Chinese Model of SEZs’ Development
In today's rapidly changing economic landscape, industrialization is widely used term in many government circles. And industrialization through industrial relocation using Special Economic Zones as a policy tool is on many governments’ top agenda. Pakistan is no exception. However, it is not just the establishment of SEZ to bring about industrialization but the interplay of myriad factors that determines its success, as seen in China. China, in just over a half-century, emerged as an industrial powerhouse by implementing a robust industrial policy that included incentives laden SEZs to reform and transform the Chinese economy. The SEZs became the “greenhouses” of foreign entrepreneurs, primarily from Hong Kong and Taiwan, followed by rest of the world, and that facilitated the inflow of foreign capital, technology, and management, and China with their consistent industrial policies, SEZ’s forward and backward linkages managed positive spillover and extended the same to its domest...