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Shaomin Li (Ph.D., Princeton University) is Eminent Scholar and Professor at Old Dominion University. He studies the global environment of business and institutional change. His research on rule-based versus relation-based governance has been featured by The Economist twice. His recent book is on “Bribery and Corruption in Weak Institutional Environments” (Cambridge University Press). In 2008, the Governor of Virginia presented him the Outstanding Faculty Award.
While it has been commonly recognized that the theft of intellectual property (IP) by China is at the center of the trade war between the U.S. and China, one key fact is often ignored: China’s political economy is run by…