It's low wages catching up with the accumulation drive. China is still in the low end so I will disagree with Jim that China is on the high tech trajectory and agree with Marty more on this issue. Buying Lenovo is not good enough, you can generate enough resources exploiting workers to acquire high tech companies from elsewhere. Finance has something to do with it. Of course at some level this is the quintessential process of centralization of capital but that's at such an abstract level that people would not understand it, to address Michael's question to the Chinese.
Korea is more nimble and has been using Japan as a benchmark, starting from 1960s with the steel industry (Japan was the technology supplier but never realized that it was going to face a boomerang effect). Korea's learning by doing, by observing, and its very regimented workforce and approach to work seem to support its accumulation. For a long time Korea had the longest work week. Just last Friday I heard a Korean business scholar giving a presentation on Sony and Samsung. It was quite revealing how Samsung has more than caught up with Sony. Yet according to him Samsung's prospects don't look so good. It's the catch up process that is more easy than an autonomous kind of development and Samsung may not be able to do soemthing more creative than commoditizing DRAM chips and so on. Anthony On Mon, Jun 21, 2010 at 7:26 PM, Michael Perelman <[email protected] > wrote: > I asked quite a few people about the Lenovo puzzle -- why can't China > develop such a company on its own, while S. Korea has been very > successful in doing so? > > I never got a real answer from anybody, or even a sense that they > understood the question. > -- > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail michael at ecst.csuchico.edu > michaelperelman.wordpress.com > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Anthony P. D'Costa Professor of Indian Studies and Research Director Asia Research Centre Copenhagen Business School Porcelænshaven 22, 3 DK-2000 Frederiksberg, Denmark Ph: +45 3815 2572 Fax: +45 3815 2500 http://uk.cbs.dk/arc www.cbs.dk/india http://www.thisismodernindia.com/this_is_modern_india_about_us.html xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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