informal privatization through internationalization.pdf

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1、InformalPrivatizationthroughInternationalization:TheRiseofNomenklaturaCapitalisminChina'sOffshoreBusinessesAuthor(s):X.L.DingSource:BritishJournalofPoliticalScience,Vol.30,No.1(Jan.,2000),pp.121-146Publishedby:CambridgeUniversityPressStableURL:http://www.jstor.or

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4、ize,preserveandextendaccesstoBritishJournalofPoliticalScience.http://www.jstor.orgB.J.Pol.S.30,121-146Copyright?2000CambridgeUniversityPressPrintedintheUnitedKingdomInformalPrivatizationThroughInternationalization:TheRiseofNomenklaturaCapitalisminChina'sOffshoreB

5、usinessesX.L.DING*China'sremarkablebusinessexpansionabroadsincethemid-1980scannotbeexplainedsimplybyapplyingexistingtheories,whichfocusonconventionalinternationalbusinessesfromcapitalistsystems.ManypuzzlingphenomenainChineseinvestmentsabroadbecomeintelligibleonly

6、whenweintroduceakeyvariable-illicitprivatizationthroughinternationalization.Sofaronlyadvantageously-placednomenklaturamembersandtheirkinhavehadaccesstocrossborderownership,butmanyofthemareaccumulatingsizeableprivatewealthatthecostofnationalizedproperty.Contraryto

7、animpressionheldbymanyintheWest,theChineseeconomyunderCommunistruleexperiencesspontaneousprivatizationparalleltowhathashappenedinEuropeanpostcommunistnations-thoughwithafewChinesecharacteristics.AnexaminationofinformalprivatizationinChina'smultinationalsaddsanewd

8、imensiontoourunderstandingoftheshiftfromstatesocialismtomarketcapitalism.TherecentyearshavewitnessedanimpressiveexpansionofChinesebusi-nessesoverseas;thesearen