Wenzhou and the Third Italy: Entrepreneurial Model Regions

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
Susan M. Walcott, Professor (Creator)
Institution
The University of North Carolina at Greensboro (UNCG )
Web Site: http://library.uncg.edu/

Abstract: Physically semi-isolated between the two economically booming deltas of Shanghai and Guangzhou, Wenzhou provides the premier example of successfully autonomous, bottom-up entrepreneurial development in contemporary China. Along with a prosperous urban area, rural farm cooperatives are developing a new model of financing that integrates the three previous periods of economic experimentation. This research outlines the Wenzhou Model, discusses similarities with the Third Italy Model, and notes development possibilities for other Chinese metropolitan regions. Keys to success lie in local trust-based social networks, a focus on niche sectors, market sensitive export orientation, and investments utilizing endogenous capital.

Additional Information

Publication
Journal of Asia-Pacific Business 8(3):23-35
Language: English
Date: 2007
Keywords
China, development model, Third Italy, entrepreneurial