University of New Haven marketing program professor, George Haley, has co-author a new book with Usha C.V. Haley about China's business strategy and trade policy.
The following is an excerpt from a press release about the book from PR Newswire:
In a new book, "Subsidies to Chinese Industry: State Capitalism, Business Strategy and Trade Policy" through data and analysis, Usha and George Haley argue that industrial subsidies contributed significantly to China's success and may exceed thirty percent of industrial output in key industries.
Economic theories have portrayed subsidies as distortive, inefficiently reallocating resources. However, China's state-capitalist regime uses subsidies to promote the governments' and the Communist Party of China's interests. Over the last five years, research in this book on several industries, including steel, glass, paper, auto parts, and solar, has been incorporated into regulation and business strategy both in the United States and European Union.