Industrial Policy in the Era of Globalization. Peter Nolan, leading expert on the Chinese economy, analyses the true nature of Chinese firms and their place in Chinas growing global economy in this book. Nolan argues that whilst Chinese films appear highly successful, in reality they are at a relatively early stage of development in contrast to Western firms, with comparatively low research and development expenditure, and high reliance on domestic markets. The book explores key sectors of the economy, and discusses the dilemmas for China in formulating the next stage of its industrial policy.