert Mercer, Ronald Reagan, Silicon Valley, Snapchat, special economic zone, Steve Bannon, surveillance capitalism, tech billionaire, technoutopianism, Torches of Freedom, universal basic income, WikiLeaks, Yochai Benkler, éminence grise

Its board included senior pro-Leave figures, including some, such as Marshall, who had been connected to Singham’s former employer Legatum. Vote Leave’s outreach director oversaw the self-appointed commission’s daily running. Stephen Kelly was shocked when he read the AAC report. It proposed an unprecedented level of disruption and surveillance along the once deadly border. A ‘special economic zone’ would be created around Derry and Donegal, effectively turning an invisible border into two customs frontiers. “They completely misrepresented what they saw in Derry,” Kelly said. “They deliberately ignored it.” The ‘commission’ never published the responses to its consultation from Northern Irish groups.


pages: 1,152 words: 266,246

Why the West Rules--For Now: The Patterns of History, and What They Reveal About the Future by Ian Morris

addicted to oil, Admiral Zheng, agricultural Revolution, Albert Einstein, anti-communist, Apollo 11, Arthur Eddington, Atahualpa, Berlin Wall, British Empire, classic study, Columbian Exchange, conceptual framework, cotton gin, cuban missile crisis, defense in depth, demographic transition, Deng Xiaoping, discovery of the americas, Doomsday Clock, Eddington experiment, en.wikipedia.org, falling living standards, Flynn Effect, Ford Model T, Francisco Pizarro, global village, God and Mammon, Great Leap Forward, hiring and firing, indoor plumbing, Intergovernmental Panel on Climate Change (IPCC), invention of agriculture, Isaac Newton, It's morning again in America, James Watt: steam engine, Kickstarter, Kitchen Debate, knowledge economy, market bubble, mass immigration, Medieval Warm Period, Menlo Park, Mikhail Gorbachev, military-industrial complex, mutually assured destruction, New Journalism, out of africa, Peter Thiel, phenotype, pink-collar, place-making, purchasing power parity, RAND corporation, Ray Kurzweil, Ronald Reagan, Scientific racism, sexual politics, Silicon Valley, Sinatra Doctrine, South China Sea, special economic zone, Steve Jobs, Steve Wozniak, Steven Pinker, strong AI, Suez canal 1869, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Thomas L Friedman, Thomas Malthus, trade route, upwardly mobile, wage slave, washing machines reduced drudgery

To reduce the pressure on resources, he promoted the notorious One Child Policy, which (in theory) required women who had two babies to be sterilized,* and to increase the resources available he embraced the global economy. China joined the World Bank and International Monetary Fund, opened Special Economic Zones to attract capitalists from Macao, Hong Kong, and Taiwan, and even admitted a Coca-Cola plant to Shanghai. By 1983 Deng had effectively killed Mao’s communes. Peasants were pursuing “sideline” activities for personal gain and businessmen were keeping some of their profits. Farmland still belonged to collectives but families could now lease plots for thirty years and work them privately.

., 362 Philip II, King of Macedon, 268 Philip II, King of Spain, 447–49 Philippines, 127, 421, 462, 535 Philistines, 217, 218 Phoenicia, 234, 239–42, 244, 250, 365 Phrygia, 277 Picasso, Pablo, 74 Pillow Book, The, 360 Ping, King, 243 Pinker, Steven, 85 Pinnacle Point (South Africa), 63, 64 pirates, 363, 408, 431, 442, 443, 445, 462–63, 485 Pires, Tomé, 431–33, 435 Pisa, 371 Pistorius, Oscar, 594 Pitman, Walter, 81n Pitt, William, 486, 488 Pizarro, Francisco, 460 plagues, 217, 296–97, 301, 309, 399–400, 412; see also bubonic plague; epidemics Plato, 148, 256, 260, 325, 589 Pliny the Elder, 273 Plotinus, 324 Poitiers (France), 352 Poland, 112, 353, 368, 419, 455, 458, 549 Politics (Aristotle), 260 Polo, Marco, 384–85, 387, 392, 427 Pol Pot, 16 Polybius, 263–64, 270 Polynesia, 421n Pomeranz, Kenneth, 18, 20–21, 40, 158, 159, 168, 169 Pope, Alexander, 470 Popper, Karl, 157 population, 19, 20, 139, 150n, 237–39, 365, 467, 528, 538–40, 561, 565–66, 577–79, 612 aging, 551, 586, 617 of Britain, 505, 509 of Byzantium 347 of China, 17, 19, 201, 206, 237, 238, 242, 243, 286, 289, 298, 307, 355, 377, 392, 440, 484, 544, 547, 585 of Egypt, 185, 200, 296 epidemics and, 217, 295–96, 305, 308, 310, 347, 396, 437, 438, 455 farming and, 100, 103, 108, 319, 320, 600–601 global warming and, 601, 603 Greek, 219, 239 indigenous, American, 430, 464, 529 of Japan, 406, 440, 483 of Mesopotamia, 188 Muslim, 363 prehistoric, 66, 72, 76 of Roman Empire, 286, 291, 298, 312, 328, 335 urban, 149, 151, 338 Porphyry, 324 Portugal, 33, 414, 416, 419, 427, 430–32, 435, 440, 442, 460 Potosí (Bolivia), 460 Prester John, 414, 416 PricewaterhouseCoopers, 582 Priestley, Joseph, 568 Prince, The (Machiavelli), 419 Princess Taiping (ship), 413 Principia Mathematica (Newton), 470 privateers, 462 Procopius, 345 “Progress: Its Law and Cause” (Spencer), 135 Project Kittyhawk, 596 Protagoras, 261 Protestantism, 20, 448 Prozac, 594 Puabi, Queen, 189 Punjab (India), 271 “Pure Land School,” 322 Puritans, 574 Puyi, Emperor, 528 Pylos (Greece), 216, 217 Qermez Dere (Iraq), 94, 96, 97, 102 Qi (China), 233, 244, 251, 253, 262, 265n Qiang people, 213, 221, 299–305, 307 Qianlong, Emperor, 484, 515 Qicunzhen (China), 382 Qi Jiguang, 442–43 Qin (China), 244, 251, 253, 259, 262–70, 275, 277, 279, 281–85, 292, 528, 610 First Emperor, 279, 282, 284–85, 289, 292, 293, 421n, 567 Qing dynasty, 458–59, 473, 476, 484, 499–500, 518, 520, 523, 528, 573, 574, 587 Qiying, 517 Qiying (ship), 6, 7 Quaid, Dennis, 92 Quanzhou (China), 379 Quebec, 463, 465 railroads, 12, 507, 509, 515, 523–24 Railway Children, The (Nesbit), 182 Raleigh, Walter, 463 Ramses II, Pharaoh, 199, 214, 215, 218, 220 Ramses III, Pharaoh, 216–18 Ramses XI, Pharaoh, 219 RAND Corporation, 615 Ranters, 452–53 Ravenna (Italy), 344 Red Cliffs, battle of, 304 Red Guards, 546 Red-Head Shiites, 444 Red Turbans, 404, 405 Reindeer Cave (France), 69 Rembrandt, 148 Renaissance, 417–22, 426, 433, 469, 474, 476, 569, 575, 589 Renfrew, Colin, 110, 112 Republic, The (Plato), 256, 260 Revivification of the Sciences of Religion (al-Ghazali), 367 Richardson, Lewis Fry, 608 Richardson, Samuel, 503 Riesman, David, 540 Rifkin, Jeremy, 591 Rise and Fall of the Great Powers, The (Kennedy), 248 Rites of Zhou (Confucian handbook), 204 Roanoke Colony, 463–64 Roberts, Richard, 496 Robinson Crusoe (Defoe), 486 Rollo, King, 371 Romance of the Three Kingdoms, The, 303, 304 Roman Empire, 136, 149, 159, 267, 280, 284–93, 320, 325, 341, 354, 370, 373, 403, 457, 482 China and, 273, 276 Christianity in, 263, 323, 326–28 collapse of, 14, 312–17, 533, 576, 611, 621, 569, 574 democracy made redundant in, 260 economy of, 288–91, 311–12, 335, 393, 499, 500, 564 Egypt and, 273, 283–84, 287, 311 energy use in, 157, 287, 380–81 environmental impacts of, 287–90 founding of, 284, 285 frontier wars of, 308–11, 323, 349 Greeks in, 280, 286 Han dynasty compared with, 285, 289, 291, 298, 307 Justinian and, 343, 345–48 literacy in, 379 Persia and, 308, 310–14, 328, 360, 361 plagues in, 296, 297, 307 Renaissance fascination with, 418–20 social development in, 168, 169, 307, 332, 382, 455, 469, 481, 607 Romania, 290, 312 Romanovs, 459, 499–500, 528, 551 Romans, ancient, 228, 263–64, 269–71, 376, 444 armies of, 265, 277, 289, 292 civil wars of, 281, 283 mythology of, 244, 263 Parthians and, 292–94 Spanish mines of, 155 trade of, 273–76 waterways of, 334–35, 337, 563; see also Roman Empire Roman Warm Period, 290, 297, 299, 599 Rome, city of, 320 medieval, 363, 369 papacy in, 398, 404 population of, 148–49 Silk Road linking China to, 125 Rome (television series), 148 Rong people, 242–44, 263, 278 Royal Astronomical Society, 145n Ruan Ji, 320–21 Russia, 368, 445, 455–60, 482, 488–89, 511, 518, 530, 550, 574, 601, 604–606, 608 Communist, see Soviet Union Russian Revolution, 528 Russo-Japanese War, 17, 525–26, 528 Ryan, William, 81n Sacrifice to Heaven, 340 Sagan, Carl, 613–14, 617 Sahara Desert, 116, 117, 119 Sahlins, Marshall, 106–107, 109, 140 Sakya (India), 262 Salem witch trials, 470 Sandy Creek (Australia), 77 San Francisco–New York railroad, 507 Sanxingdui (China), 214 Saracens, 353, 363 Sardinia, 198, 200, 220, 240 Sargon, 189, 192 Sassanid dynasty, 310 Saudi Arabia, 605n Sautuola, Don Marcelino Sanz de, 73–74 Sautuola, Maria Sanz de, 74–75 Scandinavia, 363, 371 Schechter, Solomon, 365 Schmandt-Besserat, Denise, 124 Schöningen (Germany), 57 Schularick, Moritz, 585 Science Fiction Writers of America, 93 Scientific American (magazine), 125, 154 Scorpion King, 185, 187 Scotland, 353, 451, 472n Scythians, 278, 279, 292, 294 Secret History, The (Procopius), 345 Segestans, 241, 244 Self-Help (Samuels), 503 Seljuk Turks, 363, 366, 367, 372, 374 Sennacherib, King, 247–48 September 11, 2001, terrorist attacks, 551 Serbia, 605 Seven Sages of the Bamboo Grove, 320–21 Seven Samurai, The (film), 440n Severe Acute Respiratory Syndrome (SARS), 603 Severin, Tim, 421n Sexual Politics (Millett), 540 Shakespeare, William, 436 Shalmaneser, King, 247 Shamshi-Adad V, King, 239 Shandong (China), 202, 203, 206, 207, 215 Shang, Lord, 259, 260, 265 Shang dynasty, 123, 124, 209–15, 220–22, 229–31, 235, 285, 610 Shanghai (China), 501n, 503, 524, 548 Shanghai Cooperation Organization, 606 Shangshan (China), 105 Shanidar Cave (Iraq), 57, 59, 60 Shanks, Michael, 141 Sharkalisharri, King, 192, 193 Sheba, Queen of, 234 Sheklesh (Sicilians), 217, 218 Shen, 243 Shen Fu, 514 Shen Kuo, 419–20, 589 Sherden (Sardinians), 217, 218 Sheshonq I, King, 235 Shihuangdi, 267 Shiites, 358, 364, 367, 444–45, 449, 574 Shklovskii, Iosif, 613–14, 617 Shulgi, King, 193–94 Shunzhi, Emperor, 478 Siberia, 79, 125, 455–58, 460 Sicily, 198, 200, 220, 268, 277, 345, 360, 365, 368, 371 archaeological sites in, 95, 240–41, 365–66 Sic et Non (Abelard), 371 Sidonius, 314, 319 Sierra Leone, 146, 147 Silk Roads, 125, 275, 297, 396, 427, 429 silver, 7, 188, 275, 348, 405, 411, 454, 463, 515–16 mining and processing of, 19, 155, 268, 287, 460–62 Sima Qian, 211, 214, 242–43, 250, 282 Singapore, 534, 588 Singularity, the, 592–96 Sistine Chapel, 493 Six Million Dollar Man, The (television show), 594, 597 Six Records of a Floating Life (Shen Fu), 514 “Sixteen Kingdoms of the Five Barbarians,” 306 slaves, 286, 290, 310, 372, 439, 474 in ancient world, 191, 194, 197, 199–200 in colonial Americas, 19, 461–66, 468 in China, 264, 273, 299, 342 Christian, 403, 444 of Portuguese, 414, 416 of Romans, 263–64, 269, 273, 283, 312 Turkic, armies of, 358, 361, 366 in United States, 497 Smalley, Richard, 593 Smerdis, 249 Smil, Vaclav, 608 Smiles, Samuel, 503, 514 Smith, Adam, 39–40, 490, 501, 511 Smith, Grafton Elliot, 222 Socrates, 14, 255, 256, 260, 262 Solomon, King, 234, 235 Solzhenitsyn, Aleksandr, 457 Somalia, 604 Song dynasty, 373–83, 389, 421, 482, 543, 575, 576, 590 collapse of, 386–87, 392, 611, 621 Confucianism in, 423 economy of, 378n, 377–80, 386, 499, 500, 564 social development in, 167, 168, 455, 473, 481, 607 Song Jian, 201 Sons of Heaven, 236, 239, 245 Sophists, 261 South Africa, 47, 61, 63, 519 South Korea, 534, 543, 588, 597 Soviet Union, 526, 530–35, 540–44, 546–51, 553, 578–80, 587, 604, 616 Spain, 287, 309, 311, 347, 353, 365, 404, 466, 472 American colonies of, 413, 460–64, 467, 485 ancient, 33, 159, 189, 193, 215 archaeological sites in, 55, 73 Germanic tribes in, 314–15 Habsburg, 446, 448–49, 460, 462 Muslim, 360, 362, 370, 371, 396 prehistoric, 54, 55, 69, 73, 74, 77 Romans and, 155, 270, 289 Spanish Armada, 316, 573–74 Spanish Inquisition, 574 Sparta, 268, 524 Special Economic Zones, 548 Speer, Albert, 579 Spencer, Herbert, 135, 138, 139, 142, 148, 544 Spice Islands, 379, 431, 575 Springs and Autumns of Mr. Lü, 204–207 Springs and Autumns of the State of Lu, 244n Sri Lanka, 16, 273, 408 Stalin, Joseph, 530–31, 534, 542, 579 Stanford University, 23, 110, 141, 597 Stargate (television series), 186 “Star Wars” anti-ballistic-missile shield, 591 state failure, 28, 217, 224, 298, 451, 453–54, 459, 598, 604, 611 Steffens, Lincoln, 531 Steinbeck, John, 535–36 Stephenson, George, 509 Stern Review, 600, 601, 609 Stigler, Stephen, 568 Stoics, 308n Stoke-on-Trent (England), 498, 500 Stone Age, 381, 457, 610 Stonehenge, 182, 189 Stratagems of the Warring States, 263, 266 Stroganov family, 460 Sturges, John, 440n Sudan, 200, 247 Suez Canal, 507 Sufis, 367 Sui dynasty, 333, 336–37, 354, 543 Suleiman, Sultan, 444, 446, 449, 457 Sullivan, Arthur, 522–23 Sumatra, 360 Sumerians, 186, 188–89, 193, 194, 196 Sun Microsystems, 612 Sunnis, 358, 364n, 367, 371 Susa (Mesopotamia), 179–80, 203 Suzhou (China), 501n Sweden, 200 Sykes, Bryan, 110–12 Syracuse, 242 Syria, 90, 346, 352, 366, 392, 605 ancient, 184, 189, 196, 198–200, 216, 218, 220, 246, 248, 296, 308, 311, 323 archaeological sites in, 90–91, 94, 96, 97, 101, 104, 122, 123 plague in, 398 Tacitus, 307 Taiwan, 127, 212, 543, 548, 588 Taiyuan (China), 342 Taizong, Emperor, 457 Taizu, Emperor, 373, 374 Tajikistan, 606n Tale of Genji, The, 360 Taliban, 571 Tamerlane, 401, 407, 574–75 Tan, Amy, 51 Tang, Duke of, 355 Tang dynasty, 333, 355–356, 360, 373, 420, 457, 587 Tanguts, 374, 376 Tang Xianzu, 436 Taosi (China), 203–208, 223, 562 Tarim Basin, mummies of, 125, 126 Tatars, 391 Teach, Edward (“Blackbeard”), 485 technology, 20, 315, 497, 510, 540, 547, 615 information, see information technology maritime, 416, 499, 576 prehistoric, 47–50, 80 social development and, 139, 148, 226, 499–501, 509 weapons, 402–403, 548, 591–92, 606, 615–16, 618 Tell Brak (Syria), 181, 184 Tell Leilan (Syria), 192, 193, 206 Temps modernes, Les (journal), 106 Temujin, 388 Tenochtitlán, 417, 421, 426, 429, 431–33, 460 Terracotta Army, 282, 285 Teshik-Tash (Uzbekistan), 59 Thailand, 120, 127, 534 Thebes (Egypt), 193, 194, 215, 219 Theodora, Empress, 344, 345, 363n Theodosius, Emperor, 315, 326 Three Dynasties Chronology Project, 201, 214 Thucydides, 268, 296 Tiananmen Square massacre, 549, 586 Tibet, 458 Tierra del Fuego, 139 Tiglath-Pileser III, King, 245–49, 269, 303, 316, 335, 567 Tilley, Christopher, 141 Tinghai (China), 145, 148 Tokyo, 501n, 503, 523, 524 population of, 149, 152, 482n Tolkien, J.R.R., 53 Tolstoy, Leo, 113, 284 Tomyris, Queen of Massagetae, 278 Tongling (China), 210 Treasure Fleets, 408, 416, 426, 429 Treasury Bonds, U.S., 585 Treatise on Agriculture (Wang Zhen), 379, 420n Tripitaka (“Three Baskets” of Buddhist canon), 256 Trobriand Islands, 133, 137 Troy, 199, 241 True Levellers, 452 Tunisia, 315, 364 Turkana Boy, 45, 52, 57 Turkey, 81, 97, 197n, 431, 443–46, 452, 453, 459–61, 528, 605n archaeological sites in, 96, 100, 102–103, 105, 123–25 modernization of, 571 Turkic peoples, 348, 349, 354–56, 358, 361, 364, 366–67, 372, 567; Ottoman, see Ottomans Turkmenistan, 125, 189 2001: A Space Odyssey (Clarke), 63, 149, 182, 183 Ugarit (Syria), 216, 217, 220, 225 Ukraine, 196, 295, 458 Uluburun (Anatolia), 200 ’Umar, 351 Undefeated Sun, 323 United Arab Emirates, 605n United Monarchy, 234 United Nations, 150, 610 Food and Agriculture Organization, 601 Human Development Index, 145–47, 149–50 Intergovernmental Panel on Climate Change (IPCC), 599 United States, 31, 35, 158, 488, 531, 601n, 604, 605, 612, 634 carbon emissions of, 18, 538, 609 China and, 518, 546–47, 585–88, 606 diseases in, 603 economy of, 12, 34, 225, 529–31, 535, 540–41, 542, 553, 578, 582, 588, 597, 598, 615 emigration to, 509, 603 impact of climate change in, 600 industrialization in, 510, 521 Japan and, 10, 534 military spending in, 548, 631 neo-evolutionary theory in, 138–39 nuclear weapons and, 605–606, 608, 616 September 11, 2001, terrorist attacks on, 551 Soviet Union and, 526, 527, 533–35, 540–42, 550, 580, 616 technology in, 542, 594, 597, 615 in Vietnam War, 535 in World War I, 529 in World War II, 52, 532, 533, 579 Universal History (Polybius), 263–64 Ur (Mesopotamia), 193–94 Royal Cemetery of, 188–89 Urartu, 248 Urban II, Pope, 372 Uruk (Mesopotamia), 181–88, 190, 192, 194, 203, 206, 207, 210, 223, 229, 562, 610 Uzbekistan, 59, 366, 606n Vagnari (Italy), 273 Valencia, 438 Valens, Emperor, 312, 313 Valerian, Emperor, 310, 328 Vandals, 313, 315, 316, 345 Vedas, 137 Venice, 371, 373, 384, 392, 402, 404, 420n, 427, 429, 431–32, 459 Venter, Craig, 595, 596 Verne, Jules, 507, 511 Vespasian, Emperor, 286 Viagra, 594 Victoria, Queen of England, 6, 7, 10–11, 14, 148 Vienna, Congress of, 489 Vietnam, 11, 127, 407, 408, 587 Vietnam War, 106, 140, 141, 502n, 535 Vikings, 363, 364, 371, 421, 427 Vinland, 371 Virgil, 286 Voltaire, 13, 280, 472–74, 481 von Däniken, Erich, 182–83, 186, 189, 194, 215, 253, 399, 410, 614n Voyage on the Red Sea, The, 273, 275 Wagner, Lindsay, 594 Wales, 472n Wal-Mart, 553 Wang Anshi, 376, 421 Wang Feng, 18 Wang Mang, Emperor, 299 Wang Qirong, 210–11 Wang Yangming, 426, 453, 473n Wang Zhen, 379–80, 420n Wanli, Emperor, 442–43 War and Peace (Tolstoy), 113 Wardi, al-, 398 War of the East, 524, 532 Warring States period, 244n, 264 War of the West, 486–89, 524, 526, 532, 534, 550 Waterloo, battle of, 486 Watt, James, 494–97, 500, 502, 504, 567, 568, 573 Wayne, John, 18 Wealth and Poverty of Nations, The (Landes), 17 weapons, 151, 180, 185, 197, 217, 295, 389 in China, 305, 374, 380 nuclear, see nuclear weapons high-tech, 548, 591–92, 615–16, 618 iron and bronze, 128–29, 181, 191, 200, 208, 233–34, 276 of mass destruction, 605 prehistoric, 57, 80 siege, 277 in World War I, 526; see also guns Weber, Max, 136–37 Wedgwood, Josiah, 498 Wei (China), 265, 266, 335n Weiss, Harvey, 192 Wellington, Duke of, 486 Wendi, Emperor, 337, 345, 346, 354 West Germany, 533, 535 Wheeler, Brigadier Mortimer, 274–75 White, Leslie, 148 Whitney, Eli, 496 Wilhelm II, Kaiser, 524, 525 Wilkinson, John (“Iron-Mad”), 495 William I (“the Conqueror”), King, 194 William of Orange, 20 Wire, The (television show), 442 Woods, Tiger, 594 Wordsworth, William, 491–92 World Bank, 547, 603 World Health Organization, 603–604 World Trade Organization, 610 World War I, 65, 133, 526–29, 531, 533, 605 World War II, 17, 52, 254, 273–75, 526, 531–34, 565, 578, 579, 608 Wozniak, Steve, 542 Wright brothers, 510 Wu (China), 245, 524 Wu, King, 229–31 Wudi, Emperor (Han dynasty), 285, 294, 457 Wudi, Emperor (Liang dynasty), 329 Wuding, King, 212–15, 220, 221 Wu Zetian, 340–42, 344, 345, 355, 363n Wuzong, Emperor, 375 Xia dynasty, 205–209, 214, 235, 245 Xian, Marquis, 251 Xianbei, 335–36 Xiandi, Emperor, 302–304 Xianfeng, Emperor, 10 Xiangyang (China), 392 Xiaowen, Emperor, 336, 338, 362 Xiongnu, 293–95, 298, 299, 301, 303–305, 310, 314, 349, 354 Xishan (China), 124 Xishuipo (China), 126 Xuan, King, 242 Xuan, Marquis, 251 Xuanzong, Emperor, 355–57, 359 Xuchang (China), 79 Xu Fu, 421n Xunzi, 259 Yahgan people, 139 Yale University, 30, 192 Yan (China), 265n Yang, Prince, 221 Yang Guifei, 355–56, 424 Yangzhou (China), 442 Yanshi (China), 209 Yan Wenming, 120, 121 Yellow Turbans, 302 Yemen, 349 Yesugei, 388 Yih, King, 233 Yom Kippur/Ramadan conflict, 90 Yongle, Emperor, 406, 407, 413, 414, 416, 426, 429 You, King, 242–43, 355 Younger Dryas, 92–94, 96, 100, 114, 119, 122, 175, 577–78 Yu, King, 204–208, 214 Yuan dynasty, 587 Yuan Shikai, 528 Yue (China), 524 Yu Hong, 342 Yukichi, Fukuzawa, 15 Zemeckis, Robert, 572 Zeno, Emperor, 316–17 Zenobia, Queen, 311 Zhang Zhuzheng, 442–43 Zhao, King, 232 Zhao (China), 265, 266, 279 Zhaodun, 252–53 Zheng, King, 266–67 Zheng (China), 244 Zhengde, Emperor, 441 Zheng He, 16, 17, 407, 408, 413, 417, 420n, 426, 429, 433, 589 Zhengtong, Emperor, 413, 416, 417 Zhengzhou (China), 209–10, 212 Zhou, Duke of, 230, 257 Zhou, Madame, 424, 426 Zhou dynasty, 214, 221–22, 229–37, 242–45, 250–51, 253, 257, 278, 285, 355, 359n, 369 Zhoukoudian (China), 51–55, 57, 60, 72, 78, 154, 210n, 211 Zhou Man, 408, 410, 413 Zhuangzi, 257–59 Zhu Xi, 422–24, 426, 453 Zhu Yuanzhang, 404–405 Zoroaster, 254n Zoroastrianism, 328, 342 Zuozhuan (commentary on historical documents), 252–53 *Some people think Chinese sailors even reached the Americas in the fifteenth century, but, as I will try to show in Chapter 8, these claims are probably fanciful.


pages: 864 words: 272,918

Palo Alto: A History of California, Capitalism, and the World by Malcolm Harris

2021 United States Capitol attack, Aaron Swartz, affirmative action, air traffic controllers' union, Airbnb, Alan Greenspan, Alvin Toffler, Amazon Mechanical Turk, Amazon Web Services, Apple II, Apple's 1984 Super Bowl advert, back-to-the-land, bank run, Bear Stearns, Big Tech, Bill Gates: Altair 8800, Black Lives Matter, Bob Noyce, book scanning, British Empire, business climate, California gold rush, Cambridge Analytica, capital controls, Charles Lindbergh, classic study, cloud computing, collective bargaining, colonial exploitation, colonial rule, Colonization of Mars, commoditize, company town, computer age, conceptual framework, coronavirus, corporate personhood, COVID-19, cuban missile crisis, deindustrialization, Deng Xiaoping, desegregation, deskilling, digital map, double helix, Douglas Engelbart, Edward Snowden, Elon Musk, Erlich Bachman, estate planning, European colonialism, Fairchild Semiconductor, financial engineering, financial innovation, fixed income, Frederick Winslow Taylor, fulfillment center, future of work, Garrett Hardin, gentrification, George Floyd, ghettoisation, global value chain, Golden Gate Park, Google bus, Google Glasses, greed is good, hiring and firing, housing crisis, hydraulic fracturing, if you build it, they will come, illegal immigration, immigration reform, invisible hand, It's morning again in America, iterative process, Jeff Bezos, Joan Didion, John Markoff, joint-stock company, Jony Ive, Kevin Kelly, Kickstarter, knowledge worker, land reform, Larry Ellison, Lean Startup, legacy carrier, life extension, longitudinal study, low-wage service sector, Lyft, manufacturing employment, Marc Andreessen, Marc Benioff, Mark Zuckerberg, Marshall McLuhan, Max Levchin, means of production, Menlo Park, Metcalfe’s law, microdosing, Mikhail Gorbachev, military-industrial complex, Monroe Doctrine, Mont Pelerin Society, moral panic, mortgage tax deduction, Mother of all demos, move fast and break things, mutually assured destruction, new economy, Oculus Rift, off grid, oil shale / tar sands, PageRank, PalmPilot, passive income, Paul Graham, paypal mafia, Peter Thiel, pets.com, phenotype, pill mill, platform as a service, Ponzi scheme, popular electronics, power law, profit motive, race to the bottom, radical life extension, RAND corporation, Recombinant DNA, refrigerator car, Richard Florida, ride hailing / ride sharing, rising living standards, risk tolerance, Robert Bork, Robert Mercer, Robert Metcalfe, Ronald Reagan, Salesforce, San Francisco homelessness, Sand Hill Road, scientific management, semantic web, sexual politics, Sheryl Sandberg, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, social web, SoftBank, software as a service, sovereign wealth fund, special economic zone, Stanford marshmallow experiment, Stanford prison experiment, stem cell, Steve Bannon, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, stock buybacks, strikebreaker, Suez canal 1869, super pumped, TaskRabbit, tech worker, Teledyne, telemarketer, the long tail, the new new thing, thinkpad, Thorstein Veblen, Tim Cook: Apple, Tony Fadell, too big to fail, Toyota Production System, Tragedy of the Commons, transcontinental railway, traumatic brain injury, Travis Kalanick, TSMC, Uber and Lyft, Uber for X, uber lyft, ubercab, union organizing, Upton Sinclair, upwardly mobile, urban decay, urban renewal, value engineering, Vannevar Bush, vertical integration, Vision Fund, W. E. B. Du Bois, War on Poverty, warehouse robotics, Wargames Reagan, Washington Consensus, white picket fence, William Shockley: the traitorous eight, women in the workforce, Y Combinator, Y2K, Yogi Berra, éminence grise

Cook depended on those relationships at Compaq, and at Apple he turned to one of his former contractors: Terry Gou, the politically connected head of the Taiwanese electronics firm Hon Hai Precision Industry Co., Ltd.—better known as Foxconn.56 Foxconn excelled by navigating the global electronics industry through Taiwan into China’s capital-friendly special economic zones, now the world’s hottest production enclaves. The People’s Republic of China invested heavily in the transition from low-value commodity manufacturing to high-value electronics, and Foxconn reaped the benefits, the lion’s share of which it passed on to Apple. Starting with the iPod, Foxconn proved itself Apple’s most reliable contractor, and Gou was able to leverage his relationship with Beijing to scale in line with exploding demand.

While Russia grew billionaires instead of output, China saw a path to have both. As in the case of Terry Gou, the Chinese Communist Party tempered its transition by incorporating steadily increasing amounts of foreign direct investment through Hong Kong and Taiwan, picking partners and expanding outward from the special economic zones. State support for education and infrastructure combined with low wages to make the mainland too attractive to resist. (Russia’s population is stagnant, while China’s has grown quickly.) China’s entry into the World Trade Organization, in 2001, gave investors more confidence. Meanwhile, strong capital controls kept the country out of the offshore trap, and state development priorities took precedence over extraction and get-rich-quick schemes.


pages: 437 words: 115,594

The Great Surge: The Ascent of the Developing World by Steven Radelet

Admiral Zheng, agricultural Revolution, Asian financial crisis, bank run, Berlin Wall, biodiversity loss, Boeing 747, Branko Milanovic, business climate, business process, call centre, Capital in the Twenty-First Century by Thomas Piketty, clean water, colonial rule, creative destruction, demographic dividend, Deng Xiaoping, Dissolution of the Soviet Union, Doha Development Round, Erik Brynjolfsson, European colonialism, export processing zone, F. W. de Klerk, failed state, Francis Fukuyama: the end of history, Gini coefficient, global pandemic, global supply chain, Great Leap Forward, income inequality, income per capita, Intergovernmental Panel on Climate Change (IPCC), invention of the steam engine, James Watt: steam engine, John Snow's cholera map, Joseph Schumpeter, Kenneth Arrow, land reform, low interest rates, low skilled workers, M-Pesa, megacity, middle-income trap, Mikhail Gorbachev, Nelson Mandela, off grid, oil shock, out of africa, purchasing power parity, race to the bottom, randomized controlled trial, Robert Gordon, Robert Solow, Second Machine Age, secular stagnation, Shenzhen special economic zone , Sheryl Sandberg, Simon Kuznets, South China Sea, special economic zone, standardized shipping container, Steven Pinker, The Wealth of Nations by Adam Smith, Thomas Malthus, three-masted sailing ship, trade route, women in the workforce, working poor

Her family had lived there for centuries, scratching out a minimal existence through farming on the dry, wind-blown soil of the Loess Plateau. Not long after Huan was born, with the Chinese economy beginning to boom along the coastal areas, her parents decided to take a huge risk and leave their ancestral home in search of higher wages and greater economic opportunities in the special economic zone of Shenzhen. They had to leave Huan behind with her grandparents, which was a major sacrifice for everyone. Fortunately, her parents were successful in getting good jobs and earning some money, so they could send her to a better primary school and to the only college in the region. Huan excelled as a student at Longdong College.


pages: 437 words: 113,173

Age of Discovery: Navigating the Risks and Rewards of Our New Renaissance by Ian Goldin, Chris Kutarna

"World Economic Forum" Davos, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, Airbnb, Albert Einstein, AltaVista, Asian financial crisis, asset-backed security, autonomous vehicles, banking crisis, barriers to entry, battle of ideas, Bear Stearns, Berlin Wall, bioinformatics, bitcoin, Boeing 747, Bonfire of the Vanities, bread and circuses, carbon tax, clean water, collective bargaining, Colonization of Mars, Credit Default Swap, CRISPR, crowdsourcing, cryptocurrency, Dava Sobel, demographic dividend, Deng Xiaoping, digital divide, Doha Development Round, double helix, driverless car, Edward Snowden, Elon Musk, en.wikipedia.org, epigenetics, experimental economics, Eyjafjallajökull, failed state, Fall of the Berlin Wall, financial innovation, full employment, Galaxy Zoo, general purpose technology, Glass-Steagall Act, global pandemic, global supply chain, Higgs boson, Hyperloop, immigration reform, income inequality, indoor plumbing, industrial cluster, industrial robot, information retrieval, information security, Intergovernmental Panel on Climate Change (IPCC), intermodal, Internet of things, invention of the printing press, Isaac Newton, Islamic Golden Age, Johannes Kepler, Khan Academy, Kickstarter, Large Hadron Collider, low cost airline, low skilled workers, Lyft, Mahbub ul Haq, Malacca Straits, mass immigration, Max Levchin, megacity, Mikhail Gorbachev, moral hazard, Nelson Mandela, Network effects, New Urbanism, non-tariff barriers, Occupy movement, On the Revolutions of the Heavenly Spheres, open economy, Panamax, Paris climate accords, Pearl River Delta, personalized medicine, Peter Thiel, post-Panamax, profit motive, public intellectual, quantum cryptography, rent-seeking, reshoring, Robert Gordon, Robert Metcalfe, Search for Extraterrestrial Intelligence, Second Machine Age, self-driving car, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, smart grid, Snapchat, special economic zone, spice trade, statistical model, Stephen Hawking, Steve Jobs, Stuxnet, synthetic biology, TED Talk, The Future of Employment, too big to fail, trade liberalization, trade route, transaction costs, transatlantic slave trade, uber lyft, undersea cable, uranium enrichment, We are the 99%, We wanted flying cars, instead we got 140 characters, working poor, working-age population, zero day

China’s urban population catapulted from about 200 million to almost 400 million people in four short, hectic years of transformation.48 China’s next urban boom began after 1992: Deng Xiaoping embarked on his historic Southern Tour of China’s southeast coastal region (during which he may have proclaimed, “To get rich is glorious”), solidified pro-market reforms as Communist Party dogma, and prompted an export-driven expansion that lured rural labor to the coast. Shenzhen, on China’s Pearl River Delta, became the modern-day Seville. A fishing village of some 10,000 people during the 1970s, it was anointed a Special Economic Zone in 1979 and reached 2.5 million inhabitants over the next decade. After the Southern Tour, growth leapt into a new gear: by the year 2000, Shenzhen’s population topped 8 million and by 2015, 10 million (or 15 million, counting migrant laborers).49 The story was repeated in dozens of other places, so that today over half of China’s population—nearly 800 million people—lives in its cities.50 In one generation, almost half a billion people—equal to the present population of the European Union—relocated.


pages: 453 words: 117,893

What Would the Great Economists Do?: How Twelve Brilliant Minds Would Solve Today's Biggest Problems by Linda Yueh

3D printing, additive manufacturing, Asian financial crisis, augmented reality, bank run, banking crisis, basic income, Bear Stearns, Ben Bernanke: helicopter money, Berlin Wall, Bernie Sanders, Big bang: deregulation of the City of London, bike sharing, bitcoin, Branko Milanovic, Bretton Woods, BRICs, business cycle, Capital in the Twenty-First Century by Thomas Piketty, clean water, collective bargaining, computer age, Corn Laws, creative destruction, credit crunch, Credit Default Swap, cryptocurrency, currency peg, dark matter, David Ricardo: comparative advantage, debt deflation, declining real wages, deindustrialization, Deng Xiaoping, Doha Development Round, Donald Trump, endogenous growth, everywhere but in the productivity statistics, export processing zone, Fall of the Berlin Wall, fear of failure, financial deregulation, financial engineering, financial innovation, Financial Instability Hypothesis, fixed income, forward guidance, full employment, general purpose technology, Gini coefficient, Glass-Steagall Act, global supply chain, Great Leap Forward, Gunnar Myrdal, Hyman Minsky, income inequality, index card, indoor plumbing, industrial robot, information asymmetry, intangible asset, invisible hand, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, joint-stock company, Joseph Schumpeter, laissez-faire capitalism, land reform, lateral thinking, life extension, low interest rates, low-wage service sector, manufacturing employment, market bubble, means of production, middle-income trap, mittelstand, Money creation, Mont Pelerin Society, moral hazard, mortgage debt, negative equity, Nelson Mandela, non-tariff barriers, Northern Rock, Occupy movement, oil shale / tar sands, open economy, paradox of thrift, Paul Samuelson, price mechanism, price stability, Productivity paradox, purchasing power parity, quantitative easing, RAND corporation, rent control, rent-seeking, reserve currency, reshoring, road to serfdom, Robert Shiller, Robert Solow, Ronald Coase, Ronald Reagan, school vouchers, secular stagnation, Shenzhen was a fishing village, Silicon Valley, Simon Kuznets, special economic zone, Steve Jobs, technological determinism, The Chicago School, The Wealth of Nations by Adam Smith, Thomas Malthus, too big to fail, total factor productivity, trade liberalization, universal basic income, unorthodox policies, Washington Consensus, We are the 99%, women in the workforce, working-age population

Foreign direct investment that established Chinese–foreign joint ventures and other foreign-invested enterprises were explicitly geared towards exports and prevented from selling into the domestic market, which protected Chinese industries from foreign competition. They were initially located in Special Economic Zones, which were created as export-processing zones similar to its East Asian neighbours. China thus became integrated with East Asia, as it joined regional and global production chains, and eventually became the world’s largest trader. Undoubtedly, foreign investment and export-orientation benefited its economic growth, but China’s policies defy easy categorization as they have always been uniquely tailored to the country’s circumstances.


pages: 374 words: 113,126

The Great Economists: How Their Ideas Can Help Us Today by Linda Yueh

3D printing, additive manufacturing, Asian financial crisis, augmented reality, bank run, banking crisis, basic income, Bear Stearns, Ben Bernanke: helicopter money, Berlin Wall, Bernie Sanders, Big bang: deregulation of the City of London, bike sharing, bitcoin, Branko Milanovic, Bretton Woods, BRICs, business cycle, Capital in the Twenty-First Century by Thomas Piketty, clean water, collective bargaining, computer age, Corn Laws, creative destruction, credit crunch, Credit Default Swap, cryptocurrency, currency peg, dark matter, David Ricardo: comparative advantage, debt deflation, declining real wages, deindustrialization, Deng Xiaoping, Doha Development Round, Donald Trump, endogenous growth, everywhere but in the productivity statistics, export processing zone, Fall of the Berlin Wall, fear of failure, financial deregulation, financial engineering, financial innovation, Financial Instability Hypothesis, fixed income, forward guidance, full employment, general purpose technology, Gini coefficient, Glass-Steagall Act, global supply chain, Great Leap Forward, Gunnar Myrdal, Hyman Minsky, income inequality, index card, indoor plumbing, industrial robot, information asymmetry, intangible asset, invisible hand, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, joint-stock company, Joseph Schumpeter, laissez-faire capitalism, land reform, lateral thinking, life extension, low interest rates, manufacturing employment, market bubble, means of production, middle-income trap, mittelstand, Money creation, Mont Pelerin Society, moral hazard, mortgage debt, negative equity, Nelson Mandela, non-tariff barriers, Northern Rock, Occupy movement, oil shale / tar sands, open economy, paradox of thrift, Paul Samuelson, price mechanism, price stability, Productivity paradox, purchasing power parity, quantitative easing, RAND corporation, rent control, rent-seeking, reserve currency, reshoring, road to serfdom, Robert Shiller, Robert Solow, Ronald Coase, Ronald Reagan, school vouchers, secular stagnation, Shenzhen was a fishing village, Silicon Valley, Simon Kuznets, special economic zone, Steve Jobs, technological determinism, The Chicago School, The Wealth of Nations by Adam Smith, Thomas Malthus, too big to fail, total factor productivity, trade liberalization, universal basic income, unorthodox policies, Washington Consensus, We are the 99%, women in the workforce, working-age population

Foreign direct investment that established Chinese–foreign joint ventures and other foreign-invested enterprises were explicitly geared towards exports and prevented from selling into the domestic market, which protected Chinese industries from foreign competition. They were initially located in Special Economic Zones, which were created as export-processing zones similar to its East Asian neighbours. China thus became integrated with East Asia, as it joined regional and global production chains, and eventually became the world’s largest trader. Undoubtedly, foreign investment and export-orientation benefited its economic growth, but China’s policies defy easy categorization as they have always been uniquely tailored to the country’s circumstances.


pages: 366 words: 117,875

Arrival City by Doug Saunders

agricultural Revolution, Ayatollah Khomeini, Berlin Wall, Boeing 747, Branko Milanovic, call centre, credit crunch, Deng Xiaoping, desegregation, foreign exchange controls, gentrification, ghettoisation, Gini coefficient, guest worker program, Hernando de Soto, Honoré de Balzac, illegal immigration, immigration reform, income inequality, informal economy, Jane Jacobs, Kibera, land reform, land tenure, low skilled workers, mass immigration, megacity, microcredit, new economy, Pearl River Delta, pensions crisis, place-making, price mechanism, rent control, Silicon Valley, special economic zone, the built environment, The Chicago School, The Death and Life of Great American Cities, upwardly mobile, urban planning, urban sprawl, white flight, working poor, working-age population

Millions of other workers have come to the same conclusion. Shenzhen, on the southern mainland of China across the Deep Bay from Hong Kong, is the world’s largest purpose-built arrival city. As recently as 1980, it was a fishing village of 25,000 people; then Chairman Deng Xiaoping declared it the first Special Economic Zone, exempt from restrictions on movements of workers and freely allowed to practice capitalism, and it quickly swelled into an industrial hub whose population, by the end of the twentieth century, was officially almost nine million but more likely in excess of 14 million, owing to the masses of semi-permanent village migrants from all over China who pack its workers’ dormitories.


pages: 501 words: 114,888

The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives by Peter H. Diamandis, Steven Kotler

Ada Lovelace, additive manufacturing, Airbnb, Albert Einstein, AlphaGo, Amazon Mechanical Turk, Amazon Robotics, augmented reality, autonomous vehicles, barriers to entry, Big Tech, biodiversity loss, bitcoin, blockchain, blood diamond, Boston Dynamics, Burning Man, call centre, cashless society, Charles Babbage, Charles Lindbergh, Clayton Christensen, clean water, cloud computing, Colonization of Mars, computer vision, creative destruction, CRISPR, crowdsourcing, cryptocurrency, data science, Dean Kamen, deep learning, deepfake, DeepMind, delayed gratification, dematerialisation, digital twin, disruptive innovation, Donald Shoup, driverless car, Easter island, Edward Glaeser, Edward Lloyd's coffeehouse, Elon Musk, en.wikipedia.org, epigenetics, Erik Brynjolfsson, Ethereum, ethereum blockchain, experimental economics, fake news, food miles, Ford Model T, fulfillment center, game design, Geoffrey West, Santa Fe Institute, gig economy, gigafactory, Google X / Alphabet X, gravity well, hive mind, housing crisis, Hyperloop, impact investing, indoor plumbing, industrial robot, informal economy, initial coin offering, intentional community, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invention of the telegraph, Isaac Newton, Jaron Lanier, Jeff Bezos, job automation, Joseph Schumpeter, Kevin Kelly, Kickstarter, Kiva Systems, late fees, Law of Accelerating Returns, life extension, lifelogging, loss aversion, Lyft, M-Pesa, Mary Lou Jepsen, Masayoshi Son, mass immigration, megacity, meta-analysis, microbiome, microdosing, mobile money, multiplanetary species, Narrative Science, natural language processing, Neal Stephenson, Neil Armstrong, Network effects, new economy, New Urbanism, Nick Bostrom, Oculus Rift, One Laptop per Child (OLPC), out of africa, packet switching, peer-to-peer lending, Peter H. Diamandis: Planetary Resources, Peter Thiel, planned obsolescence, QR code, RAND corporation, Ray Kurzweil, RFID, Richard Feynman, Richard Florida, ride hailing / ride sharing, risk tolerance, robo advisor, Satoshi Nakamoto, Second Machine Age, self-driving car, Sidewalk Labs, Silicon Valley, Skype, smart cities, smart contracts, smart grid, Snapchat, SoftBank, sovereign wealth fund, special economic zone, stealth mode startup, stem cell, Stephen Hawking, Steve Jobs, Steve Jurvetson, Steven Pinker, Stewart Brand, supercomputer in your pocket, supply-chain management, tech billionaire, technoutopianism, TED Talk, Tesla Model S, Tim Cook: Apple, transaction costs, Uber and Lyft, uber lyft, unbanked and underbanked, underbanked, urban planning, Vision Fund, VTOL, warehouse robotics, Watson beat the top human players on Jeopardy!, We wanted flying cars, instead we got 140 characters, X Prize

A second design by the San Francisco–based Seasteading Institute is being tested in the waters off French Polynesia. Known as the Floating Island Project, the idea here is less a floating city and more a test platform for the designs of future floating cities. With a hundred acres of beachfront property and a special economic zone for inhabitants, this project is aiming to have a dozen structures erected by 2021. In both locations, sustainability is key. Water capture technologies provide drinking water; an array of greenhouses, vertical farms, and fish farms supply the food; and sunlight, wind power, and wave energy power the whole lot.


pages: 361 words: 117,566

Money Men: A Hot Startup, a Billion Dollar Fraud, a Fight for the Truth by Dan McCrum

air gap, Amazon Web Services, Bernie Madoff, Big Tech, bitcoin, Brexit referendum, Buckminster Fuller, call centre, Cambridge Analytica, centre right, Citizen Lab, corporate governance, corporate raider, COVID-19, Donald Trump, Elon Musk, fake news, forensic accounting, Internet Archive, Kinder Surprise, lockdown, Market Wizards by Jack D. Schwager, multilevel marketing, new economy, off-the-grid, offshore financial centre, pirate software, Ponzi scheme, Potemkin village, price stability, profit motive, reality distortion field, rolodex, Salesforce, short selling, Silicon Valley, Skype, SoftBank, sovereign wealth fund, special economic zone, Steve Jobs, Vision Fund, WeWork

In 2016 Kleinschmidt was invited to a meeting with an Austrian billionaire known as a bridge between the East and the West; before the wall fell he did business with the Stasi, the East German secret police, who called him ‘The Count’, and for a while owned a casino with the Palestinian leader Yasser Arafat. Also there was the head of one of Europe’s largest construction groups. They wanted to do something on migration in Egypt, so Kleinschmidt wrote a paper on stabilization, advocating solutions such as refugee cities and special economic zones. What the money men appear to have wanted was his good name as an expert behind the idea of controlling migrant flows, because immigration won elections. In May 2017 Sebastian Kurz, the future Austrian chancellor who was then foreign minister, travelled to Libya to use Tripoli as a backdrop for some of his right-wing talking points: ‘migrants who are saved in the Mediterranean should not be guaranteed a ticket to Central Europe’, etc.


pages: 382 words: 127,510

Outposts: Journeys to the Surviving Relics of the British Empire by Simon Winchester

borderless world, British Empire, colonial rule, Corn Laws, Edmond Halley, European colonialism, gentleman farmer, illegal immigration, Khyber Pass, laissez-faire capitalism, offshore financial centre, sensible shoes, South China Sea, special economic zone, Suez canal 1869, the market place, three-masted sailing ship

Ten miles away from the frontier, still deep inside a China of timeless rural peace—workers knee-deep in the paddy fields, ducks straggling along the roadside, the occasional bullock-cart lumbering down a muddy lane—we passed two unexpected signs of the new, post-Mao order: a petrol station, run by Texaco (though no cars were taking advantage of it), and a tall, electrified fence, with watchtowers and a massive and well-guarded border control post, such as you might find when taking the autobahn from Vienna to Budapest. This was not the frontier with Hong Kong, however. It was a new ‘internal’ frontier that divided the special economic zone of Shen Zhen from Marxist orthodoxies of the rest of China—the zone being a sort of halfway house, an airlock, between the rigidities of the Communist world and the laissez-faire capitalism of the Crown colony. It is a frantically busy place, with factories and tower blocks and hotels (most of them paid for by wealthy Hong Kong investors) rising out of the paddy fields, and restaurants jammed solid with a new Chinese élite who are making money on a scale of which Mao would never have dreamed.


pages: 421 words: 120,332

The World in 2050: Four Forces Shaping Civilization's Northern Future by Laurence C. Smith

Boeing 747, Bretton Woods, BRICs, business cycle, clean water, climate change refugee, Climategate, colonial rule, data science, deglobalization, demographic transition, Deng Xiaoping, Easter island, electricity market, energy security, flex fuel, G4S, global supply chain, Google Earth, Great Leap Forward, guest worker program, Hans Island, hydrogen economy, ice-free Arctic, informal economy, Intergovernmental Panel on Climate Change (IPCC), invention of agriculture, invisible hand, land tenure, Martin Wolf, Medieval Warm Period, megacity, megaproject, Mikhail Gorbachev, New Urbanism, oil shale / tar sands, oil shock, peak oil, Pearl River Delta, purchasing power parity, Ronald Reagan, Ronald Reagan: Tear down this wall, side project, Silicon Valley, smart grid, sovereign wealth fund, special economic zone, standardized shipping container, The Wealth of Nations by Adam Smith, Thomas Malthus, trade liberalization, trade route, Tragedy of the Commons, UNCLOS, UNCLOS, urban planning, Washington Consensus, Y2K

Knox et al., The Geography of the World Economy, 5th ed. (London: Hodder Education, 2008), 464 pp. 47 Governments around the world are doing their part to help encourage all this. A new survey of 245 of the world’s fastest-growing cities found them building transportation systems, designating “special economic zones,” and streamlining their banking and financial systems. State of the World’s Cities 2008/2009, United Nations Human Settlements Programme (UN-HABITAT) (UK and USA: Earthscan, 2008). 48 World Urbanization Prospects: The 2007 Revision, United Nations, Department of Economic and Social Affairs, Population Division, 2008. 49 State of the World’s Cities 2008/2009, UN-HABITAT, 2008. 50 Press Conference, United Nations Department of Public Information, News and Media Division, New York, February 26, 2008. 51 UN-HABITAT Press Release, SOWC/08/PR2, 2008. 52 Table I.7, World Urbanization Prospects: The 2007 Revision, United Nations, Department of Economic and Social Affairs, Population Division, 2008. 53 66.2% urban in 2050 versus 40.8% urban in 2007; whereas Europe was 72.2% urban in 2007 and is projected to be 76.2% urban in 2050.


pages: 481 words: 121,300

Why geography matters: three challenges facing America : climate change, the rise of China, and global terrorism by Harm J. De Blij

agricultural Revolution, airport security, Anton Chekhov, Ayatollah Khomeini, Berlin Wall, British Empire, colonial exploitation, complexity theory, computer age, crony capitalism, demographic transition, Deng Xiaoping, Eratosthenes, European colonialism, F. W. de Klerk, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, global village, Great Leap Forward, high-speed rail, illegal immigration, Internet Archive, John Snow's cholera map, Khyber Pass, manufacturing employment, megacity, megaproject, Mercator projection, MITM: man-in-the-middle, Nelson Mandela, Oklahoma City bombing, out of africa, RAND corporation, risk tolerance, Ronald Reagan, social distancing, South China Sea, special economic zone, Thomas Malthus, trade route, transatlantic slave trade, UNCLOS, UNCLOS

But the provinces whose names are synonymous with the economic rise of China's Pacific Rim are coastal Jiangsu and Zhejiang on either side of Shanghai; Fujian directly opposite Taiwan and for centuries the source of "overseas Chinese" who emigrated to Southeast Asia and whose wealth returned to propel the modern RED STAR RISING 141 Chinese economy; and Guangdong in the south, where the Pearl River Estuary is evolving into one of the world's greatest urban-industrial complexes incorporating Hong Kong, Shenzhen, Guangdong, Zhuhai, and Macau. It was Deng Xiaoping's notion to apply his new economic policies in this coastal zone, where market economics and communist politics would coexist without contaminating the rest of the country. Accordingly, the regime introduced a complicated but effective system of so-called Special Economic Zones (SEZs), which in effect were a series of port cities and coastal areas where foreign technologies and investments were welcomed and where investors were offered capitalist-style incentives. Low-wage labor could be hired, taxes were low, leases were simple, and products could be sold on foreign as well as domestic markets.


pages: 419 words: 125,977

Factory Girls: From Village to City in a Changing China by Leslie T. Chang

anti-communist, Deng Xiaoping, estate planning, fake news, financial independence, Great Leap Forward, index card, invention of writing, job-hopping, land reform, Mason jar, mass immigration, new economy, PalmPilot, Pearl River Delta, risk tolerance, Shenzhen special economic zone , special economic zone, vertical integration

Income in its first year of operation was one million Hong Kong dollars. The factory processed materials from Hong Kong into finished goods, which were shipped back to Hong Kong to be sold to the world. It established the model for thousands of factories to follow. Over the next two years, China set up four “special economic zones” as testing grounds for freeenterprise practices like foreign investment and tax incentives. The largest zone was Shenzhen, about fifty miles south of Dongguan, which quickly became a symbol of a freewheeling China always open for business. Shenzhen was a planned showcase city, willed into being by leaders in Beijing and supported by government ministries and the companies under them.


The Party: The Secret World of China's Communist Rulers by Richard McGregor

activist lawyer, banking crisis, corporate governance, credit crunch, Deng Xiaoping, financial innovation, Gini coefficient, glass ceiling, global reserve currency, Great Leap Forward, haute couture, high-speed rail, hiring and firing, income inequality, invisible hand, kremlinology, land reform, Martin Wolf, megaproject, Mikhail Gorbachev, military-industrial complex, old-boy network, one-China policy, Panopticon Jeremy Bentham, pre–internet, reserve currency, risk/return, Shenzhen special economic zone , South China Sea, sovereign wealth fund, special economic zone, Upton Sinclair

According to this formulation, every jurisdiction is a company, and every company a jurisdiction–all of them with powerful incentives to compete against each other. Beijing has been smart enough to harness local dynamism to test new ideas, and then feed back the successful experiments into the national policy grid. The market economy was built on allowing special economic zones in places like Shenzhen in the early eighties to pursue liberal investment policies, while the rest of the country remained stuck with central planning. Policies on health, pensions and land reform have all been stress-tested at local level in recent years before being expanded nationally.


pages: 1,373 words: 300,577

The Quest: Energy, Security, and the Remaking of the Modern World by Daniel Yergin

"Hurricane Katrina" Superdome, "World Economic Forum" Davos, accelerated depreciation, addicted to oil, Alan Greenspan, Albert Einstein, An Inconvenient Truth, Asian financial crisis, Ayatollah Khomeini, banking crisis, Berlin Wall, bioinformatics, book value, borderless world, BRICs, business climate, California energy crisis, carbon credits, carbon footprint, carbon tax, Carl Icahn, Carmen Reinhart, clean tech, Climategate, Climatic Research Unit, colonial rule, Colonization of Mars, corporate governance, cuban missile crisis, data acquisition, decarbonisation, Deng Xiaoping, Dissolution of the Soviet Union, diversification, diversified portfolio, electricity market, Elon Musk, energy security, energy transition, Exxon Valdez, facts on the ground, Fall of the Berlin Wall, fear of failure, financial innovation, flex fuel, Ford Model T, geopolitical risk, global supply chain, global village, Great Leap Forward, Greenspan put, high net worth, high-speed rail, hydraulic fracturing, income inequality, index fund, informal economy, interchangeable parts, Intergovernmental Panel on Climate Change (IPCC), It's morning again in America, James Watt: steam engine, John Deuss, John von Neumann, Kenneth Rogoff, life extension, Long Term Capital Management, Malacca Straits, market design, means of production, megacity, megaproject, Menlo Park, Mikhail Gorbachev, military-industrial complex, Mohammed Bouazizi, mutually assured destruction, new economy, no-fly zone, Norman Macrae, North Sea oil, nuclear winter, off grid, oil rush, oil shale / tar sands, oil shock, oil-for-food scandal, Paul Samuelson, peak oil, Piper Alpha, price mechanism, purchasing power parity, rent-seeking, rising living standards, Robert Metcalfe, Robert Shiller, Robert Solow, rolling blackouts, Ronald Coase, Ronald Reagan, Sand Hill Road, Savings and loan crisis, seminal paper, shareholder value, Shenzhen special economic zone , Silicon Valley, Silicon Valley billionaire, Silicon Valley startup, smart grid, smart meter, South China Sea, sovereign wealth fund, special economic zone, Stuxnet, Suez crisis 1956, technology bubble, the built environment, The Nature of the Firm, the new new thing, trade route, transaction costs, unemployed young men, University of East Anglia, uranium enrichment, vertical integration, William Langewiesche, Yom Kippur War

So did the bloody 1989 confrontation with students in Tiananmen Square. In the aftermath, amid the indecision of the leadership, the efforts to continue market reform stagnated. Seeking to jump-start the faltering reforms, Deng, in January 1992, launched his last great campaign—the nanxun, or “southern journey.” This trip showcased the booming Special Economic Zone of Shenzhen, which was becoming a manufacturing center for exports, and sought, fundamentally, to erase the stigma from making money. His message was that “the only thing that mattered is developing the economy.” It was during this tour that Deng also made a stunning revelation—he had never actually read the bible of communism, Karl Marx’s Das Kapital.

electricity in natural gas for Chicago Climate Exchange Chicago Edison Chicago Exchange PLC, Chicago World’s Fair (1893) China automobiles in Bamboo Curtain in as BRIC build-out of Caspian Derby and climate change and coal use in Cultural Revolution in defense spending of demand shock and economy and economic growth of electricity in energy and foreign policy issues of energy efficiency in energy security and extreme weather in Great Game and Great Leap Forward in growth and anxiety and Guangdong Province in hydropower in Inner Mongolia in Iran’s relations with Japan’s dispute with job creation in Kazakhstan oil and natural gas of nuclear energy of nuclear weapons of oil demand in oil of opening of overlap of interests in petro-rivalry and pipelines in price of success in renewables in as responsible stakeholder Revolution in Russia’s relations with sea-lane concerns of shale gas production in Soviet relations with Special Economic Zones in total energy consumption of urbanization in U.S. compared with U.S. relations with as workshop of the world China Club China National Petroleum Corporation (CNPC) China Syndrome, The Chirac, Jacques chlorofluorocarbons (CFC) choke points Christensen, Clay Christian Democrats, German Christopher, Warren Chrysler Chu, Steven Chubu Electric Churchill, Winston Churilov, Lev CIA CIGS (Copper, Indium, Gallium di-Selinide) Clay, Lucius Clean Air Act (1970) Clean Air Act Amendments (1990) Clean Development Mechanism (CDM) cleantech Cleveland, Ohio climate human influence on modeling of weather vs.


pages: 518 words: 128,324

Destined for War: America, China, and Thucydides's Trap by Graham Allison

9 dash line, anti-communist, Berlin Wall, borderless world, Bretton Woods, British Empire, capital controls, Carmen Reinhart, conceptual framework, cuban missile crisis, currency manipulation / currency intervention, Deng Xiaoping, disruptive innovation, Donald Trump, Dr. Strangelove, escalation ladder, facts on the ground, false flag, Flash crash, Francis Fukuyama: the end of history, game design, George Santayana, Great Leap Forward, guns versus butter model, Haber-Bosch Process, Herman Kahn, high-speed rail, industrial robot, Internet of things, Kenneth Rogoff, liberal world order, long peace, Mark Zuckerberg, megacity, megaproject, middle-income trap, Mikhail Gorbachev, Monroe Doctrine, mutually assured destruction, Nelson Mandela, one-China policy, Paul Samuelson, Peace of Westphalia, public intellectual, purchasing power parity, RAND corporation, Ronald Reagan, Scramble for Africa, selection bias, Silicon Valley, Silicon Valley startup, South China Sea, special economic zone, spice trade, Suez canal 1869, synthetic biology, TED Talk, the rule of 72, The Wealth of Nations by Adam Smith, too big to fail, trade route, UNCLOS, Washington Consensus, zero-sum game

Learn more at ThucydidesTrap.org CONNECT WITH HMH ON SOCIAL MEDIA * * * Follow us for book news, reviews, author updates, exclusive content, giveaways, and more. Footnotes * * * * The full Thucydides’s Trap Case File, part of the Belfer Center’s Applied History Project at Harvard, is included as Appendix 1. [back] * * * * The first economic revolution, under Deng Xiaoping, began China’s march to the market in 1978 with special economic zones and the first stage of privatization. The second acceleration of reform and opening to the outside world was overseen by Jiang Zemin, who fostered decades of hyperfast growth. [back] * * * * Xi Jinping later reduced the Standing Committee from nine to seven members. [back] * * * * It is worth noting that Chinese officials and public documents choose their economic yardsticks purposefully.


pages: 416 words: 129,308

The One Device: The Secret History of the iPhone by Brian Merchant

Airbnb, animal electricity, Apollo Guidance Computer, Apple II, Apple's 1984 Super Bowl advert, Black Lives Matter, Charles Babbage, citizen journalism, Citizen Lab, Claude Shannon: information theory, computer vision, Computing Machinery and Intelligence, conceptual framework, cotton gin, deep learning, DeepMind, Douglas Engelbart, Dynabook, Edward Snowden, Elon Musk, Ford paid five dollars a day, Frank Gehry, gigafactory, global supply chain, Google Earth, Google Hangouts, Higgs boson, Huaqiangbei: the electronics market of Shenzhen, China, information security, Internet of things, Jacquard loom, John Gruber, John Markoff, Jony Ive, Large Hadron Collider, Lyft, M-Pesa, MITM: man-in-the-middle, more computing power than Apollo, Mother of all demos, natural language processing, new economy, New Journalism, Norbert Wiener, offshore financial centre, oil shock, pattern recognition, peak oil, pirate software, profit motive, QWERTY keyboard, reality distortion field, ride hailing / ride sharing, rolodex, Shenzhen special economic zone , Silicon Valley, Silicon Valley startup, skeuomorphism, skunkworks, Skype, Snapchat, special economic zone, speech recognition, stealth mode startup, Stephen Hawking, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, TED Talk, Tim Cook: Apple, Tony Fadell, TSMC, Turing test, uber lyft, Upton Sinclair, Vannevar Bush, zero day

On top of physically building the device, China is now one of the world’s top consumer markets too. Shanghai is fascinating—a blend of enthusiastic entrepreneurship and manufacturing muscle dominated its smartphonic tech sector. But it’s got nothing on Shenzhen. Shenzhen was the first SEZ, or special economic zone, that China opened to foreign companies, beginning in 1980. At the time, it was a fishing village that was home to some twenty-five thousand people. In one of the most remarkable urban transformations in history, today, Shenzhen is China’s third-largest city, home to towering skyscrapers, millions of residents, and, of course, sprawling factories.


pages: 538 words: 138,544

The Story of Stuff: The Impact of Overconsumption on the Planet, Our Communities, and Our Health-And How We Can Make It Better by Annie Leonard

air freight, banking crisis, big-box store, blood diamond, Bretton Woods, business logic, California gold rush, carbon footprint, carbon tax, clean water, Community Supported Agriculture, cotton gin, dematerialisation, employer provided health coverage, energy security, European colonialism, export processing zone, Firefox, Food sovereignty, Ford paid five dollars a day, full employment, global supply chain, Global Witness, income inequality, independent contractor, Indoor air pollution, intermodal, Jeff Bezos, job satisfaction, Kickstarter, liberation theology, McMansion, megaproject, Nelson Mandela, new economy, oil shale / tar sands, peak oil, planned obsolescence, Ralph Nader, renewable energy credits, Silicon Valley, special economic zone, supply-chain management, systems thinking, TED Talk, the built environment, trade liberalization, trickle-down economics, union organizing, Wall-E, Whole Earth Review, Zipcar

This is the stage we’ve heard the most about, on account of all the bad press that sweatshops have received. Sadly, despite the attention, the conditions for most garment workers are still horrendous. Many big brand clothing companies tend to seek out factories that pay the absolute lowest wages. Today this means places like Bangladesh and the “special economic zones” or “export processing zones” of China, where workers—squeezed into underlit, underventilated, deafening factories to perform mind-numbing, repetitive drudgery, sometimes for eleven hours a day—receive wages as low as ten to thirteen cents per hour.27 Free speech and the right to form a trade union are routinely repressed as well.


pages: 446 words: 138,827

What Should I Do With My Life? by Po Bronson

back-to-the-land, Berlin Wall, California energy crisis, clean water, cotton gin, deal flow, double entry bookkeeping, Exxon Valdez, financial independence, high net worth, imposter syndrome, job satisfaction, Menlo Park, microcredit, new economy, proprietary trading, rolling blackouts, Shoshana Zuboff, Silicon Valley, South of Market, San Francisco, special economic zone, Stanford marshmallow experiment, telemarketer, traffic fines, work culture , young professional

Here’s how he’d turn a nickel into a dollar: he worked with an immigration attorney named Eugene Wong. Eugene would be contacted by businesspeople in Indonesia who wanted to come to America. Eugene would secure them an investor visa, an EB-5. This normally requires an agreement to invest a million dollars, but three thousand EB-5s are set aside each year for investing in special economic zones. These can be had for a half million dollars. Eugene sends the money to Deni, who uses it as seed capital, and pairs it up with another $9.5 million in bank loans, which he’s free to invest in something safe and predictable, like a power plant. Thus, nickels into dollars. Is it a trick? It seems so.


Adam Smith: Father of Economics by Jesse Norman

active measures, Alan Greenspan, Andrei Shleifer, balance sheet recession, bank run, banking crisis, Basel III, Bear Stearns, behavioural economics, Berlin Wall, Black Swan, Branko Milanovic, Bretton Woods, British Empire, Broken windows theory, business cycle, business process, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, centre right, cognitive dissonance, collateralized debt obligation, colonial exploitation, Corn Laws, Cornelius Vanderbilt, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, David Brooks, David Ricardo: comparative advantage, deindustrialization, electricity market, Eugene Fama: efficient market hypothesis, experimental economics, Fall of the Berlin Wall, Fellow of the Royal Society, financial engineering, financial intermediation, frictionless, frictionless market, future of work, George Akerlof, Glass-Steagall Act, Hyman Minsky, income inequality, incomplete markets, information asymmetry, intangible asset, invention of the telescope, invisible hand, Isaac Newton, Jean Tirole, John Nash: game theory, joint-stock company, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, lateral thinking, loss aversion, low interest rates, market bubble, market fundamentalism, Martin Wolf, means of production, mirror neurons, money market fund, Mont Pelerin Society, moral hazard, moral panic, Naomi Klein, negative equity, Network effects, new economy, non-tariff barriers, Northern Rock, Pareto efficiency, Paul Samuelson, Peter Thiel, Philip Mirowski, price mechanism, principal–agent problem, profit maximization, public intellectual, purchasing power parity, random walk, rent-seeking, Richard Thaler, Robert Shiller, Robert Solow, Ronald Coase, scientific worldview, seigniorage, Socratic dialogue, South Sea Bubble, special economic zone, speech recognition, Steven Pinker, The Chicago School, The Myth of the Rational Market, The Nature of the Firm, The Rise and Fall of American Growth, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, Thomas Malthus, Thorstein Veblen, time value of money, transaction costs, transfer pricing, Veblen good, Vilfredo Pareto, Washington Consensus, working poor, zero-sum game

As a result of the war of 1950–1953, Korea was split into two countries, north and south. Thirty years after the Korean War, GDP per capita in capitalist South Korea was five times that of communist North Korea; in 2009 it was sixteen times greater. China’s economic growth started to accelerate only in the 1980s, when it opened up special economic zones and started to implement market-oriented reforms; India’s growth did the same after its reforms in 1991. Technology-enabled trade, far more than aid, is pulling countries across Africa out of poverty after decades of stagnation. The second point is no less fundamental: overall, global inequality is falling, not rising.


pages: 444 words: 127,259

Super Pumped: The Battle for Uber by Mike Isaac

"Susan Fowler" uber, "World Economic Forum" Davos, activist fund / activist shareholder / activist investor, Airbnb, Albert Einstein, always be closing, Amazon Web Services, Andy Kessler, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Bay Area Rapid Transit, Benchmark Capital, Big Tech, Burning Man, call centre, Cambridge Analytica, Chris Urmson, Chuck Templeton: OpenTable:, citizen journalism, Clayton Christensen, cloud computing, corporate governance, creative destruction, data science, Didi Chuxing, don't be evil, Donald Trump, driverless car, Elon Musk, end-to-end encryption, fake news, family office, gig economy, Google Glasses, Google X / Alphabet X, Greyball, Hacker News, high net worth, hockey-stick growth, hustle culture, impact investing, information security, Jeff Bezos, John Markoff, John Zimmer (Lyft cofounder), Kevin Roose, Kickstarter, Larry Ellison, lolcat, Lyft, Marc Andreessen, Marc Benioff, Mark Zuckerberg, Masayoshi Son, mass immigration, Menlo Park, Mitch Kapor, money market fund, moral hazard, move fast and break things, Network effects, new economy, off grid, peer-to-peer, pets.com, Richard Florida, ride hailing / ride sharing, Salesforce, Sand Hill Road, self-driving car, selling pickaxes during a gold rush, shareholder value, Shenzhen special economic zone , Sheryl Sandberg, side hustle, side project, Silicon Valley, Silicon Valley startup, skunkworks, Snapchat, SoftBank, software as a service, software is eating the world, South China Sea, South of Market, San Francisco, sovereign wealth fund, special economic zone, Steve Bannon, Steve Jobs, stock buybacks, super pumped, TaskRabbit, tech bro, tech worker, the payments system, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, ubercab, union organizing, upwardly mobile, Vision Fund, WeWork, Y Combinator

The Communist Party took pride in promoting and ensuring the success of Chinese companies on Chinese soil. Under Xi Jinping, the government had invested hundreds of millions in state-backed venture funds, which seeded a wave of startups, giving China the fastest growing economic sector in history. It had created so-called “special economic zones” in cities like Shenzhen, fostering Chinese innovation and startup incubation. The West still maintained global tech dominance, but of the top twenty technology companies in the world measured by market cap, nine of them were Chinese. Government control of the internet meant the Party could play kingmaker, choosing to regulate selectively based on what it felt was beneficial to the state.


The New Enclosure: The Appropriation of Public Land in Neoliberal Britain by Brett Christophers

Alan Greenspan, book value, Boris Johnson, Capital in the Twenty-First Century by Thomas Piketty, Corn Laws, credit crunch, cross-subsidies, Diane Coyle, estate planning, Garrett Hardin, gentrification, ghettoisation, Hernando de Soto, housing crisis, income inequality, invisible hand, Jeremy Corbyn, land bank, land reform, land tenure, land value tax, late capitalism, market clearing, Martin Wolf, New Journalism, New Urbanism, off grid, offshore financial centre, performance metric, Philip Mirowski, price mechanism, price stability, profit motive, radical decentralization, Right to Buy, Skype, sovereign wealth fund, special economic zone, the built environment, The Wealth of Nations by Adam Smith, Thorstein Veblen, Tragedy of the Commons, Tyler Cowen, urban sprawl, wealth creators

One of the most notable features of land investment in early-twenty-first-century capitalism is individuals and institutions widely investing in property not for proprietary occupation or productive use – and not for letting to tenants either – but rather in the hope and expectation of value appreciation and the possibility of resale at a higher price. We see this, for example, in the form of empty, high-end housing in London (see Chapter 4). We see it also in the speculative real-estate investment occurring around special economic zones in rural India.1 If, with speculation in future ground rents, we get, pace Harvey, ‘good’ (coordination) and ‘bad’ (disorder), with speculation in future capital gains we arguably get only the latter. It does not contribute in any way to allocative efficiency. We know only too well today, just as Marx himself always knew, that financial markets are fertile fields of speculative excess; in volume 3 of Capital, Marx envisioned such markets as a kind of warped doppelgänger of ‘real’ capitalism, representing its ‘height of distortion’ and the locus of its most ‘insane forms’.


pages: 565 words: 134,138

The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources by Javier Blas, Jack Farchy

accounting loophole / creative accounting, airport security, algorithmic trading, Asian financial crisis, Ayatollah Khomeini, banking crisis, book value, BRICs, business climate, business cycle, collapse of Lehman Brothers, commodity super cycle, coronavirus, corporate raider, COVID-19, Deng Xiaoping, Donald Trump, electricity market, energy security, European colonialism, failed state, financial innovation, Ford Model T, foreign exchange controls, Great Grain Robbery, invisible hand, John Deuss, junk bonds, Kickstarter, light touch regulation, lockdown, low interest rates, margin call, new economy, North Sea oil, offshore financial centre, oil shale / tar sands, oil shock, oil-for-food scandal, Oscar Wyatt, price anchoring, proprietary trading, purchasing power parity, Ronald Reagan, Scramble for Africa, sovereign wealth fund, special economic zone, stakhanovite, Suez crisis 1956, trade route, vertical integration, WikiLeaks, Yom Kippur War, éminence grise

When the weak Yeltsin government launched an ill-fated loans-for-shares scheme, Khodorkovsky had snapped up a controlling stake in oil company Yukos for just $309 million. 37 A decade later, he had turned it into the darling of the Russian oil industry with a market value of more than $20 billion. But Yukos was also a poster child for everything that infuriated Putin and his allies about the oligarchs of the 1990s. It was one of the most aggressive users of offshore companies and low-tax special economic zones to reduce its tax bill. It was among the most brazen corporate lobbyists in Russia. And Khodorkovsky became increasingly bold – even provocative. He challenged Putin over corruption in a televised meeting at the Kremlin. He said that he would retire from Yukos in 2007 – the year before Putin would be required by the constitution to step down – and allowed speculation to build that he might be interested in a move into politics. 38 And he started talks with Chevron and ExxonMobil to sell a stake in Yukos.


pages: 592 words: 133,460

Worn: A People's History of Clothing by Sofi Thanhauser

Airbnb, back-to-the-land, big-box store, business process, business process outsourcing, call centre, Caribbean Basin Initiative, colonial rule, Community Supported Agriculture, corporate social responsibility, cotton gin, COVID-19, deindustrialization, Deng Xiaoping, Dmitri Mendeleev, Donald Trump, export processing zone, facts on the ground, flying shuttle, global supply chain, Great Leap Forward, haute couture, Honoré de Balzac, indoor plumbing, invention of the sewing machine, invisible hand, microplastics / micro fibres, moral panic, North Ronaldsay sheep, off-the-grid, operation paperclip, out of africa, QR code, Rana Plaza, Ronald Reagan, sheep dike, smart cities, special economic zone, strikebreaker, The Wealth of Nations by Adam Smith, trade liberalization, trade route, transatlantic slave trade, Triangle Shirtwaist Factory, union organizing, upwardly mobile, Whole Earth Catalog, women in the workforce

“With the inflation during perestroika, my salary was no longer enough to survive. That’s when I decided to start trading.” He had used family networks, reestablished between Uyghurs on either side of the border who had been cut off from one another for two decades, to act as a middleman in a cross-border trade, selling goods produced in new southern Chinese Special Economic Zones. “The trade economy only really started in full force after the fall of the Soviet Union,” he explains. When the border with China opened around the same time, many Uyghurs started buying and selling Chinese-made goods. “Now, why?” he says, looking with open contempt on his stock of cheap shoes.


pages: 1,123 words: 328,357

Post Wall: Rebuilding the World After 1989 by Kristina Spohr

"World Economic Forum" Davos, Alan Greenspan, American Legislative Exchange Council, Andrei Shleifer, anti-communist, banking crisis, Berlin Wall, Bonfire of the Vanities, bread and circuses, Bretton Woods, central bank independence, colonial exploitation, Deng Xiaoping, Dissolution of the Soviet Union, Donald Trump, Doomsday Clock, facts on the ground, failed state, Fall of the Berlin Wall, foreign exchange controls, Francis Fukuyama: the end of history, G4S, Japanese asset price bubble, Kickstarter, mass immigration, means of production, Mikhail Gorbachev, military-industrial complex, open economy, operational security, Prenzlauer Berg, price stability, public intellectual, rising living standards, Ronald Reagan, Ronald Reagan: Tear down this wall, software patent, South China Sea, special economic zone, Thomas L Friedman, Transnistria, uranium enrichment, zero-coupon bond

As one Western diplomat commented on 1 April: ‘No one has ever tried to transform a socialist command economy of this size into a free-market one, and no one knows how it’s supposed to happen, even if they pretend.’ He was right. The big-bang approach to the post-Soviet economic transition was probably the greatest economic reform ever undertaken. China had proceeded by small steps over a long period, introducing special economic zones – local bubbles of capitalist activity – all of which led towards a system the PRC eventually defined as a ‘socialist market economy’. And unlike in the Soviet Union the political lid had been kept tightly shut: there had been no political opening at the same time towards democratisation – no trajectory of ‘modernisation-as-Westernisation’.

These were the four Kuril Islands of Habomai, Shikotan, Kunashiri and Etorofu located off the coast of Hokkaido, which had belonged to Japan since 1855 but were seized and incorporated into the Soviet Union in September 1945, with all Japanese residents deported by 1949.[54] In 1986 Gorbachev had announced a new approach to Soviet interests in Asia – withdrawing troops from Afghanistan, encouraging Vietnamese restraint in Cambodia, easing tensions with China and proposing special economic zones in the Soviet Far East including making Vladivostok an open port. He had subsequently visited Deng in Beijing in May 1989 and began normalising its relations with US client South Korea through a meeting with Roh in San Francisco in June 1990 – the first time that the heads of state of the Soviet Union and South Korea had held formal discussions.


pages: 535 words: 158,863

Superclass: The Global Power Elite and the World They Are Making by David Rothkopf

"World Economic Forum" Davos, airport security, Alan Greenspan, anti-communist, asset allocation, Ayatollah Khomeini, bank run, barriers to entry, Bear Stearns, Berlin Wall, Big Tech, Bob Geldof, Branko Milanovic, Bretton Woods, BRICs, business cycle, carried interest, clean water, compensation consultant, corporate governance, creative destruction, crony capitalism, David Brooks, Doha Development Round, Donald Trump, fake news, financial innovation, fixed income, Francis Fukuyama: the end of history, Gini coefficient, global village, high net worth, income inequality, industrial cluster, informal economy, Internet Archive, Jeff Bezos, jimmy wales, John Elkington, joint-stock company, knowledge economy, Larry Ellison, liberal capitalism, Live Aid, Long Term Capital Management, Mahatma Gandhi, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, Martin Wolf, mass immigration, means of production, Mexican peso crisis / tequila crisis, Michael Milken, Mikhail Gorbachev, military-industrial complex, Nelson Mandela, old-boy network, open borders, plutocrats, Ponzi scheme, price mechanism, proprietary trading, Savings and loan crisis, shareholder value, Skype, special economic zone, Steve Jobs, Thorstein Veblen, too big to fail, trade liberalization, trickle-down economics, upwardly mobile, vertical integration, Vilfredo Pareto, Washington Consensus, William Langewiesche

Export-Import Bank or the Overseas Private Investment Corporation won’t help finance a project, companies that once waved the American flag vigorously in their efforts to win Washington’s support lower that banner and instead raise flags in other countries where their subsidiaries make them eligible for those countries’ support. I saw this time and time again when in government. And of course, with these moves go jobs and tax revenues and investment dollars and the other benefits associated with a company’s location. Countries around the world offer special economic zones, tax breaks, and other inducements, seeking to lure international direct investors who now shop for investment locations in the way people shop for cars, haggling over the deal and playing one national “dealer” against another. It has been said that an institution is just the lengthened shadow of a single individual.


pages: 554 words: 149,489

The Content Trap: A Strategist's Guide to Digital Change by Bharat Anand

Airbnb, Alan Greenspan, An Inconvenient Truth, AOL-Time Warner, Benjamin Mako Hill, Bernie Sanders, Clayton Christensen, cloud computing, commoditize, correlation does not imply causation, creative destruction, crowdsourcing, death of newspapers, disruptive innovation, Donald Trump, driverless car, electricity market, Eyjafjallajökull, fulfillment center, gamification, Google Glasses, Google X / Alphabet X, information asymmetry, Internet of things, inventory management, Jean Tirole, Jeff Bezos, John Markoff, Just-in-time delivery, Kaizen: continuous improvement, Khan Academy, Kickstarter, late fees, managed futures, Mark Zuckerberg, market design, Minecraft, multi-sided market, Network effects, post-work, price discrimination, publish or perish, QR code, recommendation engine, ride hailing / ride sharing, Salesforce, selection bias, self-driving car, shareholder value, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, social graph, social web, special economic zone, Stephen Hawking, Steve Jobs, Steven Levy, Stuart Kauffman, the long tail, Thomas L Friedman, transaction costs, two-sided market, ubercab, vertical integration, WikiLeaks, winner-take-all economy, zero-sum game

CHINESE VIRTUAL GIANTS Six thousand miles southeast of Oslo lies Shenzhen, one of China’s fastest-growing cities. Three decades ago it was a farming and fishing village with a few thousand people. Today it is an eleven-million-person metropolis. Most of its growth was triggered by the creation of a Special Economic Zone in 1979. Shenzhen is now a manufacturing hub, the financial center of southern China, and the home of companies with globally recognized brands, like Huawei and ZTE. Despite this engineered growth, the most famous company headquartered there arose from homegrown entrepreneurs Pony Ma and Zhang Zidong.


pages: 790 words: 150,875

Civilization: The West and the Rest by Niall Ferguson

Admiral Zheng, agricultural Revolution, Albert Einstein, Andrei Shleifer, Atahualpa, Ayatollah Khomeini, Berlin Wall, BRICs, British Empire, business cycle, clean water, collective bargaining, colonial rule, conceptual framework, Copley Medal, corporate governance, creative destruction, credit crunch, David Ricardo: comparative advantage, Dean Kamen, delayed gratification, Deng Xiaoping, discovery of the americas, Dissolution of the Soviet Union, Easter island, European colonialism, Fall of the Berlin Wall, financial engineering, Francisco Pizarro, full employment, Great Leap Forward, Gregor Mendel, guns versus butter model, Hans Lippershey, haute couture, Hernando de Soto, income inequality, invention of movable type, invisible hand, Isaac Newton, James Hargreaves, James Watt: steam engine, John Harrison: Longitude, joint-stock company, Joseph Schumpeter, Kickstarter, Kitchen Debate, land reform, land tenure, liberal capitalism, Louis Pasteur, Mahatma Gandhi, market bubble, Martin Wolf, mass immigration, means of production, megacity, Mikhail Gorbachev, new economy, Pearl River Delta, Pierre-Simon Laplace, power law, probability theory / Blaise Pascal / Pierre de Fermat, profit maximization, purchasing power parity, quantitative easing, rent-seeking, reserve currency, retail therapy, road to serfdom, Ronald Reagan, savings glut, Scramble for Africa, Silicon Valley, South China Sea, sovereign wealth fund, special economic zone, spice trade, spinning jenny, Steve Jobs, Steven Pinker, subprime mortgage crisis, Suez canal 1869, Suez crisis 1956, The Great Moderation, the market place, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Thomas Malthus, Thorstein Veblen, total factor productivity, trade route, transaction costs, transatlantic slave trade, undersea cable, upwardly mobile, uranium enrichment, wage slave, Washington Consensus, women in the workforce, work culture , World Values Survey

Yet today when you walk down a typical Chinese street what you see is a kaleidoscope of Western styles of clothing. Advertising hoardings in all the major cities extol the virtues of Western brands from Armani to Ermenegildo Zegna. Like every other industrial revolution, China’s began with textile production. Until recently, most of the garments manufactured in the coastal Special Economic Zones were intended for export to the West. Now, with demand down in depressed Western economies, the principal challenge facing policy-makers in Beijing is how to make the Chinese worker save less and consume more; in other words, buy more clothes. It seems as if the triumph of the West’s consumer society is close to being complete.


Globalists: The End of Empire and the Birth of Neoliberalism by Quinn Slobodian

"World Economic Forum" Davos, Alan Greenspan, Asian financial crisis, Berlin Wall, bilateral investment treaty, borderless world, Bretton Woods, British Empire, business cycle, capital controls, central bank independence, classic study, collective bargaining, David Ricardo: comparative advantage, Deng Xiaoping, desegregation, Dissolution of the Soviet Union, Doha Development Round, eurozone crisis, Fall of the Berlin Wall, floating exchange rates, full employment, Garrett Hardin, Greenspan put, Gunnar Myrdal, Hernando de Soto, invisible hand, liberal capitalism, liberal world order, Mahbub ul Haq, market fundamentalism, Martin Wolf, Mercator projection, Mont Pelerin Society, Norbert Wiener, offshore financial centre, oil shock, open economy, pattern recognition, Paul Samuelson, Pearl River Delta, Philip Mirowski, power law, price mechanism, public intellectual, quantitative easing, random walk, rent control, rent-seeking, road to serfdom, Ronald Reagan, special economic zone, statistical model, Suez crisis 1956, systems thinking, tacit knowledge, The Chicago School, the market place, The Wealth of Nations by Adam Smith, theory of mind, Thomas L Friedman, trade liberalization, urban renewal, Washington Consensus, Wolfgang Streeck, zero-sum game

Scharpf, “Economic Integration, Democracy and the Welfare State,” Journal of Eu­ro­pean Public Policy 4, no. 1 (March 1997): 18–36; David Schneiderman, Constitutionalizing Economic Globalization: Investment Rules and Democracy’s Promise (New York: Cambridge University Press, 2008); M. Sornarajah, The International Law on Foreign Investment, 3rd ed. (New York: Cambridge University Press, 2010); Streeck, Buying Time. See Keller Easterling, Extrastatecraft: The Power of Infrastructure Space (New York: Verso, 2014); Patrick Neveling, “Export Pro­cessing Zones, Special Economic Zones and the Long March of Cap­i­tal­ist Development Policies during the Cold War,” in Decolonization and the Cold War: Negotiating In­de­pen­dence, ed. Leslie James and Elisabeth Leake, 63–84 (London: Bloomsbury, 2015); Ronen Palan, The Offshore World: Sovereign Markets, Virtual Places, and Nomad Millionaires (Ithaca, NY: Cornell University Press, 2003).


pages: 665 words: 146,542

Money: 5,000 Years of Debt and Power by Michel Aglietta

accelerated depreciation, Alan Greenspan, bank run, banking crisis, Basel III, Berlin Wall, bitcoin, blockchain, Bretton Woods, British Empire, business cycle, capital asset pricing model, capital controls, cashless society, central bank independence, circular economy, collapse of Lehman Brothers, collective bargaining, corporate governance, David Graeber, debt deflation, dematerialisation, Deng Xiaoping, double entry bookkeeping, energy transition, eurozone crisis, Fall of the Berlin Wall, falling living standards, financial deregulation, financial innovation, Financial Instability Hypothesis, financial intermediation, floating exchange rates, forward guidance, Francis Fukuyama: the end of history, full employment, German hyperinflation, income inequality, inflation targeting, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), invention of writing, invisible hand, joint-stock company, Kenneth Arrow, Kickstarter, land bank, liquidity trap, low interest rates, margin call, means of production, Money creation, money market fund, moral hazard, Nash equilibrium, Network effects, Northern Rock, oil shock, planetary scale, plutocrats, precautionary principle, price stability, purchasing power parity, quantitative easing, race to the bottom, reserve currency, secular stagnation, seigniorage, shareholder value, special drawing rights, special economic zone, stochastic process, Suez crisis 1956, the payments system, the scientific method, tontine, too big to fail, trade route, transaction costs, transcontinental railway, Washington Consensus

See Gérard Kébadjian, Théories de l’économie politique internationale, Paris: Seuil, 1999. 10 These so-called ‘non-conventional’ measures are described in chapters 1 and 2 of Michel Aglietta, Europe: sortir de la crise et inventer l’avenir, Paris: Michalon, 2014. 11 TARGET’s crucial role in the eurozone financial crisis is described in detail by Philippine Cour-Thimann, ‘Target balances and the crisis in the euro area’, CESifo Forum, vol. 14, 2013. 12 Benoît Coeuré, ‘Il faut un ministère des Finances de la zone euro’, Le Monde, 28 July 2015. 13 ‘Process trade’ refers to a specific type of insertion into the division of labour. Profiting from its young, large and disciplined working class, China created special economic zones to which it attracted large quantities of foreign direct investment. It imported all the supplies necessary for the production of industrial consumption goods, especially electronics, textiles and chemical products. Chinese labour did the assembly work, and then the commodities were sold on markets in Western countries. 14 On the slowdown in world trade, see Sébastien Jean, Françoise Lemoine and CEPII, L’Économie mondiale 2016, Paris: La Découverte, 2015, pp. 87–102. 15 Patrick Foulis, ‘The sticky superpower’, Special report on the world economy, Economist, 3 October 2015. 16 Derivatives in the form of repos and loans on securities, tripartite swaps, the securitisation of derivatives products, and leveraged ETFs (Exchange Traded Funds). 17 Benjamin J.


pages: 469 words: 149,526

The War Came to Us: Life and Death in Ukraine by Christopher Miller

2021 United States Capitol attack, Airbnb, An Inconvenient Truth, Bellingcat, Boris Johnson, coronavirus, COVID-19, disinformation, Donald Trump, fake it until you make it, false flag, friendly fire, game design, global pandemic, military-industrial complex, Ponzi scheme, private military company, rolling blackouts, Saturday Night Live, special economic zone, stakhanovite, wikimedia commons

The Ukrainian hryvnia was replaced with the Russian ruble. Russian passports were issued to residents, as were stickers to transform Ukrainian license plates into Russian ones. Ukrainian language and history were removed from the school curriculum. The Kremlin vowed to pour billions of dollars into Crimea and create a special economic zone to stimulate investment. It said tourism would see a huge boost and the peninsula would become something of a “Russian Las Vegas.” Putin set about erecting a massive bridge over the Kerch Strait connecting Russia to the peninsula, an illegal project that would spark more Western sanctions.


pages: 540 words: 168,921

The Relentless Revolution: A History of Capitalism by Joyce Appleby

1919 Motor Transport Corps convoy, agricultural Revolution, Alan Greenspan, An Inconvenient Truth, anti-communist, Asian financial crisis, asset-backed security, Bartolomé de las Casas, Bear Stearns, Bernie Madoff, Bretton Woods, BRICs, British Empire, call centre, Charles Lindbergh, classic study, collateralized debt obligation, collective bargaining, Columbian Exchange, commoditize, Cornelius Vanderbilt, corporate governance, cotton gin, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, David Ricardo: comparative advantage, deindustrialization, Deng Xiaoping, deskilling, Doha Development Round, double entry bookkeeping, epigenetics, equal pay for equal work, European colonialism, facts on the ground, failed state, Firefox, fixed income, Ford Model T, Ford paid five dollars a day, Francisco Pizarro, Frederick Winslow Taylor, full employment, General Magic , Glass-Steagall Act, Gordon Gekko, Great Leap Forward, Henry Ford's grandson gave labor union leader Walter Reuther a tour of the company’s new, automated factory…, Hernando de Soto, hiring and firing, Ida Tarbell, illegal immigration, informal economy, interchangeable parts, interest rate swap, invention of movable type, invention of the printing press, invention of the steam engine, invisible hand, Isaac Newton, James Hargreaves, James Watt: steam engine, Jeff Bezos, John Bogle, joint-stock company, Joseph Schumpeter, junk bonds, knowledge economy, land bank, land reform, Livingstone, I presume, Long Term Capital Management, low interest rates, Mahatma Gandhi, Martin Wolf, military-industrial complex, moral hazard, Nixon triggered the end of the Bretton Woods system, PalmPilot, Parag Khanna, pneumatic tube, Ponzi scheme, profit maximization, profit motive, race to the bottom, Ralph Nader, refrigerator car, Ronald Reagan, scientific management, Scramble for Africa, Silicon Valley, Silicon Valley startup, South China Sea, South Sea Bubble, special economic zone, spice trade, spinning jenny, strikebreaker, Suez canal 1869, the built environment, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thorstein Veblen, total factor productivity, trade route, transatlantic slave trade, transcontinental railway, two and twenty, union organizing, Unsafe at Any Speed, Upton Sinclair, urban renewal, vertical integration, War on Poverty, working poor, Works Progress Administration, Yogi Berra, Yom Kippur War

These firms were at a distinct disadvantage, for they were saddled with redundant workers and retirement pensions.9 Nor did they serve the country’s much greater need for light industry and service enterprises. Automaking remained a state enterprise or became a joint venture with foreign firms, an arrangement that became popular for hotels as well. China’s Economic Zones Deng established four special economic zones on the south coast that could trade freely and accept foreign investments. These proved so successful that fourteen other coastal cities soon got the same privileges. Values changed with practices. Before the creation of these zones, the party had considered the prosperous southern province of Guangzhou tainted by Western barbarian businessmen because of its proximity to booming Hong Kong.


pages: 769 words: 169,096

Order Without Design: How Markets Shape Cities by Alain Bertaud

autonomous vehicles, call centre, colonial rule, congestion charging, congestion pricing, creative destruction, cross-subsidies, Deng Xiaoping, discounted cash flows, Donald Trump, Edward Glaeser, en.wikipedia.org, extreme commuting, garden city movement, gentrification, Google Earth, Great Leap Forward, Jane Jacobs, job satisfaction, Joseph Schumpeter, land tenure, manufacturing employment, market design, market fragmentation, megacity, microapartment, new economy, New Urbanism, openstreetmap, Pearl River Delta, price mechanism, rent control, Right to Buy, Ronald Coase, self-driving car, Shenzhen special economic zone , Silicon Valley, special economic zone, the built environment, trade route, transaction costs, transit-oriented development, trickle-down economics, urban planning, urban sprawl, zero-sum game

Rapid Adaptation to Economic Changes in Shenzhen In no other city in the world has economic change has been more rapid than in Shenzhen—a city with special economic status, created by Deng Xiaoping, China’s leader from 1978 to 1989. The territory surrounding the fishing town of Shenzhen was declared a special economic zone in May 1980. This special status allowed markets to drive prices, rents, and salaries within the perimeter of the zone. This was truly revolutionary for China. Outside Shenzhen, at the time, salaries and prices were still largely fixed by governments, and housing was provided for a token rent by employers or municipalities.


pages: 1,239 words: 163,625

The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated by Gautam Baid

Abraham Maslow, activist fund / activist shareholder / activist investor, Airbnb, Alan Greenspan, Albert Einstein, Alvin Toffler, Andrei Shleifer, asset allocation, Atul Gawande, availability heuristic, backtesting, barriers to entry, beat the dealer, Benoit Mandelbrot, Bernie Madoff, bitcoin, Black Swan, book value, business process, buy and hold, Cal Newport, Cass Sunstein, Checklist Manifesto, Clayton Christensen, cognitive dissonance, collapse of Lehman Brothers, commoditize, corporate governance, correlation does not imply causation, creative destruction, cryptocurrency, Daniel Kahneman / Amos Tversky, deep learning, delayed gratification, deliberate practice, discounted cash flows, disintermediation, disruptive innovation, Dissolution of the Soviet Union, diversification, diversified portfolio, dividend-yielding stocks, do what you love, Dunning–Kruger effect, Edward Thorp, Elon Musk, equity risk premium, Everything should be made as simple as possible, fear index, financial independence, financial innovation, fixed income, follow your passion, framing effect, George Santayana, Hans Rosling, hedonic treadmill, Henry Singleton, hindsight bias, Hyman Minsky, index fund, intangible asset, invention of the wheel, invisible hand, Isaac Newton, it is difficult to get a man to understand something, when his salary depends on his not understanding it, Jeff Bezos, John Bogle, Joseph Schumpeter, junk bonds, Kaizen: continuous improvement, Kickstarter, knowledge economy, Lao Tzu, Long Term Capital Management, loss aversion, Louis Pasteur, low interest rates, Mahatma Gandhi, mandelbrot fractal, margin call, Mark Zuckerberg, Market Wizards by Jack D. Schwager, Masayoshi Son, mental accounting, Milgram experiment, moral hazard, Nate Silver, Network effects, Nicholas Carr, offshore financial centre, oil shock, passive income, passive investing, pattern recognition, Peter Thiel, Ponzi scheme, power law, price anchoring, quantitative trading / quantitative finance, Ralph Waldo Emerson, Ray Kurzweil, Reminiscences of a Stock Operator, reserve currency, Richard Feynman, Richard Thaler, risk free rate, risk-adjusted returns, Robert Shiller, Savings and loan crisis, search costs, shareholder value, six sigma, software as a service, software is eating the world, South Sea Bubble, special economic zone, Stanford marshmallow experiment, Steve Jobs, Steven Levy, Steven Pinker, stocks for the long run, subscription business, sunk-cost fallacy, systems thinking, tail risk, Teledyne, the market place, The Signal and the Noise by Nate Silver, The Wisdom of Crowds, time value of money, transaction costs, tulip mania, Upton Sinclair, Walter Mischel, wealth creators, Yogi Berra, zero-sum game

A sharp rise in “other expenses” in a depressed market or slowing economy could point to money being siphoned off. Taxes. The tax payout ratio should be near the standard corporate tax rate. If it is low, then check whether the company has accumulated losses from the past or if it is enjoying tax incentives from operating out of a special economic zone or other tax-advantaged jurisdictions. Net profit margin. The higher this margin is, the better. Be wary of companies that show high sales growth with declining profit margins. Companies that chase growth at the cost of profitability usually do not create sustainable wealth for shareholders. 2.


Unfinished Empire: The Global Expansion of Britain by John Darwin

Alfred Russel Wallace, British Empire, classic study, colonial rule, Corn Laws, David Ricardo: comparative advantage, European colonialism, financial independence, friendly fire, full employment, imperial preference, Khartoum Gordon, Khyber Pass, Kowloon Walled City, land tenure, mass immigration, Nelson Mandela, open economy, plutocrats, principal–agent problem, quantitative easing, reserve currency, Right to Buy, Scientific racism, South China Sea, special economic zone, spice trade, Suez canal 1869, Suez crisis 1956, The Wealth of Nations by Adam Smith, too big to fail, trade route, transcontinental railway, union organizing

The British at first hoped to persuade the Beijing regime (newly emerged from Maoist seclusion) to renew their tenancy and preserve Hong Kong as a British Crown colony. This was delusion. But as negotiation ground on, they exploited Beijing’s reluctance to risk the critical role that Hong Kong already played as the great port of South China and (more to the point) as the entrepot of finance for East Asian trade and for Beijing’s ‘special economic zone’ on the mainland. In the final agreement reached in 1984, China’s right to recover Hong Kong, including the territories originally ceded to Britain, was acknowledged and the timetable for handover in 1997 laid down. In exchange, Beijing agreed that Hong Kong would enjoy administrative and financial autonomy and keep its own British-based legal system for at least fifty years.


pages: 605 words: 169,366

The World's Banker: A Story of Failed States, Financial Crises, and the Wealth and Poverty of Nations by Sebastian Mallaby

"World Economic Forum" Davos, Alan Greenspan, Alvin Toffler, Asian financial crisis, bank run, battle of ideas, Big bang: deregulation of the City of London, Bretton Woods, capital controls, clean water, Dr. Strangelove, Dutch auction, export processing zone, failed state, financial independence, Francis Fukuyama: the end of history, gentleman farmer, guns versus butter model, Hernando de Soto, Kenneth Rogoff, Kickstarter, land reform, land tenure, lateral thinking, low interest rates, market bubble, Martin Wolf, microcredit, oil shock, Oklahoma City bombing, old-boy network, Paul Samuelson, plutocrats, purchasing power parity, radical decentralization, rolodex, Ronald Reagan, Silicon Valley, special economic zone, structural adjustment programs, the new new thing, trade liberalization, traveling salesman, War on Poverty, Westphalian system, Yom Kippur War

Most of the East Asian Tigers created export-processing zones in which corruption and red tape were eliminated, security was reliable, and electricity and transport links were excellent. These enclaves attracted investment, and prosperity radiated gradually outward. China, for example, set up several special economic zones along its coastline, starting in 1980. Within a few years, one of the world’s greatest export booms created millions of new jobs, despite the fact that China’s national institutions were frequently rotten with corruption.8 Yet the enclave argument, for all its persuasiveness, raises its own set of questions.


Lonely Planet Sri Lanka by Lonely Planet

British Empire, car-free, carbon footprint, clean water, colonial rule, digital map, European colonialism, land tenure, Mahatma Gandhi, megaproject, off grid, off-the-grid, period drama, place-making, ride hailing / ride sharing, selective serotonin reuptake inhibitor (SSRI), self-driving car, special economic zone, spice trade, trade route, urban sprawl

Kalkudah & Passekudah %065 These spectacular back-to-back beaches, 34km north of Batticaloa, present as stark – and confusing – a juxtaposition as you could imagine. At the northern tip of the peninsula on a tightly enclosed bay, the breathtaking white sands of sickle-shaped Passekudah beach are being developed as a kind of mini-Cancun, a government-driven 'Special Economic Zone' with oodles of luxury hotels planned to ring the bay. With the resorts stretching into the distance, Passekudah's extremely shallow water heats up to bathtub temperatures on sunny days (you'll have to wade out some distance for a good swim). There's also lots of sharp coral mixed in with the sand, so take care if barefoot.


pages: 615 words: 187,426

Chinese Spies: From Chairman Mao to Xi Jinping by Roger Faligot

active measures, Albert Einstein, anti-communist, autonomous vehicles, Ayatollah Khomeini, Berlin Wall, British Empire, business intelligence, Deng Xiaoping, disinformation, Donald Trump, Edward Snowden, fake news, Fall of the Berlin Wall, Great Leap Forward, housing crisis, illegal immigration, index card, information security, megacity, Mikhail Gorbachev, military-industrial complex, new economy, offshore financial centre, Pearl River Delta, Port of Oakland, RAND corporation, Ronald Reagan, Shenzhen special economic zone , Silicon Valley, South China Sea, special economic zone, stem cell, union organizing, young professional, éminence grise

The notion of the “sea lamprey strategy” (ba mu man ji) comes from the fact that this slippery, greenish fish blends in with the seascape, clinging to the rocks, and then, having waited patiently to select its prey, closes in and latches on, siphoning off its blood through its multiple orifices. It is the perfect metaphor for Chinese espionage techniques. Huawei’s business intelligence The telecommunications empire Huawei Technologies was founded in 1987 by a former PLA officer, Ren Zhengfei, in the Shenzhen Special Economic Zone. It is an excellent example of a company that has mastered the “sea lamprey strategy”, and the perfect symbol of China profiting from and buying up the rest of the world. One could write an entire book about the company, which has in fact published several books itself, celebrating its multiple successes; these can be found in any Chinese bookstore.


pages: 583 words: 182,990

The Ministry for the Future: A Novel by Kim Stanley Robinson

"World Economic Forum" Davos, agricultural Revolution, airport security, Anthropocene, availability heuristic, basic income, bitcoin, blockchain, Bretton Woods, cakes and ale, carbon tax, centre right, clean tech, clean water, cryptocurrency, dark matter, decarbonisation, degrowth, distributed ledger, drone strike, European colonialism, failed state, fiat currency, Food sovereignty, full employment, Gini coefficient, global village, green new deal, happiness index / gross national happiness, High speed trading, high-speed rail, income per capita, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, Jevons paradox, Kim Stanley Robinson, land reform, liberation theology, liquidity trap, Mahbub ul Haq, megacity, megastructure, Modern Monetary Theory, mutually assured destruction, nuclear winter, ocean acidification, off grid, off-the-grid, offshore financial centre, place-making, plutocrats, Ponzi scheme, post-oil, precariat, price stability, public intellectual, quantitative easing, rewilding, RFID, Robert Solow, seigniorage, Shenzhen special economic zone , Silicon Valley, special economic zone, structural adjustment programs, synthetic biology, time value of money, Tragedy of the Commons, universal basic income, wage slave, Washington Consensus

It’s Guangdong, a very big and prosperous province in south China, centered on the city Guangzhou, used to be spelled Canton in English, and there are a hundred million of us who speak Cantonese, and it’s an older dialect than Mandarin. And most of the Chinese who live elsewhere in the world speak it, and we in Hong Kong speak it. Also in Shenzhen, the Special Economic Zone where Beijing tried to piggyback on Hong Kong’s success in the world. So Beijing made a big mistake when they tried to suppress Cantonese as a language, which they did for many years, because that meant all of Guangdong didn’t believe in Beijing either— they were more with Hong Kong than with Beijing, even if they never did much to show it.


pages: 823 words: 206,070

The Making of Global Capitalism by Leo Panitch, Sam Gindin

accounting loophole / creative accounting, active measures, airline deregulation, Alan Greenspan, anti-communist, Asian financial crisis, asset-backed security, bank run, banking crisis, barriers to entry, Basel III, Bear Stearns, Big bang: deregulation of the City of London, bilateral investment treaty, book value, Branko Milanovic, Bretton Woods, BRICs, British Empire, business cycle, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, carbon credits, Carmen Reinhart, central bank independence, classic study, collective bargaining, continuous integration, corporate governance, creative destruction, Credit Default Swap, crony capitalism, currency manipulation / currency intervention, currency peg, dark matter, democratizing finance, Deng Xiaoping, disintermediation, ending welfare as we know it, eurozone crisis, facts on the ground, financial deregulation, financial innovation, Financial Instability Hypothesis, financial intermediation, floating exchange rates, foreign exchange controls, full employment, Gini coefficient, Glass-Steagall Act, global value chain, guest worker program, Hyman Minsky, imperial preference, income inequality, inflation targeting, interchangeable parts, interest rate swap, Kenneth Rogoff, Kickstarter, land reform, late capitalism, liberal capitalism, liquidity trap, London Interbank Offered Rate, Long Term Capital Management, low interest rates, manufacturing employment, market bubble, market fundamentalism, Martin Wolf, means of production, military-industrial complex, money market fund, money: store of value / unit of account / medium of exchange, Monroe Doctrine, moral hazard, mortgage debt, mortgage tax deduction, Myron Scholes, new economy, Nixon triggered the end of the Bretton Woods system, non-tariff barriers, Northern Rock, oil shock, precariat, price stability, proprietary trading, quantitative easing, Ralph Nader, RAND corporation, regulatory arbitrage, reserve currency, risk tolerance, Ronald Reagan, Savings and loan crisis, scientific management, seigniorage, shareholder value, short selling, Silicon Valley, sovereign wealth fund, special drawing rights, special economic zone, stock buybacks, structural adjustment programs, subprime mortgage crisis, Tax Reform Act of 1986, The Chicago School, The Great Moderation, the payments system, The Wealth of Nations by Adam Smith, too big to fail, trade liberalization, transcontinental railway, trickle-down economics, union organizing, vertical integration, very high income, Washington Consensus, We are all Keynesians now, Works Progress Administration, zero-coupon bond, zero-sum game

The reason, he said, was that China was backward and needed the knowledge, the technology, and the markets that the rest of the world in general and the United States in particular had to offer.82 Although Deng was especially impressed by the rapid development of Japan and South Korea, the initial Chinese reforms had by and large been creative variations on reforms attempted by other Communist states: allowing rural households to have their own plots of land; promoting collectively owned town and village enterprises (TVEs) while permitting the development of small-scale private enterprises; modest market-oriented reforms in state owned enterprises (SOEs); regional experimentation with “special economic zones” to promote exports and induce foreign investment.83 All of this led to strong growth, but came up against the same trade and fiscal contradictions that many other developing countries had experienced. By the end of the 1980s, the rapid rise in imports of machinery and consumer goods had left China with a negative balance of trade; this, together with the stagnation of the SOEs, had led to a serious decline in state revenues.84 With the limits of the SOE reforms exposed, a broader strategic shift to the “second opening” was put in hand by the early 1990s.


pages: 781 words: 226,928

Commodore: A Company on the Edge by Brian Bagnall

Apple II, belly landing, Bill Gates: Altair 8800, Byte Shop, Claude Shannon: information theory, computer age, Computer Lib, Dennis Ritchie, Douglas Engelbart, Douglas Engelbart, Firefox, Ford Model T, game design, Gary Kildall, Great Leap Forward, index card, inventory management, Isaac Newton, Ken Thompson, low skilled workers, Menlo Park, packet switching, pink-collar, popular electronics, prediction markets, pre–internet, QWERTY keyboard, Robert Metcalfe, Robert X Cringely, Silicon Valley, special economic zone, Steve Jobs, Steve Wozniak, systems thinking, Ted Nelson, vertical integration

“Hong Kong is an amazing spot where lots of capitalists and free market stuff just rages,” says Bill Seiler. “I like the Hong Kong Asians a lot. They’re pretty hip and they understand American humor a lot better than the mainland Chinese. They don’t get our jokes.” In 1978, the Chinese government began a transition from a planned economy to a market economy. Commodore began to look into the Special Economic Zones set up by People’s Republic of China. “They’d do some goofy stuff,” recalls Seiler. “I remember being at one plant somewhere in Hainan, they turned off the power for three hours one day! The government just turned it off.” The poor infrastructure in China amazed Seiler. “If that was a private power company, they are quick to get the power back on because they are losing money if it’s not pouring into somebody’s homes,” he says.


pages: 843 words: 223,858

The Rise of the Network Society by Manuel Castells

air traffic controllers' union, Alan Greenspan, Apple II, Asian financial crisis, barriers to entry, Big bang: deregulation of the City of London, Bob Noyce, borderless world, British Empire, business cycle, capital controls, classic study, complexity theory, computer age, Computer Lib, computerized trading, content marketing, creative destruction, Credit Default Swap, declining real wages, deindustrialization, delayed gratification, dematerialisation, deskilling, digital capitalism, digital divide, disintermediation, double helix, Douglas Engelbart, Douglas Engelbart, edge city, experimental subject, export processing zone, Fairchild Semiconductor, financial deregulation, financial independence, floating exchange rates, future of work, gentrification, global village, Gunnar Myrdal, Hacker Ethic, hiring and firing, Howard Rheingold, illegal immigration, income inequality, independent contractor, Induced demand, industrial robot, informal economy, information retrieval, intermodal, invention of the steam engine, invention of the telephone, inventory management, Ivan Sutherland, James Watt: steam engine, job automation, job-hopping, John Markoff, John Perry Barlow, Kanban, knowledge economy, knowledge worker, labor-force participation, laissez-faire capitalism, Leonard Kleinrock, longitudinal study, low skilled workers, manufacturing employment, Marc Andreessen, Marshall McLuhan, means of production, megacity, Menlo Park, military-industrial complex, moral panic, new economy, New Urbanism, offshore financial centre, oil shock, open economy, packet switching, Pearl River Delta, peer-to-peer, planetary scale, popular capitalism, popular electronics, post-Fordism, post-industrial society, Post-Keynesian economics, postindustrial economy, prediction markets, Productivity paradox, profit maximization, purchasing power parity, RAND corporation, Recombinant DNA, Robert Gordon, Robert Metcalfe, Robert Solow, seminal paper, Shenzhen special economic zone , Shoshana Zuboff, Silicon Valley, Silicon Valley startup, social software, South China Sea, South of Market, San Francisco, special economic zone, spinning jenny, statistical model, Steve Jobs, Steve Wozniak, Strategic Defense Initiative, tacit knowledge, technological determinism, Ted Nelson, the built environment, the medium is the message, the new new thing, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, total factor productivity, trade liberalization, transaction costs, urban renewal, urban sprawl, vertical integration, work culture , zero-sum game

Materials, technology, and managers were being sent from Hong Kong and Shenzhen, and manufactured goods were generally exported from Hong Kong (actually surpassing the value of Hong Kong-made exports), although the building of new container ports in Yiantian and Gaolan aimed at diversifying export sites. This accelerated process of export-oriented industrialization and business linkages between China and the global economy led to an unprecedented urban explosion. Shenzhen Special Economic Zone, on the Hong Kong border, grew from zero to 1.5 million inhabitants between 1982 and 1995. Local governments in the whole area, full of cash from overseas Chinese investors, embarked on the construction of major infrastructural projects, the most amazing of which, still in the planning stage at the time of writing, was the decision by Zhuhai’s local government to build a 60 km bridge over the South China Sea to link by road Zhuhai and Hong Kong.


pages: 828 words: 232,188

Political Order and Political Decay: From the Industrial Revolution to the Globalization of Democracy by Francis Fukuyama

Affordable Care Act / Obamacare, Andrei Shleifer, Asian financial crisis, Atahualpa, banking crisis, barriers to entry, Berlin Wall, blood diamond, British Empire, centre right, classic study, clean water, collapse of Lehman Brothers, colonial rule, conceptual framework, Cornelius Vanderbilt, cotton gin, crony capitalism, Day of the Dead, deindustrialization, Deng Xiaoping, disruptive innovation, double entry bookkeeping, Edward Snowden, Erik Brynjolfsson, European colonialism, facts on the ground, failed state, Fall of the Berlin Wall, first-past-the-post, Francis Fukuyama: the end of history, Francisco Pizarro, Frederick Winslow Taylor, full employment, Gini coefficient, Glass-Steagall Act, Great Leap Forward, Hernando de Soto, high-speed rail, Home mortgage interest deduction, household responsibility system, income inequality, information asymmetry, invention of the printing press, iterative process, Kickstarter, knowledge worker, labour management system, land reform, land tenure, life extension, low interest rates, low skilled workers, manufacturing employment, means of production, Menlo Park, Mohammed Bouazizi, Monroe Doctrine, moral hazard, Nelson Mandela, new economy, open economy, out of africa, Peace of Westphalia, Port of Oakland, post-industrial society, post-materialism, price discrimination, quantitative easing, RAND corporation, rent-seeking, road to serfdom, Ronald Reagan, scientific management, Scientific racism, Scramble for Africa, Second Machine Age, Silicon Valley, special economic zone, stem cell, subprime mortgage crisis, the scientific method, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, too big to fail, trade route, transaction costs, Twitter Arab Spring, Tyler Cowen, Tyler Cowen: Great Stagnation, Vilfredo Pareto, women in the workforce, work culture , World Values Survey, zero-sum game

This authority often clashes with, and frequently trumps, the interests of the line ministries headquartered in Beijing. Most Western observers focus on the reform’s creation of market incentives through the household responsibility system, which decollectivized agriculture and allowed peasants to keep a much larger proportion of their output. They also point to the creation of four special economic zones open to foreign investment. These were indeed critical: agricultural output doubled in the first four years following the reform as private incentives kicked in, and export industries were seeded in southern cities like Shenzhen. But equally important were changes in the governance structure that created a fiscal responsibility system for local governments.


Israel & the Palestinian Territories Travel Guide by Lonely Planet

active transport: walking or cycling, airport security, Albert Einstein, back-to-the-land, bike sharing, biodiversity loss, carbon footprint, centre right, clean water, coronavirus, flag carrier, G4S, game design, gentrification, high-speed rail, illegal immigration, information security, Khartoum Gordon, Louis Pasteur, sensible shoes, Silicon Valley, Skype, South China Sea, special economic zone, spice trade, Suez canal 1869, trade route, urban planning, Yom Kippur War, zero-sum game

Reserve by phone at least two days ahead. Yitzhak Rabin/Wadi Araba Crossing Located just 3km northeast of Eilat, this crossing (%08-630 0555, 08-630 0530; www.iaa.gov.il; h6.30am-8pm Sun-Thu, 8am-8pm Fri & Sat) is handy for trips to Aqaba, Petra and Wadi Rum. A bonus: thanks to the Aqaba Special Economic Zone, Jordanian visas issued here are free. Most hotels and hostels in Eilat offer day trips to Petra. Getting There & Away A taxi to/from Eilat (10 minutes) costs 45NIS. If you’re coming by bus from the north (eg Jerusalem, Tel Aviv or the Dead Sea), it may be possible to get off on Rte 90 at the turn-off to the border or at Kibbutz Eilot, but from there it's 2km on foot through the desert (along Rte 109).


pages: 829 words: 229,566

This Changes Everything: Capitalism vs. The Climate by Naomi Klein

"World Economic Forum" Davos, 1960s counterculture, activist fund / activist shareholder / activist investor, An Inconvenient Truth, Anthropocene, battle of ideas, Berlin Wall, Big Tech, big-box store, bilateral investment treaty, Blockadia, Boeing 747, British Empire, business climate, Capital in the Twenty-First Century by Thomas Piketty, carbon credits, carbon footprint, carbon tax, clean tech, clean water, Climategate, cognitive dissonance, coherent worldview, colonial rule, Community Supported Agriculture, complexity theory, crony capitalism, decarbonisation, degrowth, deindustrialization, dematerialisation, different worldview, Donald Trump, Downton Abbey, Dr. Strangelove, electricity market, energy security, energy transition, equal pay for equal work, extractivism, Exxon Valdez, failed state, fake news, Fall of the Berlin Wall, feminist movement, financial deregulation, food miles, Food sovereignty, gentrification, geopolitical risk, global supply chain, green transition, high-speed rail, hydraulic fracturing, ice-free Arctic, immigration reform, income per capita, Intergovernmental Panel on Climate Change (IPCC), Internet Archive, invention of the steam engine, invisible hand, Isaac Newton, James Watt: steam engine, Jones Act, Kickstarter, Kim Stanley Robinson, land bank, light touch regulation, man camp, managed futures, market fundamentalism, Medieval Warm Period, Michael Shellenberger, military-industrial complex, moral hazard, Naomi Klein, new economy, Nixon shock, Occupy movement, ocean acidification, off-the-grid, offshore financial centre, oil shale / tar sands, open borders, patent troll, Pearl River Delta, planetary scale, planned obsolescence, post-oil, precautionary principle, profit motive, quantitative easing, race to the bottom, Ralph Waldo Emerson, Rana Plaza, remunicipalization, renewable energy transition, Ronald Reagan, Russell Brand, scientific management, smart grid, special economic zone, Stephen Hawking, Stewart Brand, structural adjustment programs, Ted Kaczynski, Ted Nordhaus, TED Talk, the long tail, the scientific method, The Wealth of Nations by Adam Smith, trade route, transatlantic slave trade, trickle-down economics, Upton Sinclair, uranium enrichment, urban planning, urban sprawl, vertical integration, Virgin Galactic, wages for housework, walkable city, Washington Consensus, Wayback Machine, We are all Keynesians now, Whole Earth Catalog, WikiLeaks

As if it was not our governments and our multinationals that pushed a model of export-led development that made all of this possible. It is said as if it were not our own corporations who, with single-minded determination (and with full participation from China’s autocratic rulers), turned the Pearl River Delta into their carbon-spewing special economic zone, with the goods going straight onto container ships headed to our superstores. All in the name of feeding the god of economic growth (via the altar of hyper-consumption) in every country in the world. The victims in all this are regular people: the workers who lose their factory jobs in Juárez and Windsor; the workers who get the factory jobs in Shenzhen and Dhaka, jobs that are by this point so degraded that some employers install nets along the perimeters of roofs to catch employees when they jump, or where safety codes are so lax that workers are killed in the hundreds when buildings collapse.


pages: 846 words: 250,145

The Cold War: A World History by Odd Arne Westad

Able Archer 83, Albert Einstein, American ideology, anti-communist, Ayatollah Khomeini, Berlin Wall, Bolshevik threat, Bretton Woods, British Empire, capital controls, collective bargaining, colonial rule, continuous integration, cuban missile crisis, Deng Xiaoping, disinformation, Dissolution of the Soviet Union, energy security, European colonialism, facts on the ground, failed state, Fall of the Berlin Wall, financial deregulation, full employment, Great Leap Forward, household responsibility system, imperial preference, Internet Archive, land reform, Les Trente Glorieuses, liberal capitalism, long peace, means of production, Mikhail Gorbachev, military-industrial complex, mutually assured destruction, Nelson Mandela, new economy, Nixon shock, Nixon triggered the end of the Bretton Woods system, oil shock, out of africa, post-industrial society, Ronald Reagan, Ronald Reagan: Tear down this wall, South China Sea, special economic zone, Strategic Defense Initiative, Suez crisis 1956, union organizing, urban planning, War on Poverty, women in the workforce, Yom Kippur War, young professional, zero-sum game

Agricultural production shot up. Farmers started to save money. Sometimes they pooled their money to start small enterprises in their villages or the nearest town. State-owned enterprises were allowed to sell surplus products and set their own prices for them. Foreign investment was encouraged in special economic zones, where foreign companies could invest freely and retrieve their profits, as long as they were willing to share their technological know-how with Chinese companies. While Deng was a daring experimenter in economic policy, he was much less certain in international affairs. He knew that he needed a good relationship with the United States and linked Chinese foreign policy closely to that of Washington.