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Asian Political Economy (69)

Research
Although contemporary China has developed a distinct economic system, the analytic foundations underpinning China’s state–market relations remain unclear.  PERI researcher Isabella Weber and Hao Qi develop in this paper a conceptual framework of what they term China’s state-constituted market economy. They argue that the Chinese state ‘constitutes’ the market economy by creating, participating, and steering markets for essentials in order to stabilize and guide the economy as a whole. Then then draw on China’s statecraft tradition as well as on proposals for financial policy reform in the U.S. to conceptualize the state-market constitution in China.
Research
Since 2017, China has adopted the "tolerant and prudent" policy in regulating emerging digital platform industries. Wei Zhang, Hao Qi and Zhongjin Li conduct an analysis for the cities of Nanjing and Beijing that finds that although these regulations can help reduce labor precarity in the marketplace for licensed drivers, they have exacerbated precarity in the workplace. This is because the ridehailing platforms aligned with third-party rental companies that provide licensed vehicles. This has forced drivers bounded by a rental or rent-to-own agreement to work significantly longer hours than counterparts who drive their own vehicles.
Commentary

How China Escaped Shock Therapy Interview with Rob Johnson

Interview, August 2021 |

Isabella Weber, Rob Johnson
>> Watch interview from the Institute for New Economic Thinking (INET)>> Learn more about "How China Escaped Shock Therapy." In an interview with INET's Rob Johnson, Isabella Weber discusses her new book on how China managed its transition from central planning to markets.
Research

Mapping Religion, Space, and Economic Outcomes in Indian Cities

Working Paper, August 2021 |

Sripad Motiram, Vamsi Vakulabharanam
Sripad Motiram and Vamsi Vakulabharanam deploy a socio-spatial approach and use a spatially representative survey in Hyderabad and Mumbai to analyze the relation between city, space, and religion. They identify poor-ghettos and elite-enclaves in Hyderabad and Mumbai. In both cities, ghettos have a high proportion of Muslims, while enclaves are dominated by non-Muslim inhabitants. Ghettoization of Muslims is far more pronounced in Hyderabad than in Mumbai. A key finding on the relation between city space and religion is that compared to segregated neighborhoods, mixed (“grayer”) neighborhoods produce better economic outcomes like lower poverty.
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