"The rise of e-commerce has transformed China's economy over the past two decades. By late 2020, close to 800 million Chinese people had shopped online and more than 60 million citizens were directly or indirectly employed in e-commerce-related industries. Yet the rapid rise of the industry seems to defy conventional wisdom. For instance, China's e-commerce market took off without strong formal institutions to support it, challenging the prevailing notion in political economy that certain formal institutions like state ...
Read More
"The rise of e-commerce has transformed China's economy over the past two decades. By late 2020, close to 800 million Chinese people had shopped online and more than 60 million citizens were directly or indirectly employed in e-commerce-related industries. Yet the rapid rise of the industry seems to defy conventional wisdom. For instance, China's e-commerce market took off without strong formal institutions to support it, challenging the prevailing notion in political economy that certain formal institutions like state-provided secure property rights, contract enforcement, and the rule of law are crucial pre-conditions for supporting efficient markets. Using a vast array of qualitative and quantitative data, Lizhi Liu reveals how, with weak rule of law, China instead outsourced part of its institutional functions to e-commerce companies themselves-prominent examples include Alibaba's Taobao.com and Tmall.com. Liu calls these companies "private regulatory intermediaries" (PRIs) and shows how they fulfill various legal, social, and political functions that the state might otherwise take on. Taobao, for example, has a complex reputation mechanism, a credit score, a fraud detection program, and even a jury-like system in which users can adjudicate cases or vote to change platform rules. Liu also explores how, beyond the systematic level, e-commerce has significant individual-level effects-namely, that e-commerce reduces the household cost of living but also distracts citizens from local political issues. Ultimately, this project goes beyond traditional analysis emphasizing either the rule of law or informal networks in supporting market development; it provides a lens to understand institutional experimentation broadly and deepens our understanding of state-business relationships in the Chinese context"--
Read Less
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Fine. Sewn binding. Cloth over boards. 328 p. Princeton Studies in Contemporary China, 18. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Fine. Sewn binding. Cloth over boards. 328 p. Princeton Studies in Contemporary China, 18. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
