Book: Between Market Economy and State Capitalism: China’s State-Owned Enterprises and The World Trading System

15 December 2022 


Associate Professor Weihuan Zhou has co-authored a book with Professor Henry Gao of Singapore Management University. ‘Between Market Economy and State Capitalism: China’s State-Owned Enterprises and The World Trading System’ has been published by the Cambridge University Press as a part of the Cambridge International Trade and Economic Law series.  


 About the Book:  

This book is the first systemic and thorough analysis of how to regulate state-owned enterprises (SOEs) under the world trading system with a focus on Chinese SOEs. It argues that existing WTO rules, especially those on subsidies, coupled with China-specific rules in its accession protocol, do provide feasible tools to counter China's state capitalism. This book also discusses the reasons for the lack of usage of these rules and provides concrete policy suggestions on how the rules may be better utilized, as well as how to conduct constructive negotiations on new rules in the WTO and beyond.

Professor Jennifer Hillman, a former judge of the WTO Appellate Body, congratulated the authors on having "done the nearly impossible". For her, this book is a "must read for those looking to understand how China's economic model impacts the world and its trading system." 

Petros C. Mavroidis, Edwin B. Parker Professor of Foreign and Comparative Law at Columbia Law School, described the book as ‘a very useful contribution destined for all students and practitioners of international trade.’  


Key Arguments: 

For a summary of the key arguments, see the authors’ blog post here


About the Authors:  

Henry Gao, Singapore Management University 

Henry Gao is a Senior Fellow at the Centre for International Governance Innovation and Professor of Law at Singapore Management University. He sits on the Advisory Board of the WTO Chairs Program and the editorial boards of the Journal of International Economic Law and Journal of Financial Regulation. 

Weihuan Zhou, University of New South Wales, Sydney 

Weihuan Zhou is Associate Professor and Director of Research at the Faculty of Law and Justice, UNSW Sydney and the Faculty's CIBEL Centre. He is the author of China's Implementation of the Rulings of the World Trade Organization (2019), co-Secretary of the Society of International Economic Law (SIEL) and editorial board member of the Journal of International Trade Law and Policy. 


Congratulations to both authors on their newest publication.  


Associate Professor Weihuan Zhou’s research may be found at SSRN, Twitter @WeihuanZhou, and LinkedIn