It was long assumed that as China embraced open markets and private enterprise, its state-controlled economy would fall by the wayside, that free markets would inevitably lead to a more liberal society. Instead, China’s growth over the past four decades has positioned state capitalism as a durable foil to the orthodoxy of free markets, to the confusion of many in the West.<br /><br /> Christopher Marquis and Kunyuan Qiao argue that China’s economic success is based on―not in spite of―the continuing influence of communist leader Mao Zedong. They illustrate how Mao’s ideological principles, mass campaigns, and socialist institutions have enduringly influenced Chinese entrepreneurs’ business strategies and the management of their ventures. Grounded in case studies and quantitative analyses, this book shows that while private enterprise is the engine of China’s growth, Chinese companies see no contradictions between commercial drive and a dedication to Maoist ideology.
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Christopher Marquis is Sinyi Professor of Chinese Management at Cambridge Judge Business School, and Kunyuan Qiao is an assistant professor at Georgetown McDonough School of Business. Marquis is the author of Better Business: How the B Corp Movement Is Remaking Capitalism.
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