Preface Chapter 1 Chapter 2 Chapter 3
Notes Preface 1. See, e.g., Wang (1998a). Wang and Nolan (1998) contains several of Dr Wang’s papers on Chinese enterprise reform as well as one long paper of my own. Chapter 1 1. My own contributions to that debate, especially in relation to China, were pub- lished in various places (Nolan, 1990, 1993a,b, 1994, 1995). 2. The Pennsylvania Railroad employed 110 000 people by 1891, probably the world’s then largest business (Schmitz, 1993: 19). Chapter 2 1. For example, between 1992 and 1997, revenues rose by 59 per cent at GE, 53 per cent at Ford, 33 per cent at Shell and 34 per cent at GM. Employment in these giant firms rose by just 19 per cent at GE, 12 per cent at Ford, and fell by 17 per cent at Shell and 19 per cent at GM (UNCTAD, 1995, 1999). Chapter 3 1. These 100 enterprises were chosen in November 1994. Of these 28 were classi- fied as super-large, 67 large and five medium-sized enterprises. They employed over 1.5 million people and most were members of large enterprise groups in their own right (Huang, Wu and Yao, 1998: 35) with an average of 20 members per trial enterprise group (Zou and Zhang, 1991). 2. These measures, shrouded in greater secrecy than those related to business group development, orient around closer relationships between the banking sector and the chosen LMEs. The 512 LMEs in this ‘vanguard’ were among the largest in the state sector. Although they constituted just 1 per cent of all state firms they accounted for 55 per cent of assets, 60 per cent of sales and 80 per cent of taxes of the state industrial sector (CDBW, 14 January 1998).
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