Abstract
Mainstream economists believe that the basic tendency of capitalism is competition with strict limits to growth of firm size, and limitless opportunities for 'catch-up' by firms from developing countries. In fact, the 'cascade effect' arising from pressures from 'system integrators' has stimulated an unprecedented degree of industrial consolidation since the 1990s. The rapidly increasing size and power of leading global steel firms presents a deep challenge ever for Chinese counterpart.
Original language | English |
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Title of host publication | Integrating China: Towards the coordinated market economy |
Editors | Peter Nolan |
Place of Publication | London |
Publisher | Anthem Press |
Pages | 50-65 |
Number of pages | 16 |
Publication status | Published - 2007 |
Keywords
- Merger and acquisition (M&A), competition, industrial consolidation, cascade effect, steel, China