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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, failed state, global supply chain, global value chain, income inequality, Khartoum Gordon, labour market flexibility, land reform, megacity, microcredit, offshore financial centre, out of africa, profit maximization, purchasing power parity, RAND corporation, Scramble for Africa, South China Sea, special economic zone, structural adjustment programs, trade route, Washington Consensus
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.
Quoted in Alec Russell and William Wallis, “Beijing Puts Quiet Pressure on Sudan,” Financial Times (19 June 2007), 6. 58. 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. Numerous African governments have established or are establishing such zones in their countries in an attempt to attract foreign direct investment (FDI), especially in labor-intensive manufacturing industries.
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. Ibid., 10. 3. Ibid., 3. 4. Yehua Dennis Wei and Chi Kin Leung, “Development Zones, Foreign Investment, and Global City Formation in Shanghai,” Growth and Change, XXXVI (2005), 18. 5.
Connectography: Mapping the Future of Global Civilization by Parag Khanna
1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, 9 dash line, additive manufacturing, Admiral Zheng, affirmative action, agricultural Revolution, Airbnb, Albert Einstein, amateurs talk tactics, professionals talk logistics, Amazon Mechanical Turk, 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, charter city, clean water, cloud computing, collateralized debt obligation, complexity theory, 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, diversification, Doha Development Round, edge city, Edward Snowden, Elon Musk, energy security, ethereum blockchain, European colonialism, eurozone crisis, failed state, Fall of the Berlin Wall, family office, Ferguson, Missouri, financial innovation, financial repression, forward guidance, global supply chain, global value chain, global village, Google Earth, Hernando de Soto, high net worth, Hyperloop, ice-free Arctic, if you build it, they will come, illegal immigration, income inequality, income per capita, industrial robot, informal economy, Infrastructure as a Service, interest rate swap, Internet of things, Isaac Newton, Jane Jacobs, Jaron Lanier, John von Neumann, Julian Assange, Just-in-time delivery, Kevin Kelly, Khyber Pass, Kibera, Kickstarter, labour market flexibility, labour mobility, LNG terminal, low cost carrier, manufacturing employment, mass affluent, megacity, Mercator projection, microcredit, mittelstand, Monroe Doctrine, mutually assured destruction, New Economic Geography, new economy, New Urbanism, offshore financial centre, oil rush, oil shale / tar sands, oil shock, openstreetmap, out of africa, Panamax, Peace of Westphalia, peak oil, Peter Thiel, Plutocrats, plutocrats, post-oil, post-Panamax, private military company, purchasing power parity, QWERTY keyboard, race to the bottom, Rana Plaza, rent-seeking, reserve currency, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Coase, Scramble for Africa, Second Machine Age, sharing economy, 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, TaskRabbit, telepresence, the built environment, Tim Cook: Apple, trade route, transaction costs, UNCLOS, uranium enrichment, urban planning, urban sprawl, WikiLeaks, young professional, zero day
Instead, the large-scale supply chain integration of the country is taking off. The most visible—and growing—signs of this shift are its special economic zones. Kaesong employs over fifty thousand North Koreans producing parts for the automaker Hyundai, as well as watches and shoes at wages far lower than in China. One foreign investor I met runs a factory there that makes DVD players, which North Koreans then take home to watch smuggled videos from the South. If sanctions were lifted on exports of computer parts and other electronics coming out of Kaesong, the zone’s honest revenues could surge from $500 million to billions of dollars annually. In 2014, Kim Jong Un announced that each North Korean province should develop its own special economic zone as well; they have no choice, because Pyongyang provides the outer cities and regions with almost nothing.
WORLDMAPPER http://www.worldmapper.org Worldmapper filters quantitative data through algorithms to produce unique cartograms that rescale geographies to depict their significance according to themes such as wealth, emissions, and Internet access. 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.
National Intelligence Council, Global Trends 2030 Alternative Worlds, National Intelligence Council, 2012, p. 135. 2. 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. Rosa Brooks, “Failed States, or the State as Failure?
Capitalism: A Ghost Story by Arundhati Roy
Bretton Woods, corporate governance, feminist movement, Frank Gehry, ghettoisation, Howard Zinn, informal economy, land reform, Mahatma Gandhi, means of production, megacity, microcredit, 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.
The other major source of corporate wealth comes from their land banks. 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. But by now we know that the connection between GDP growth and jobs is a myth.
The campaign is being handled by people who run a clutch of generously funded NGOs whose donors include Coca-Cola and the Lehman Brothers. 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.
Strange Rebels: 1979 and the Birth of the 21st Century by Christian Caryl
anti-communist, Ayatollah Khomeini, Berlin Wall, Bretton Woods, British Empire, colonial rule, Deng Xiaoping, financial deregulation, financial independence, friendly fire, full employment, income inequality, industrial robot, Internet Archive, land reform, land tenure, Mahatma Gandhi, means of production, Mikhail Gorbachev, Mohammed Bouazizi, Mont Pelerin Society, new economy, New Urbanism, oil shock, open borders, open economy, Plutocrats, plutocrats, price stability, rent control, road to serfdom, Ronald Reagan, single-payer health, special economic zone, The Chicago School, union organizing, upwardly mobile, Winter of Discontent, Xiaogang Anhui farmers, Yom Kippur War
“Crossing the River While Feeling the Rocks: Land-Tenure Reform in China,” John W. 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. “‘Two Faces’ of Deng Xiaoping,” Bao Tong, Radio Free Asia, December 29, 2008. 12.
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 only local telephone was located in the village administration office, and placing calls was hair-raisingly frustrating business. 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.
Albert Einstein, barriers to entry, Berlin Wall, collective bargaining, congestion charging, Corn Laws, David Ricardo: comparative advantage, decarbonisation, Deng Xiaoping, Fall of the Berlin Wall, George Akerlof, invention of movable type, John Nash: game theory, John von Neumann, market design, Martin Wolf, moral hazard, new economy, price discrimination, Productivity paradox, race to the bottom, random walk, rent-seeking, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, sealed-bid auction, second-price auction, second-price sealed-bid, 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. Over half of all investment into China in 1990 came from the tiny country of Hong Kong, while Japan and the United States together supplied only a quarter.
Over half of all investment into China in 1990 came from the tiny country of Hong Kong, while Japan and the United States together supplied only a quarter. 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.
The Enigma of Capital: And the Crises of Capitalism by David Harvey
accounting loophole / creative accounting, 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, 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, global reserve currency, Google Earth, Guggenheim Bilbao, 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, moral hazard, mortgage debt, new economy, New Urbanism, Northern Rock, oil shale / tar sands, peak oil, place-making, Ponzi scheme, precariat, reserve currency, Ronald Reagan, sharing economy, Silicon Valley, special drawing rights, special economic zone, statistical arbitrage, structural adjustment programs, the built environment, the market place, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, Thorstein Veblen, too big to fail, trickle-down economics, urban renewal, urban sprawl, 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. The financial epicentres were New York and London, which had shared the lead in slicing, dicing and securitising housing mortgages and other forms of debt, and in constructing the financial instruments (chiefly collateralised debt obligations and special investment vehicles) for marketing and trading this debt along with the secondary mechanisms for insuring, hedging and swapping it.
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.
The urbanisation of China over the last twenty years has been hugely important. 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.
The Stack: On Software and Sovereignty by Benjamin H. Bratton
1960s counterculture, 3D printing, 4chan, Ada Lovelace, additive manufacturing, airport security, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, algorithmic trading, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, Berlin Wall, bioinformatics, bitcoin, blockchain, Buckminster Fuller, Burning Man, call centre, carbon footprint, carbon-based life, Cass Sunstein, Celebration, Florida, charter city, clean water, cloud computing, connected car, corporate governance, crowdsourcing, cryptocurrency, dark matter, David Graeber, deglobalization, dematerialisation, disintermediation, distributed generation, don't be evil, Douglas Engelbart, Edward Snowden, Elon Musk, en.wikipedia.org, Eratosthenes, ethereum blockchain, facts on the ground, Flash crash, Frank Gehry, Frederick Winslow Taylor, future of work, Georg Cantor, gig economy, global supply chain, Google Earth, Google Glasses, Guggenheim Bilbao, High speed trading, Hyperloop, illegal immigration, industrial robot, information retrieval, intermodal, Internet of things, invisible hand, Jacob Appelbaum, Jaron Lanier, Jony Ive, Julian Assange, Khan Academy, linked data, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, Masdar, McMansion, means of production, megacity, megastructure, Menlo Park, Minecraft, Monroe Doctrine, Network effects, new economy, offshore financial centre, oil shale / tar sands, packet switching, PageRank, pattern recognition, peak oil, performance metric, personalized medicine, Peter Thiel, phenotype, place-making, planetary scale, RAND corporation, recommendation engine, reserve currency, RFID, Sand Hill Road, self-driving car, semantic web, sharing economy, Silicon Valley, Silicon Valley ideology, Slavoj Žižek, smart cities, smart grid, smart meter, 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, TaskRabbit, the built environment, The Chicago School, the scientific method, Torches of Freedom, transaction costs, Turing complete, Turing machine, Turing test, universal basic income, urban planning, Vernor Vinge, Washington Consensus, web application, WikiLeaks, working poor, Y Combinator
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.
Modern state polities are defined as interior to their own circumscribing geographic partition, and their sovereignty is produced in the fragile image of that line's stability, even as that line remains reversible (all extrastate actors rely on that inversion and its convolutions). 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.
A plurality of lines, both dividing and linking at once, might fold on itself in various ways and in these overlaps create irregular twisty grids, populated by air pockets of various sizes and identity, inside or outside, enclaves and exclaves. 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.
Zero-Sum Future: American Power in an Age of Anxiety by Gideon Rachman
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, 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, global reserve currency, greed is good, Hernando de Soto, illegal immigration, income inequality, invisible hand, Jeff Bezos, laissez-faire capitalism, market fundamentalism, Martin Wolf, Mexican peso crisis / tequila crisis, Mikhail Gorbachev, moral hazard, mutually assured destruction, Naomi Klein, offshore financial centre, open borders, open economy, Peace of Westphalia, peak oil, pension reform, Plutocrats, plutocrats, price stability, RAND corporation, reserve currency, rising living standards, road to serfdom, Ronald Reagan, shareholder value, Sinatra Doctrine, sovereign wealth fund, special economic zone, Steve Jobs, Stewart Brand, The Chicago School, The Great Moderation, The Myth of the Rational Market, Thomas Malthus, trickle-down economics, Washington Consensus, Winter of Discontent
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.
Economic progress was remarkably rapid. 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. The Soviet Union was also starting from a different situation.
Seventeen Contradictions and the End of Capitalism by David Harvey
accounting loophole / creative accounting, bitcoin, Branko Milanovic, Bretton Woods, BRICs, British Empire, business climate, California gold rush, call centre, central bank independence, clean water, cloud computing, collapse of Lehman Brothers, colonial rule, Credit Default Swap, David Ricardo: comparative advantage, deindustrialization, demographic dividend, Deng Xiaoping, deskilling, 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, global reserve currency, Guggenheim Bilbao, 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, new economy, New Urbanism, Occupy movement, peak oil, phenotype, Plutocrats, plutocrats, Ponzi scheme, quantitative easing, rent-seeking, reserve currency, road to serfdom, Robert Gordon, Ronald Reagan, short selling, Silicon Valley, special economic zone, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, transaction costs, Tyler Cowen: Great Stagnation, wages for housework, Wall-E, women in the workforce, working poor, working-age population
The imposition of private property rights depends upon the existence of state powers and legal systems (usually coupled with monetary taxation arrangements) that codify, define and enforce the contractual obligations that attach to both private property rights and the rights of juridical individuals. 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.
The massing of centralised financial powers in the major centres of global finance (New York, London, Tokyo, Shanghai, Frankfurt, São Paulo etc.) is of significance, as is the long history of the flourishing of innovations in new territories like Silicon Valley, Bavaria, the so-called ‘Third Italy’ in the 1980s and so on, where the seeming liberty of manoeuvre and lack of regulatory control allow things to happen that might otherwise get constrained by stifling and dominant powers of state and corporate capital grown obese. 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?
Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia by Anthony M. Townsend
1960s counterculture, 4chan, A Pattern Language, Airbnb, Amazon Web Services, anti-communist, Apple II, Bay Area Rapid Transit, Burning Man, business process, call centre, carbon footprint, charter city, chief data officer, clean water, cleantech, cloud computing, computer age, congestion charging, connected car, crack epidemic, crowdsourcing, DARPA: Urban Challenge, data acquisition, Deng Xiaoping, East Village, Edward Glaeser, game design, garden city movement, Geoffrey West, Santa Fe Institute, George Gilder, ghettoisation, global supply chain, Grace Hopper, Haight Ashbury, Hedy Lamarr / George Antheil, hive mind, Howard Rheingold, interchangeable parts, Internet Archive, Internet of things, Jacquard loom, Jacquard loom, Jane Jacobs, jitney, John Snow's cholera map, Khan Academy, Kibera, knowledge worker, load shedding, M-Pesa, Mark Zuckerberg, megacity, mobile money, mutually assured destruction, new economy, New Urbanism, Norbert Wiener, Occupy movement, openstreetmap, packet switching, patent troll, place-making, planetary scale, popular electronics, RFC: Request For Comment, RFID, ride hailing / ride sharing, Robert Gordon, self-driving car, sharing economy, Silicon Valley, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, smart grid, smart meter, social graph, social software, social web, 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, Tyler Cowen: Great Stagnation, 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.
The airport is to Songdo what New York’s harbor or Chicago’s railyards once were. 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. Viewed from the sky, its street grid forms an arrow aimed straight at the heart of coastal China. It is a kind of neoliberal feng shui diagram, drawing energy from the rapidly urbanizing nation just over the western horizon.
., 5, 57–61, 294 Centre for Advanced Spatial Analysis, 85 Centrino processor, 132 Cerdà, Ildefons, 43–44, 93 Cerf, Vint, 303 Chambers, John, 24 Chattanooga, Tenn., 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.
Some Remarks by Neal Stephenson
airport security, augmented reality, barriers to entry, British Empire, cable laying ship, call centre, cellular automata, edge city, Eratosthenes, Fellow of the Royal Society, Hacker Ethic, impulse control, Iridium satellite, Isaac Newton, Jaron Lanier, John von Neumann, Just-in-time delivery, Kevin Kelly, music of the spheres, Norbert Wiener, offshore financial centre, oil shock, packet switching, pirate software, Richard Feynman, Richard Feynman, Saturday Night Live, shareholder value, Silicon Valley, Skype, slashdot, social web, Socratic dialogue, South China Sea, special economic zone, Stephen Hawking, the scientific method, trade route, Turing machine, uranium enrichment, Vernor Vinge, X Prize
An elevator is coming up toward me, L M 2 3 4 5 6 and then DING and the doors open, and out steps a slacker who can only be Chaz, thousands of snowflakes caught in his hair, glinting in the light like he’s just stepped out of the Land of Faerie. 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. It’s not that he can’t afford a “prawn,” as the newer flip phones are called.
The lounge spins disconcertingly fast—you have to recalibrate your inner ear when you enter, and I half expect to see the head of my Guinness listing. 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.
Several more coders came out carrying mortars and began launching bombs into the air, holding the things right in front of their faces as they disgorged fireballs with satisfying thuds. 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.
A Brief History of Neoliberalism by David Harvey
affirmative action, Asian financial crisis, Berlin Wall, Bretton Woods, business climate, capital controls, centre right, collective bargaining, crony capitalism, debt deflation, declining real wages, deglobalization, deindustrialization, Deng Xiaoping, Fall of the Berlin Wall, financial deregulation, financial intermediation, financial repression, full employment, George Gilder, Gini coefficient, global reserve currency, illegal immigration, income inequality, informal economy, labour market flexibility, land tenure, late capitalism, Long Term Capital Management, low-wage service sector, manufacturing employment, market fundamentalism, means of production, Mexican peso crisis / tequila crisis, Mont Pelerin Society, mortgage tax deduction, neoliberal agenda, new economy, phenotype, Ponzi scheme, price mechanism, race to the bottom, rent-seeking, reserve currency, Ronald Reagan, Silicon Valley, special economic zone, structural adjustment programs, the built environment, The Chicago School, transaction costs, union organizing, urban renewal, urban sprawl, Washington Consensus, 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.
The Flat White Economy by Douglas McWilliams
access to a mobile phone, banking crisis, Big bang: deregulation of the City of London, bonus culture, cleantech, cloud computing, computer age, correlation coefficient, Edward Glaeser, en.wikipedia.org, Erik Brynjolfsson, eurozone crisis, George Gilder, hiring and firing, income inequality, informal economy, knowledge economy, low skilled workers, Network effects, new economy, offshore financial centre, Peter Thiel, Productivity paradox, Silicon Valley, smart cities, special economic zone, Steve Jobs, working-age population
The popularity of its IPO was partly spurred by the prospect of tapping into the Chinese consumer market with a population of 1.4 billion people. 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. Furthermore, the Chinese government is setting up a service centre that will reduce the time taken for a technology startup company to receive the necessary licenses and approvals, to four days from fifteen.27 The outlook for technical development in China has to be promising – though subject to any risks of social upheaval.
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
airport security, banking crisis, barriers to entry, Berlin Wall, blood diamonds, Bretton Woods, BRICs, capital controls, clean water, Deng Xiaoping, Doha Development Round, energy security, European colonialism, failed state, global rebalancing, global supply chain, income inequality, informal economy, Julian Assange, labour mobility, Martin Wolf, Mikhail Gorbachev, mutually assured destruction, Nixon shock, nuclear winter, 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.
How to Run the World: Charting a Course to the Next Renaissance by Parag Khanna
Albert Einstein, Asian financial crisis, back-to-the-land, bank run, blood diamonds, borderless world, BRICs, British Empire, call centre, carbon footprint, charter city, clean water, cleantech, cloud computing, corporate governance, corporate social responsibility, Deng Xiaoping, Doha Development Round, don't be evil, double entry bookkeeping, energy security, European colonialism, facts on the ground, failed state, friendly fire, global village, Google Earth, high net worth, index fund, informal economy, invisible hand, labour mobility, laissez-faire capitalism, Masdar, megacity, microcredit, mutually assured destruction, Naomi Klein, New Urbanism, offshore financial centre, oil shock, open economy, out of africa, private military company, Productivity paradox, race to the bottom, RAND corporation, reserve currency, Silicon Valley, smart grid, South China Sea, sovereign wealth fund, special economic zone, sustainable-tourism, 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. One of the world’s largest banks, HSBC—known for its multicultural “visual values” ads in airport Jetway ramps—has twenty thousand offices in eighty-three countries, three hundred thousand employees, and 150 million customers.
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. Countries that want to catch up might have to set aside new physical spaces for high-productivity “charter cities” to be built from scratch, combining foreign capital and domestic labor.
McMafia: A Journey Through the Global Criminal Underworld by Misha Glenny
anti-communist, Anton Chekhov, Berlin Wall, blood diamonds, 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, illegal immigration, joint-stock company, market bubble, Mikhail Gorbachev, Nick Leeson, offshore financial centre, place-making, rising living standards, Ronald Reagan, 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. By opening up this province, Deng hoped to attract huge investment from Taiwan to the mainland.
“It doesn’t matter whether the mice are black or white,” as Deng’s saying has now been paraphrased, “as long as they avoid the cat.” 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. The cost of the umbrella was high but could be paid in a variety of currencies.
Twenty years ago, Shenzhen had a population of several thousand and was no more than a few scattered villages. 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. “I went to Dubai recently,” he said.
3D printing, Asian financial crisis, backtesting, bank run, banking crisis, Berlin Wall, Bernie Sanders, BRICs, business climate, 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, crony capitalism, currency peg, dark matter, debt deflation, deglobalization, deindustrialization, demographic dividend, demographic transition, Deng Xiaoping, Doha Development Round, Donald Trump, Edward Glaeser, Elon Musk, eurozone crisis, failed state, Fall of the Berlin Wall, falling living standards, Francis Fukuyama: the end of history, Freestyle chess, Gini coefficient, hiring and firing, income inequality, indoor plumbing, industrial robot, inflation targeting, Internet of things, Jeff Bezos, job automation, Joseph Schumpeter, Kenneth Rogoff, knowledge economy, labor-force participation, Malacca Straits, Mark Zuckerberg, market bubble, megacity, Mexican peso crisis / tequila crisis, mittelstand, moral hazard, New Economic Geography, North Sea oil, oil rush, oil shale / tar sands, oil shock, pattern recognition, Peter Thiel, pets.com, Plutocrats, 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, 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, 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. This was authoritarian-style development but with power dispersed to the local level.
This area includes a “bungalow zone” of hundreds of homes on more than twenty-five square kilometers owned almost entirely by the government and surrounded by verdant parklands and laced with wide tree-lined roads. 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. Though the once all-powerful government in Delhi has in recent decades ceded significant spending authority to chief ministers in India’s twenty-nine states, that power has not filtered down to the mayoral level, and it shows.
To help its global companies compete abroad, the Abe government cut corporate taxes from 40 percent to 32 percent and is targeting a further cut to 29 percent, a little lower than in Germany. 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.
Second World: Empires and Influence in the New Global Order by Parag Khanna
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, crony capitalism, Deng Xiaoping, Dissolution of the Soviet Union, Donald Trump, Edward Glaeser, energy security, European colonialism, facts on the ground, failed state, flex fuel, Francis Fukuyama: the end of history, friendly fire, Gini coefficient, global reserve currency, global supply chain, haute couture, Hernando de Soto, illegal immigration, income inequality, informal economy, invisible hand, Islamic Golden Age, Khyber Pass, knowledge economy, land reform, low skilled workers, means of production, megacity, Monroe Doctrine, oil shale / tar sands, oil shock, open borders, open economy, Pax Mongolica, pirate software, Plutonomy: Buying Luxury, Explaining Global Imbalances, Potemkin village, price stability, race to the bottom, RAND corporation, reserve currency, rising living standards, Ronald Reagan, Silicon Valley, Skype, South China Sea, special economic zone, stem cell, Stephen Hawking, Thomas L Friedman, trade route, trickle-down economics, uranium enrichment, urban renewal, Washington Consensus, women in the workforce
“Now that the West’s energy security depends on our strategic position, it will have to help us get control of the country,” a Georgian government adviser declared in an office refurbished with EU funds. 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.
Aerotropolis by John D. Kasarda, Greg Lindsay
3D printing, air freight, airline deregulation, airport security, Akira Okazaki, Asian financial crisis, back-to-the-land, barriers to entry, Berlin Wall, big-box store, blood diamonds, borderless world, British Empire, call centre, carbon footprint, Clayton Christensen, cleantech, cognitive dissonance, conceptual framework, credit crunch, David Brooks, David Ricardo: comparative advantage, Deng Xiaoping, deskilling, edge city, Edward Glaeser, failed state, food miles, Ford paid five dollars a day, Frank Gehry, fudge factor, full employment, future of work, Geoffrey West, Santa Fe Institute, George Gilder, global supply chain, global village, gravity well, Haber-Bosch Process, Hernando de Soto, hive mind, if you build it, they will come, illegal immigration, inflight wifi, interchangeable parts, intermodal, invention of the telephone, inventory management, invisible hand, Jane Jacobs, Jeff Bezos, Kangaroo Route, knowledge worker, kremlinology, labour mobility, Marshall McLuhan, Masdar, McMansion, megacity, Menlo Park, microcredit, Network effects, New Economic Geography, new economy, New Urbanism, oil shale / tar sands, oil shock, peak oil, Peter Thiel, pets.com, pink-collar, pre–internet, RFID, Richard Florida, Ronald Coase, Ronald Reagan, savings glut, Seaside, Florida, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, spinning jenny, stem cell, Steve Jobs, supply-chain management, sustainable-tourism, telepresence, the built environment, The Chicago School, The Death and Life of Great American Cities, 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, walkable city, white flight, Yogi Berra
Abandoned by many of their shadowy clients, ambitious companies like Casey’s are learning to innovate instead. 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. Until the crisis, the Delta was the world’s biggest boomtown, crowding 5 percent of China’s population into less than 1 percent of its land, where they produced 20 percent of the country’s GDP and 40 percent of its exports.
Hong Kong’s historical advantage as a free port has always been its infrastructure—its harbor and its airport—an advantage the central government is now trying desperately to erase. The endgame, as far as anyone can tell, is to supplant Hong Kong. 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.
More than slot machines, the casinos aspire to export a distinctly American brand of hedonism— chaste but chasing a glint of danger, fueled by equal parts shopping, eating, relaxing, and gambling, in that order. (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. As a man in good standing with Beijing, Sit pressed their plan on party leaders, who nodded their approval and then were never heard from again.
Currency Wars: The Making of the Next Gobal Crisis by James Rickards
Asian financial crisis, bank run, Benoit Mandelbrot, Berlin Wall, Big bang: deregulation of the City of London, Black Swan, borderless world, Bretton Woods, BRICs, British Empire, business climate, capital controls, Carmen Reinhart, Cass Sunstein, collateralized debt obligation, complexity theory, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, currency manipulation / currency intervention, currency peg, Daniel Kahneman / Amos Tversky, Deng Xiaoping, diversification, diversified portfolio, 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, high net worth, income inequality, interest rate derivative, Kenneth Rogoff, labour mobility, laissez-faire capitalism, liquidity trap, Long Term Capital Management, mandelbrot fractal, margin call, market bubble, Mexican peso crisis / tequila crisis, money: store of value / unit of account / medium of exchange, Network effects, New Journalism, Nixon shock, offshore financial centre, oil shock, open economy, paradox of thrift, price mechanism, price stability, private sector deleveraging, quantitative easing, race to the bottom, RAND corporation, rent-seeking, reserve currency, Ronald Reagan, sovereign wealth fund, special drawing rights, special economic zone, 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, War on Poverty, Washington Consensus
Mao’s designated successor, Hua Guofeng, carried forward Zhou’s vision and made a definitive break with the Maoist past at a National Party Congress in December 1978. 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. Although China grew rapidly in percentage terms in the mid-1980s, it was working from a low base and neither its currency nor its bilateral trade relations with major countries such as the United States and Germany gave much cause for concern.
With memories of Tiananmen fresh in their minds and the historical memory of over a century of chaos, the leadership knew the survival of the Communist Party and the continuation of political stability depended on job creation; everything else in Chinese policy would be subordinate to that goal. 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. The 1992 Southern Tour marked a second-stage takeoff in Chinese economic growth, with real GDP more than doubling from 1992 to 2000.
The Sushi Economy: Globalization and the Making of a Modern Delicacy by Sasha Issenberg
air freight, Akira Okazaki, anti-communist, barriers to entry, Bretton Woods, call centre, Deng Xiaoping, global supply chain, haute cuisine, means of production, Nixon shock, Saturday Night Live, Silicon Valley, special economic zone, telemarketer, trade route, urban renewal
PART FOUR The Future Economy Eleven DALIAN, CHINA Port of Call A Japanese mogul plots to take the world’s last sushi frontier Takamasa Ueno, a young sushi chef from northern Japan, made his first trip to China in 1986, when a friend from his hometown of Sendai opened a yakiniku restaurant in Dalian, a highly trafficked port city on the Yellow Sea. 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!”
Earth Wars: The Battle for Global Resources by Geoff Hiscock
Admiral Zheng, Asian financial crisis, Bakken shale, Bernie Madoff, BRICs, butterfly effect, clean water, cleantech, corporate governance, demographic dividend, Deng Xiaoping, Edward Lorenz: Chaos theory, energy security, energy transition, eurozone crisis, Exxon Valdez, flex fuel, global rebalancing, global supply chain, hydraulic fracturing, Long Term Capital Management, Malacca Straits, Masdar, megacity, Menlo Park, Mohammed Bouazizi, new economy, oil shale / tar sands, oil shock, Panamax, purchasing power parity, Ralph Waldo Emerson, RAND corporation, Shenzhen was a fishing village, Silicon Valley, smart grid, South China Sea, sovereign wealth fund, special economic zone, spice trade, trade route, uranium enrichment, urban decay, working-age population, Yom Kippur War
They dropped pieces of wood in the water directly in front of Impeccable’s path. 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.
Even in this difficult environment, Japan remained the world’s second-largest economy until 2010; its domestic demand, its science and technology, its proven manufacturing expertise—including its ability to establish world-class plants offshore—its trading networks and its intellectual and financial capital ensured its continued importance in global business circles. 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.
affirmative action, Asian financial crisis, bank run, banking crisis, bilateral investment treaty, borderless world, Bretton Woods, British Empire, capital controls, Carmen Reinhart, central bank independence, 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, eurozone crisis, 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, joint-stock company, Kenneth Rogoff, labour market flexibility, labour mobility, land reform, Long Term Capital Management, low skilled workers, margin call, market bubble, market fundamentalism, Martin Wolf, Mexican peso crisis / tequila crisis, microcredit, Monroe Doctrine, moral hazard, night-watchman state, non-tariff barriers, offshore financial centre, oil shock, open borders, open economy, price stability, profit maximization, race to the bottom, regulatory arbitrage, savings glut, Silicon Valley, special drawing rights, special economic zone, 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. What fueled China’s growth, along with these institutional innovations, was a dramatic productive transformation.
It makes dollars plentiful and their price low, reducing the competitiveness of domestic industries on global markets.31 In a second-best world, increasing transaction costs on international finance may make sense. 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).
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, failed state, four colour theorem, illegal immigration, informal economy, kremlinology, land reform, means of production, Mikhail Gorbachev, Potemkin village, profit motive, RAND corporation, Ronald Reagan, special economic zone, stakhanovite, UNCLOS, upwardly mobile, uranium enrichment, women in the workforce
Those questions were to be taken up at further international meetings later that year in Beijing and Vladivostok. 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. Rajin and Sonbong port officials planned to expand cargo capacity from six million to 50 million tons a year in two stages—and also planned to build a brand new port in the area with annual capacity of another 50 million tons.
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. During our 1992 visit, unless they-were asked specifically, they mercifully refrained from spouting the interminable old lines about how the Great or Dear Leader provided this or that factory of school out of love for the people, blah blah blah.
But on September 5, 1998, the Supreme People’s Assembly adopted a new constitution for the Democratic People’s Republic of Korea. Its third chapter covered the economy. 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. He told me in 2000 that North Korean leaders apparently had no objective beyond repairs to their economic system.
The Age of Turbulence: Adventures in a New World (Hardback) - Common by Alan Greenspan
air freight, airline deregulation, Albert Einstein, asset-backed security, bank run, Berlin Wall, Bretton Woods, business process, call centre, capital controls, central bank independence, collateralized debt obligation, collective bargaining, conceptual framework, Corn Laws, corporate governance, correlation coefficient, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, cuban missile crisis, currency peg, 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, Hernando de Soto, income inequality, income per capita, invisible hand, Joseph Schumpeter, labor-force participation, labour market flexibility, laissez-faire capitalism, land reform, Long Term Capital Management, Mahatma Gandhi, manufacturing employment, market bubble, means of production, Mikhail Gorbachev, moral hazard, mortgage debt, new economy, North Sea oil, oil shock, open economy, pets.com, Potemkin village, price mechanism, price stability, Productivity paradox, profit maximization, purchasing power parity, random walk, reserve currency, risk tolerance, Ronald Reagan, shareholder value, short selling, Silicon Valley, special economic zone, the payments system, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, total factor productivity, trade liberalization, trade route, transaction costs, transcontinental railway, urban renewal, working-age population, Y2K
China, instead of replacing Hong Kong's culture and economy with its Communist imprint, has found itself increasingly influenced by the culture and economic rules of Hong Kong. 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. Per capita GDP of much of East Asia was not far above levels of subsistence.
., 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.
conceptual framework, crony capitalism, currency manipulation / currency intervention, David Brooks, Deng Xiaoping, East Village, financial independence, Gini coefficient, income inequality, indoor plumbing, land reform, Lao Tzu, low skilled workers, market fundamentalism, Mohammed Bouazizi, Plutocrats, plutocrats, rolodex, Silicon Valley, South China Sea, sovereign wealth fund, special economic zone, Steve Jobs, transcontinental railway, Washington Consensus, Xiaogang Anhui farmers, young professional
But during the Cultural Revolution, his wife, the director of a kindergarten, was labeled a “capitalist roader” because her father had been a general in the Nationalist Army; Red Guards shaved half of her head. 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. With few exceptions, only the Public Security Bureau could change your household registration, or hukou.
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!
3D printing, A Pattern Language, additive manufacturing, air freight, Airbnb, augmented reality, autonomous vehicles, barriers to entry, Baxter: Rethink Robotics, c2.com, computer vision, crowdsourcing, dumpster diving, en.wikipedia.org, Firefox, future of work, Google Chrome, Google Glasses, Google Hangouts, Hacker Ethic, Internet of things, Iridium satellite, Khan Academy, Kickstarter, Mason jar, means of production, Minecraft, minimum viable product, Network effects, Oculus Rift, patent troll, popular electronics, Rodney Brooks, Shenzhen was a fishing village, side project, Silicon Valley, Skype, slashdot, social software, software as a service, special economic zone, speech recognition, subscription business, telerobotics, urban planning, web application, Y Combinator
We wired them the money, and it was probably— gosh, it was probably $25,000 or something exorbitant to their bank account. And then we had to send them the chips for the Pis. But you can’t send chips to mainland China because there’s an import duty, so the way you get chips into China is to use a shipment point in Hong Kong. You take them across the border from Hong Kong into Shenzhen. That’s a special transaction, because Shenzhen is still a special economic zone. And so we had to send these chips, 159 160 Chapter 12 | Eben Upton: Founder, Raspberry Pi Foundation $25,000 worth of chips, to these guys at their trans-shipment point. And their trans-shipment point was an apartment. It was an apartment building. We sent $25,000 worth of chips to these guys at their apartment. I was kind of like, “Ehhh, $25,000 just blown away,” you know? And then there were delays, which made us worried that things had gone wrong.
I’ve been in cities with big electronics markets like Tokyo and Seoul, and the difference between what I see here and anywhere else is that this place is built to do business. This place is built to get things done. Thirty years ago, there was no Shenzhen. It was a little fishing village just across the border from Hong Kong. Now it’s a city of ten to twenty million people, depending on how you count it. And this has all grown up around the Special Economic Zone that China designated for manufacturing. It’s a very, very special place. There’s nowhere else in China like this. It’s built to do business. Osborn: So Shenzhen became the city that it is by design? Lesnet: Yes, that was by design. It really is. It’s such a special place. It has a vibe unlike anywhere else in China. It’s not just, “Get the business done.” Everyone here is so young. It’s like London during the industrial revolution or New York in the 1800s.
A Line in the Tar Sands: Struggles for Environmental Justice by Tony Weis, Joshua Kahn Russell
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, global village, guest worker program, happiness index / gross national happiness, hydraulic fracturing, immigration reform, investor state dispute settlement, invisible hand, LNG terminal, market fundamentalism, means of production, Naomi Klein, new economy, Occupy movement, oil shale / tar sands, peak oil, profit maximization, race to the bottom, smart grid, special economic zone, 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.
Overdressed: The Shockingly High Cost of Cheap Fashion by Elizabeth L. Cline
big-box store, clean water, East Village, feminist movement, income inequality, informal economy, Maui Hawaii, McMansion, megacity, race to the bottom, Skype, special economic zone, trade liberalization, Triangle Shirtwaist Factory, upwardly mobile
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. Cheap Chinese clothes, electronics, toys, and everything else imaginable started to flow into the United States out of Shenzhen.
Progress: Ten Reasons to Look Forward to the Future by Johan Norberg
agricultural Revolution, anti-communist, availability heuristic, Bartolomé de las Casas, Berlin Wall, British Empire, business climate, clean water, Daniel Kahneman / Amos Tversky, demographic transition, desegregation, Donald Trump, Flynn Effect, germ theory of disease, Gini coefficient, 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, meta-analysis, Mikhail Gorbachev, more computing power than Apollo, moveable type in China, Naomi Klein, open economy, place-making, Rosa Parks, special economic zone, Steven Pinker, telerobotics, The Wealth of Nations by Adam Smith, transatlantic slave trade, very high income, working poor, Xiaogang Anhui farmers
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. Although better wages inspired workers to move to the new industrial towns, this created new problems.
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, demographic transition, Deng Xiaoping, Eratosthenes, financial innovation, food miles, Haber-Bosch Process, invisible hand, James Watt: steam engine, 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
As agriculture became more productive, rural workers were able to move into other areas, starting with food processing and distribution, and gradually expanding into other industries and services. 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. Instead, India’s main concern was agricultural self-sufficiency, and to this end the agricultural sector was tightly regulated and controlled by the government, with price controls, restrictions on the movement of agricultural goods within the country, and barriers that served to discourage foreign trade.
Vanished Kingdoms: The Rise and Fall of States and Nations by Norman Davies
anti-communist, Berlin Wall, British Empire, Celtic Tiger, Corn Laws, en.wikipedia.org, energy security, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, labour mobility, land tenure, Mikhail Gorbachev, oil rush, oil shale / tar sands, Red Clydeside, Ronald Reagan, Skype, special economic zone, trade route, urban renewal
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.
The best introduction in English would be Karin Friedrich, The Other Prussia: Royal Prussia, Poland and Liberty, 1569–1772 (Cambridge, 2000). 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). Massive protests were staged in Kaliningrad in February 2010 against continuing economic hardships. 7.
Admiral Zheng, Asian financial crisis, Berlin Wall, Bretton Woods, BRICs, British Empire, 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, Francis Fukuyama: the end of history, global reserve currency, global supply chain, illegal immigration, income per capita, invention of gunpowder, James Watt: steam engine, joint-stock company, Kenneth Rogoff, land reform, land tenure, Malacca Straits, Martin Wolf, Naomi Klein, new economy, New Urbanism, open economy, 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, Xiaogang Anhui farmers
In addition it had been isolated, a condition partly self-imposed and partly a result of an American embargo (involving a total ban on all transactions with China until 1971), plus the withdrawal of all Soviet aid and personnel in 1959. 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. Such down-to-earth pragmatism stood in sharp contrast to the grand ideological flourishes that informed the Cultural Revolution era and the Maoist period more generally.
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
Extreme Money: Masters of the Universe and the Cult of Risk by Satyajit Das
affirmative action, Albert Einstein, algorithmic trading, Andy Kessler, Asian financial crisis, asset allocation, asset-backed security, bank run, banking crisis, banks create money, Basel III, Benoit Mandelbrot, Berlin Wall, Bernie Madoff, Big bang: deregulation of the City of London, Black Swan, Bonfire of the Vanities, bonus culture, Bretton Woods, BRICs, British Empire, capital asset pricing model, Carmen Reinhart, carried interest, Celtic Tiger, clean water, cognitive dissonance, collapse of Lehman Brothers, collateralized debt obligation, corporate governance, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, Daniel Kahneman / Amos Tversky, debt deflation, Deng Xiaoping, deskilling, discrete time, diversification, diversified portfolio, Doomsday Clock, Emanuel Derman, en.wikipedia.org, Eugene Fama: efficient market hypothesis, eurozone crisis, Fall of the Berlin Wall, financial independence, financial innovation, fixed income, full employment, global reserve currency, Goldman Sachs: Vampire Squid, Gordon Gekko, greed is good, happiness index / gross national happiness, haute cuisine, high net worth, Hyman Minsky, index fund, interest rate swap, invention of the wheel, invisible hand, Isaac Newton, job automation, Johann Wolfgang von Goethe, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, Kevin Kelly, labour market flexibility, laissez-faire capitalism, load shedding, locking in a profit, Long Term Capital Management, Louis Bachelier, margin call, market bubble, market fundamentalism, Marshall McLuhan, Martin Wolf, merger arbitrage, Mikhail Gorbachev, Milgram experiment, Mont Pelerin Society, moral hazard, mortgage debt, mortgage tax deduction, mutually assured destruction, Naomi Klein, Network effects, new economy, Nick Leeson, Nixon shock, Northern Rock, nuclear winter, oil shock, Own Your Own Home, pets.com, Plutocrats, plutocrats, Ponzi scheme, price anchoring, price stability, profit maximization, quantitative easing, quantitative trading / quantitative ﬁnance, Ralph Nader, RAND corporation, random walk, Ray Kurzweil, regulatory arbitrage, rent control, rent-seeking, reserve currency, Richard Feynman, Richard Feynman, Richard Thaler, risk-adjusted returns, risk/return, road to serfdom, Robert Shiller, Robert Shiller, Rod Stewart played at Stephen Schwarzman birthday party, rolodex, Ronald Reagan, Ronald Reagan: Tear down this wall, savings glut, shareholder value, Sharpe ratio, short selling, Silicon Valley, six sigma, Slavoj Žižek, South Sea Bubble, special economic zone, statistical model, Stephen Hawking, Steve Jobs, 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 Predators' Ball, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, trickle-down economics, Turing test, Upton Sinclair, value at risk, Yogi Berra, zero-coupon bond
Robert Hart, nineteenth-century British trade commissioner for China, once wrote: “[The] Chinese have the best food in the world, rice; the best drink, tea; and the best clothing; cotton, silk, fur. 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.
Imagining India by Nandan Nilekani
affirmative action, BRICs, British Empire, business process, business process outsourcing, call centre, clean water, colonial rule, corporate governance, cuban missile crisis, deindustrialization, demographic dividend, demographic transition, Deng Xiaoping, distributed generation, farmers can use mobile phones to check market prices, full employment, ghettoisation, glass ceiling, global supply chain, Hernando de Soto, income inequality, informal economy, joint-stock company, knowledge economy, labour market flexibility, land reform, LNG terminal, load shedding, Mahatma Gandhi, market fragmentation, Mikhail Gorbachev, Network effects, new economy, New Urbanism, open economy, pension reform, Potemkin village, price mechanism, 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, 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. Land laws in India are a bureaucratic sinkhole—registering the sale deed of a property in India, for example, certifies only the transfer of land, and not a change in ownership.
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.
Stealth of Nations by Robert Neuwirth
accounting loophole / creative accounting, big-box store, British Empire, call centre, collective bargaining, corporate governance, full employment, Hernando de Soto, illegal immigration, income inequality, informal economy, invisible hand, Jane Jacobs, jitney, joint-stock company, Joseph Schumpeter, megacity, microcredit, New Urbanism, pirate software, profit motive, Shenzhen was a fishing village, Simon Kuznets, special economic zone, The Wealth of Nations by Adam Smith, thinkpad, upwardly mobile
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.) Most of its residents are migrants from the north, and this has led to another massive change.
Visit Sunny Chernobyl: And Other Adventures in the World's Most Polluted Places by Andrew Blackwell
carbon footprint, clean water, Google Earth, gravity well, oil rush, oil shale / tar sands, place-making, ride hailing / ride sharing, sensible shoes, 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. From waste recycling to questionable industrial processes to simple carbon emissions, Guangdong is a land to which we outsource not only our manufacturing but also our pollution.
Adapt: Why Success Always Starts With Failure by Tim Harford
Andrew Wiles, banking crisis, Basel III, Berlin Wall, Bernie Madoff, Black Swan, car-free, carbon footprint, Cass Sunstein, charter city, Clayton Christensen, clean water, cloud computing, cognitive dissonance, complexity theory, corporate governance, correlation does not imply causation, credit crunch, Credit Default Swap, crowdsourcing, cuban missile crisis, Daniel Kahneman / Amos Tversky, Dava Sobel, Deep Water Horizon, Deng Xiaoping, double entry bookkeeping, Edmond Halley, en.wikipedia.org, Erik Brynjolfsson, experimental subject, Fall of the Berlin Wall, Fermat's Last Theorem, Firefox, food miles, Gerolamo Cardano, global supply chain, Isaac Newton, Jane Jacobs, Jarndyce and Jarndyce, Jarndyce and Jarndyce, John Harrison: Longitude, knowledge worker, loose coupling, Martin Wolf, 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, special economic zone, spectrum auction, Steve Jobs, supply-chain management, the market place, The Wisdom of Crowds, too big to fail, trade route, Tyler Cowen: Great Stagnation, web application, X Prize
There is plenty of evidence that charter cities could work in today’s world. 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. We know it is physically possible to put together impressive infrastructure in a short space of time.
The Global Minotaur by Yanis Varoufakis, Paul Mason
banking crisis, Berlin Wall, Big bang: deregulation of the City of London, Bretton Woods, business climate, capital controls, Carmen Reinhart, central bank independence, collapse of Lehman Brothers, collateralized debt obligation, colonial rule, corporate governance, correlation coefficient, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, debt deflation, declining real wages, deindustrialization, eurozone crisis, financial innovation, first-past-the-post, full employment, Hyman Minsky, industrial robot, Joseph Schumpeter, Kenneth Rogoff, labour market flexibility, liquidity trap, London Interbank Offered Rate, Long Term Capital Management, market fundamentalism, Mexican peso crisis / tequila crisis, mortgage debt, new economy, Northern Rock, paper trading, planetary scale, post-oil, price stability, quantitative easing, reserve currency, rising living standards, Ronald Reagan, special economic zone, Steve Jobs, structural adjustment programs, systematic trading, too big to fail, trickle-down economics, urban renewal, War on Poverty, Yom Kippur War
Nevertheless, neither the nature of China’s rise nor its future impact can be understood without a good grasp of the world as shaped by the Global Minotaur. 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. As for China’s global positioning, it would resemble that of South East Asia, in seeking sources of demand for its export-led growth from the United States and Europe.
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, special economic zone, transatlantic slave trade, transatlantic slave trade, women in the workforce
CHAPTER TWELVE The Axis of Equality A woman has so many parts to her body, life is very hard indeed. —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. The company went bankrupt within a year. Zhang Yin then started her own company in Hong Kong, buying scrap paper there and shipping it to firms throughout China.
The Industries of the Future by Alec Ross
23andMe, 3D printing, Airbnb, algorithmic trading, AltaVista, Anne Wojcicki, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, bioinformatics, bitcoin, blockchain, Brian Krebs, British Empire, business intelligence, call centre, carbon footprint, cloud computing, collaborative consumption, connected car, corporate governance, Credit Default Swap, cryptocurrency, David Brooks, disintermediation, Dissolution of the Soviet Union, distributed ledger, Edward Glaeser, Edward Snowden, en.wikipedia.org, Erik Brynjolfsson, fiat currency, future of work, global supply chain, Google X / Alphabet X, industrial robot, Internet of things, invention of the printing press, Jaron Lanier, Jeff Bezos, job automation, knowledge economy, knowledge worker, litecoin, M-Pesa, Mark Zuckerberg, Mikhail Gorbachev, mobile money, money: store of value / unit of account / medium of exchange, new economy, offshore financial centre, open economy, peer-to-peer lending, personalized medicine, Peter Thiel, precision agriculture, pre–internet, RAND corporation, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, Satoshi Nakamoto, 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, underbanked, Vernor Vinge, Watson beat the top human players on Jeopardy!, women in the workforce, 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.
Lonely Planet China (Travel Guide) by Lonely Planet, Shawn Low
Albert Einstein, anti-communist, bike sharing scheme, call centre, carbon footprint, clean water, colonial rule, credit crunch, Deng Xiaoping, haute couture, haute cuisine, income inequality, indoor plumbing, land reform, place-making, 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
You can flag passing taxis at Tiger Mountain Great Wall (3km away) to ride up to the dock for ¥5. 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. Explore North Korea (www.explorenorthkorea.com) Dandong-based agency. Koryo Tours (www.koryogroup.com) Large, long-running Beijing-based agency.
From there, board bus 22 and get off at Xihe bus station (Xihe qichezhan %875 4176; Gongye Donglu). 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). US citizens must buy a visa in advance in Macau or Hong Kong.
More recently, China’s first communist cell was formed here in the 1920s, and the island was heavily bombarded and then occupied by the Japanese during WWII. 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. THE LI & MIAO There are some 39 ethnic groups on Hainan, of which four are the main minorities.
Admiral Zheng, agricultural Revolution, Albert Einstein, anti-communist, Arthur Eddington, Atahualpa, Berlin Wall, British Empire, Columbian Exchange, conceptual framework, cuban missile crisis, defense in depth, demographic transition, Deng Xiaoping, discovery of the americas, Doomsday Clock, en.wikipedia.org, falling living standards, Flynn Effect, Francisco Pizarro, global village, hiring and firing, indoor plumbing, invention of agriculture, Isaac Newton, James Watt: steam engine, knowledge economy, market bubble, Menlo Park, Mikhail Gorbachev, 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, Silicon Valley, Sinatra Doctrine, South China Sea, special economic zone, Steve Jobs, Steve Wozniak, Steven Pinker, strong AI, 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
Every experience suggested that given peace and a united government—both largely lacking since the 1840s—China, too, could prosper within the Western-dominated global economy, but Deng went further still, actively pushing China toward integration. 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.
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, illegal immigration, Internet Archive, John Snow's cholera map, Khyber Pass, manufacturing employment, megacity, Mercator projection, out of africa, RAND corporation, risk tolerance, Ronald Reagan, 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. Even Taiwanese enterprises could operate here, though under certain restrictions.
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, clean water, collective bargaining, colonial rule, conceptual framework, Copley Medal, corporate governance, credit crunch, David Ricardo: comparative advantage, Dean Kamen, delayed gratification, Deng Xiaoping, discovery of the americas, Dissolution of the Soviet Union, European colonialism, Fall of the Berlin Wall, Francisco Pizarro, full employment, 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, land reform, land tenure, Louis Pasteur, Mahatma Gandhi, market bubble, Martin Wolf, means of production, megacity, Mikhail Gorbachev, new economy, probability theory / Blaise Pascal / Pierre de Fermat, profit maximization, purchasing power parity, quantitative easing, rent-seeking, reserve currency, 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, 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, transatlantic slave trade, upwardly mobile, uranium enrichment, wage slave, Washington Consensus, women in the workforce, World Values Survey
In the pursuit of strict equality everyone was issued with what looked very much like pyjamas. Grey ones. 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. Or is it? Istanbul is a cosmopolitan city, where the outward trappings of Western civilization have long been commonplace in the streets.
The World in 2050: Four Forces Shaping Civilization's Northern Future by Laurence C. Smith
Bretton Woods, BRICs, clean water, Climategate, colonial rule, deglobalization, demographic transition, Deng Xiaoping, energy security, flex fuel, global supply chain, Google Earth, guest worker program, Hans Island, hydrogen economy, ice-free Arctic, informal economy, invention of agriculture, invisible hand, land tenure, Martin Wolf, megacity, Mikhail Gorbachev, New Urbanism, oil shale / tar sands, oil shock, peak oil, purchasing power parity, Ronald Reagan, Ronald Reagan: Tear down this wall, side project, Silicon Valley, smart grid, sovereign wealth fund, special economic zone, The Wealth of Nations by Adam Smith, Thomas Malthus, trade liberalization, trade route, UNCLOS, UNCLOS, urban planning, Washington Consensus, Y2K
In developed countries and the European Union, service-sector jobs capture a whopping 73% of all employment. In contrast, they capture just 28% in sub-Saharan Africa. P. 330 and Table 11.2, P. 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.
Arrival City by Doug Saunders
agricultural Revolution, Ayatollah Khomeini, Berlin Wall, Branko Milanovic, call centre, credit crunch, Deng Xiaoping, desegregation, 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, megacity, microcredit, new economy, 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
.§ Fei and Zhan have no hope of getting one. Their future, and their family, will have to take place somewhere else. 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. It spawned a thriving middle class, a leading high-tech sector, and one of the best universities in China.
Factory Girls: From Village to City in a Changing China by Leslie T. Chang
In the autumn of 1978, the Taiping Handbag Factory of Hong Kong opened the first foreign factory in Dongguan. 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. Dongguan was different.
What Should I Do With My Life? by Po Bronson
back-to-the-land, Berlin Wall, clean water, double entry bookkeeping, Exxon Valdez, financial independence, high net worth, job satisfaction, Menlo Park, microcredit, new economy, Silicon Valley, South of Market, San Francisco, special economic zone, telemarketer, traffic fines, young professional
Deni was turning dust into oil, turning land into power, and turning nickels into dollars. 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. Too good to be true. More white man’s magic. So where do all these dollars go? Back into education.
The Great Surge: The Ascent of the Developing World by Steven Radelet
Admiral Zheng, agricultural Revolution, Asian financial crisis, bank run, Berlin Wall, Branko Milanovic, business climate, business process, call centre, Capital in the Twenty-First Century by Thomas Piketty, clean water, colonial rule, demographic dividend, Deng Xiaoping, Dissolution of the Soviet Union, Doha Development Round, Erik Brynjolfsson, European colonialism, F. W. de Klerk, failed state, Francis Fukuyama: the end of history, Gini coefficient, global supply chain, income inequality, income per capita, invention of the steam engine, James Watt: steam engine, John Snow's cholera map, Joseph Schumpeter, land reform, low skilled workers, M-Pesa, megacity, Mikhail Gorbachev, oil shock, out of africa, purchasing power parity, race to the bottom, randomized controlled trial, Robert Gordon, Second Machine Age, secular stagnation, Simon Kuznets, South China Sea, special economic zone, Steven Pinker, The Wealth of Nations by Adam Smith, Thomas Malthus, trade route, women in the workforce, working poor
His best student, a young woman named Wang Huan, came from the neighboring county of Ning Xiang. 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. She was one of the few students to pass a rigorous postgraduate entrance examination, and was admitted to Xi’an International Studies University to study linguistics.
Age of Discovery: Navigating the Risks and Rewards of Our New Renaissance by Ian Goldin, Chris Kutarna
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, Berlin Wall, bioinformatics, bitcoin, Bonfire of the Vanities, clean water, collective bargaining, Colonization of Mars, Credit Default Swap, crowdsourcing, cryptocurrency, Dava Sobel, demographic dividend, Deng Xiaoping, Doha Development Round, double helix, Edward Snowden, Elon Musk, en.wikipedia.org, epigenetics, experimental economics, failed state, Fall of the Berlin Wall, financial innovation, full employment, Galaxy Zoo, global supply chain, Hyperloop, immigration reform, income inequality, indoor plumbing, industrial robot, information retrieval, intermodal, Internet of things, invention of the printing press, Isaac Newton, Islamic Golden Age, Khan Academy, Kickstarter, labour market flexibility, low cost carrier, low skilled workers, Lyft, Malacca Straits, megacity, Mikhail Gorbachev, moral hazard, Network effects, New Urbanism, non-tariff barriers, Occupy movement, On the Revolutions of the Heavenly Spheres, open economy, Panamax, personalized medicine, Peter Thiel, post-Panamax, profit motive, rent-seeking, reshoring, Robert Gordon, 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, TaskRabbit, too big to fail, trade liberalization, trade route, transaction costs, transatlantic slave trade, 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.
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, illegal immigration, Khyber Pass, laissez-faire capitalism, offshore financial centre, sensible shoes, South China Sea, special economic zone, the market place
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.
air freight, banking crisis, big-box store, blood diamonds, Bretton Woods, California gold rush, carbon footprint, clean water, Community Supported Agriculture, dematerialisation, employer provided health coverage, energy security, European colonialism, Firefox, Food sovereignty, Ford paid five dollars a day, full employment, global supply chain, income inequality, Indoor air pollution, intermodal, Jeff Bezos, job satisfaction, McMansion, new economy, oil shale / tar sands, peak oil, Ralph Nader, renewable energy credits, Silicon Valley, special economic zone, supply-chain management, the built environment, trade liberalization, trickle-down economics, union organizing, Wall-E, Whole Earth Review, Zipcar
In fact, about one-fifth of the global footprint of cotton consumption is related to pollution from wastewater from fields and factories.26 At last my T-shirt is ready to be born, and the finished cotton fabric is shipped off to the factory where this will happen. 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. Child labor, though officially outlawed pretty much everywhere, still exists in shadowy pockets, most often employed when deadlines are tight.
The Relentless Revolution: A History of Capitalism by Joyce Appleby
1919 Motor Transport Corps convoy, agricultural Revolution, anti-communist, Asian financial crisis, asset-backed security, Bartolomé de las Casas, Bernie Madoff, Bretton Woods, BRICs, British Empire, call centre, collateralized debt obligation, collective bargaining, Columbian Exchange, corporate governance, 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, Ford paid five dollars a day, Francisco Pizarro, Frederick Winslow Taylor, full employment, Gordon Gekko, 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, 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, joint-stock company, Joseph Schumpeter, knowledge economy, land reform, Livingstone, I presume, Long Term Capital Management, Mahatma Gandhi, Martin Wolf, moral hazard, Ponzi scheme, profit maximization, profit motive, race to the bottom, Ralph Nader, refrigerator car, Ronald Reagan, Scramble for Africa, Silicon Valley, Silicon Valley startup, South China Sea, South Sea Bubble, special economic zone, spice trade, spinning jenny, strikebreaker, the built environment, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thorstein Veblen, total factor productivity, trade route, transatlantic slave trade, transatlantic slave trade, transcontinental railway, union organizing, Unsafe at Any Speed, Upton Sinclair, urban renewal, 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.
This Changes Everything: Capitalism vs. The Climate by Naomi Klein
1960s counterculture, battle of ideas, Berlin Wall, big-box store, bilateral investment treaty, British Empire, business climate, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, clean water, Climategate, cognitive dissonance, colonial rule, Community Supported Agriculture, complexity theory, crony capitalism, decarbonisation, deindustrialization, dematerialisation, Donald Trump, Downton Abbey, energy security, energy transition, equal pay for equal work, Exxon Valdez, failed state, Fall of the Berlin Wall, feminist movement, financial deregulation, food miles, Food sovereignty, global supply chain, hydraulic fracturing, ice-free Arctic, immigration reform, income per capita, Internet Archive, invention of the steam engine, invisible hand, Isaac Newton, James Watt: steam engine, market fundamentalism, moral hazard, Naomi Klein, new economy, Nixon shock, Occupy movement, offshore financial centre, oil shale / tar sands, open borders, patent troll, planetary scale, post-oil, profit motive, quantitative easing, race to the bottom, Ralph Waldo Emerson, Rana Plaza, Ronald Reagan, smart grid, special economic zone, Stephen Hawking, Stewart Brand, structural adjustment programs, Ted Kaczynski, the scientific method, The Wealth of Nations by Adam Smith, trade route, transatlantic slave trade, transatlantic slave trade, trickle-down economics, Upton Sinclair, uranium enrichment, urban planning, urban sprawl, wages for housework, walkable city, Washington Consensus, Whole Earth Catalog, WikiLeaks
40 This argument is made as if we in the West are mere spectators to this reckless and dirty model of economic growth. 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.
The Rise of the Network Society by Manuel Castells
Apple II, Asian financial crisis, barriers to entry, Big bang: deregulation of the City of London, borderless world, British Empire, capital controls, complexity theory, computer age, Credit Default Swap, declining real wages, deindustrialization, delayed gratification, dematerialisation, deskilling, disintermediation, double helix, Douglas Engelbart, edge city, experimental subject, financial deregulation, financial independence, floating exchange rates, future of work, global village, Hacker Ethic, hiring and firing, Howard Rheingold, illegal immigration, income inequality, industrial robot, informal economy, information retrieval, intermodal, invention of the steam engine, invention of the telephone, inventory management, James Watt: steam engine, job automation, job-hopping, knowledge economy, knowledge worker, labor-force participation, labour market flexibility, labour mobility, laissez-faire capitalism, low skilled workers, manufacturing employment, Marshall McLuhan, means of production, megacity, Menlo Park, new economy, New Urbanism, offshore financial centre, oil shock, open economy, packet switching, planetary scale, popular electronics, post-industrial society, postindustrial economy, prediction markets, Productivity paradox, profit maximization, purchasing power parity, RAND corporation, Robert Gordon, 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, Ted Nelson, the built environment, the medium is the message, 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
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.
Affordable Care Act / Obamacare, Andrei Shleifer, Asian financial crisis, Atahualpa, banking crisis, barriers to entry, Berlin Wall, blood diamonds, British Empire, centre right, clean water, collapse of Lehman Brothers, colonial rule, conceptual framework, crony capitalism, deindustrialization, Deng Xiaoping, 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, Hernando de Soto, Home mortgage interest deduction, income inequality, invention of the printing press, iterative process, knowledge worker, land reform, land tenure, life extension, low skilled workers, manufacturing employment, means of production, Menlo Park, Mohammed Bouazizi, Monroe Doctrine, moral hazard, new economy, open economy, out of africa, Peace of Westphalia, Port of Oakland, post-industrial society, Post-materialism, post-materialism, price discrimination, quantitative easing, RAND corporation, rent-seeking, road to serfdom, Ronald Reagan, Scientific racism, Scramble for Africa, Second Machine Age, Silicon Valley, special economic zone, stem cell, the scientific method, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, too big to fail, trade route, transaction costs, Tyler Cowen: Great Stagnation, women in the workforce, World Values Survey
This is evident in the first instance in the large delegations of authority to China’s provinces and municipalities to implement policies in a manner that suits local conditions. 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. As political scientist Jean Oi has documented, the early gains were accomplished not by the private sector but by so-called township and village enterprises (TVEs), in which local governments essentially turned themselves into profit-making businesses.10 One of the fundamental tenets of Western public administration is that public-sector agencies are not allowed to retain earnings and thus have no incentive to control costs or perform more efficiently.
Commodore: A Company on the Edge by Brian Bagnall
Apple II, Bill Gates: Altair 8800, Byte Shop, Claude Shannon: information theory, computer age, Douglas Engelbart, Firefox, game design, index card, inventory management, Isaac Newton, low skilled workers, Menlo Park, packet switching, pink-collar, popular electronics, prediction markets, pre–internet, QWERTY keyboard, Robert X Cringely, Silicon Valley, special economic zone, Steve Jobs, Steve Wozniak, Ted Nelson
“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.
The Making of Global Capitalism by Leo Panitch, Sam Gindin
accounting loophole / creative accounting, airline deregulation, anti-communist, Asian financial crisis, asset-backed security, bank run, banking crisis, barriers to entry, Basel III, Big bang: deregulation of the City of London, bilateral investment treaty, Branko Milanovic, Bretton Woods, BRICs, British Empire, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, central bank independence, collective bargaining, continuous integration, corporate governance, Credit Default Swap, crony capitalism, currency manipulation / currency intervention, currency peg, dark matter, 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, full employment, Gini coefficient, global value chain, guest worker program, Hyman Minsky, imperial preference, income inequality, inflation targeting, interchangeable parts, interest rate swap, Kenneth Rogoff, land reform, late capitalism, liquidity trap, London Interbank Offered Rate, Long Term Capital Management, manufacturing employment, market bubble, market fundamentalism, Martin Wolf, means of production, money: store of value / unit of account / medium of exchange, Monroe Doctrine, moral hazard, mortgage debt, mortgage tax deduction, new economy, non-tariff barriers, Northern Rock, oil shock, precariat, price stability, quantitative easing, Ralph Nader, RAND corporation, regulatory arbitrage, reserve currency, risk tolerance, Ronald Reagan, seigniorage, shareholder value, short selling, Silicon Valley, sovereign wealth fund, special drawing rights, special economic zone, structural adjustment programs, 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, very high income, Washington Consensus, Works Progress Administration, zero-coupon bond
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.