International audienceThis paper investigates the peculiar and contradictory nature of the on-going constructionof a system of corporate governance in China. The analysis attempts to overcome the limits oftraditional corporate studies that tend to focus on enterprise management, and puts the issuewithin the framework of the systemic and political relationships that shape economicmanagement and state intervention in large enterprises in transitional socialist systems. Theemergence of a specific managerial culture within the market and of winners among theenterprises is related to the position still held by the state in the enterprise asset, and by the accessto competitive markets available to the enterprises. State owned enterprises, enjoy the protectionof their status but they are more successful and adopt a more profit-oriented management cultureif they operate in the internationalised and competitive markets rather than in the strategical lowprofit,state-dominated sectors. Due to continuous interaction between enterprise managementand external (policy or macro-economic) factors, and to the absence or underdevelopment ofmost of the institutions generally necessary for a sound corporate governance system (financialmarkets, bank independence, free press etc.) the privatisation does not seem sufficient toengender all round market-led governance
This chapter analyses the extent of the Sino-Indian diplomatic thaw since the early 1990s. Without ignoring the existence of multiple cooperation channels, or seeking to minimize the importance of the considerable achievements realized in recent years by the two governments toward normalizing their relations, the attempt here is to show that relations between the two Asian giants remain hamstrung by a series of geostrategic and economic rivalries. Despite fast growth in trade and in specific areas of economic cooperation, the normalization of ties between Beijing and New Delhi does not yet constitute a genuine strategic partnership. Central Asia, as a new "hunting ground" for energy resources and geopolitical influence for regional and global players, will be no exception to the current nature of the bilateral relationship: competition and sometimes conflict (though not on an open basis) will probably dominate their relationship in this region, and cooperation will be established only for pragmatic reasons. After three decades of "freeze" following the war between the two countries in November 1962, India and China resumed diplomatic and trade exchanges in the early 1990s. Since the beginning of the new century, bilateral diplomatic relations have improved dramatically, with each year seeing several meetings between heads of government/state as well as ministers. 2 The contrast is arresting when one compares the period of tension and freeze that characterized Sino-Indian ties from the late 1950s. Over the past decade, there has been a multidirectional acceleration of official contacts. Although it is still too early to assess the real impact of this diplomatic warming, it is nevertheless interesting, given the growing weight of the two Asian giants on the world arena, to consider the nature and evolution of their relationship in the context of international M. Laruelle et al.
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