Some Theoretical Approaches to the Foundations of China's Economic Development Model and Its Techno-Industrial Advancement

Abstract

This article analyzes the different theoretical approaches that allow us to understand economic development and techno-industrial advancement in China. Currently, the Asian country is a leader in manufacturing and industrial production; it is one of the main creators of technology, and many chinese companies are at the forefront of global production due to the quality of their products and their market value. This research is divided into several categories; that is, it provides some theoretical frameworks that conceptualize the innovation process, as this is useful for accommodating the events that have shaped China's technological and industrial evolution. In addition, this analysis incorporates the contributions of several authors on the importance of the State as a guiding force in development. Therefore, reference is made to the theory of the directed market, as well as to Peter Evans's conception of the State's role in economic success or failure. Subsequently, to address the topic of innovation, the contributions of Joseph Schumpeter, with his Theory of Economic Development, are considered. Michael Porter's theory of Competitive Advantage; Robert Wade's theory of Directed Markets; Yifu Lin's theory of Technological Innovation in China; and Navi Radjou's theory of Polycentric Innovation will undoubtedly be useful in understanding the development of chinese economic measures implemented throughout the five-year plans and technological programs.