Introduction: Making Money
1. The Sprouts of Capitalism: Bamboo in Springtime
2. America's Retail Revolution: The Hidden Dragon
3. Demand-Led Industrialization: Big Buyers in Taiwan
4. An Economic Way of Life: The Round Table
5. Big Business, Small Firms: Meat and Soup
6. The Search for a New Asian Economy: The Tipping Point
7. High Technology Industries in Taiwan: Turning on a Dime
8. Consolidation in China: A New Age of Mass Production
9. Consolidation in China: Computers and Smartphones
10. Greater Taiwan, Circa 2016: The End of an Era?
Epilogue: The Future of Demand-Led Capitalism
Gary G. Hamilton is Professor Emeritus in the Jackson School of International Studies at the University of Washington.Cheng-shu Kao is Chairman of the Board of Trustees at Feng Chia University and Honorary Professor in the Department of Sociology at Tunghai University.
"Hamilton and Kao are the only scholars who could tell such a
comprehensive and in-depth story about Taiwan's export-oriented
manufacturing sector from its 1960s origins to the present. They
situate this seemingly small story in the context of Chinese
business and culture, East Asian development, and the global
political economy—illustrating why it is a big deal. A masterful
contribution."—Ho-Fung Hung, Johns Hopkins University, author of
The China Boom
"This book shows a lifetime of engagement with the fascinating
story of Taiwan's remarkable growth. Hamilton and Kao explore the
symbiotic relationship between changes in U.S. retail and
manufacturing developments in Asia. But the real story is in their
vivid interviews with entrepreneurs, the real makers of the
Taiwanese miracle."—Stephan Haggard, University of California, San
Diego, author of Pathways from the Periphery
"With Taiwan's role in the global economy mainly confined to
contract manufacturing and component production—rather than selling
brand-name products—the island's importance has gone nearly
undetected. Even more invisible has been the role of Taiwan-based
companies in China's "manufacturing miracle." This in-depth and
authoritative study elevates Taiwan to its rightful position and,
in doing so, reveals much about how the global economy actually
works. Required reading!"—Timothy J. Sturgeon, Massachusetts
Institute of Technology
"Making Money strikes a rare balance between big ideas and rich
case studies, brimming with detail. Hamilton and Kao skillfully
argue for a new understanding of the East Asian miracle against the
backdrop of the move toward a network-based, demand-responsive
global economy. Taiwan sits at the epicenter of this shift. As this
book shows, its contract manufacturing prowess provided the micro
foundations for China's rise—and Taiwanese production networks are
among the factors that will shape the Asian future."—Gary Gereffi,
Duke University
"For all those watching China's growth, this book deserves careful
reading. We've seen it before—in Japan, South Korea, and in Taiwan,
the country that Hamilton and Kao analyze. How is it that such a
small country has played an outsized role in globalization over the
past half-century? What role does Taiwan play in China's growth?
The authors provide answers that will interest economists,
political scientists, and sociologists alike."—Robert C. Feenstra,
University of California, Davis
"This book is essential reading for anyone interested in the
tremendous changes in post–World War II capitalism, the way that
American consumers and Asian producers have become inextricably
linked. The authors make a compelling case that this transformation
leads back to rationalization—on a global scale—in the name of the
firm and its profits."—Yun-han Chu, Academia Sinica and President,
Chiang Ching-kuo Foundation
"One crucial element of Taiwan's economic success, which began in
the 1960s—and equally of its economic slowdown, which started in
the 1990s—was the agility of its small and medium-sized "contract
manufacturers," firms that produce consumer products for U.S.
brands such as Apple and Timberland but have no brand names of
their own. By studying the Taiwanese entrepreneurs who built these
firms, Hamilton and Kao shed light on the relationship between
globalization and the Asian economic miracle."—Andrew J. Nathan,
Foreign Affairs
"Making Money: How Taiwanese Industrialists Embraced the Global
Economy is the one truly crucial must-read book for anyone who
wants to understand globalization, contemporary capitalism, or how
the East Asian economy works today....Hamilton and Kao have put a
lifetime of experience into this book, and it shows."—Salvatore
Babones, Asian Review of Books
"[Hamilton and Kao] have written a highly accessible and readable
narrative that covers a half-century of economic history central to
understanding Taiwan, businesses and entrepreneurs, and global
capitalism. The breadth and depth of their study, covering almost
all sectors of Taiwan's consumer exports over a course of 30 years,
is nearly unprecedented. In sum, this study constitutes an
incredibly in-depth, significant, and consequential contribution to
scholarship on the Taiwanese economy, and should be necessary
reading for readers seeking to understand modern Taiwan."—James
Lin, International Journal of Taiwan Studies
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