Maslow’s Hierarchy of Needs: A Framework for Understanding China’s SOEs, SMEs and Decentralisation

Abstract

This study delves into the intricate interplay between state-owned enterprises (SOEs), disposable income and economic decentralisation within China’s economic landscape, all underpinned by the principles of Maslow’s hierarchy of needs. It highlights the unique roles of SOEs and small and medium enterprises (SMEs), while assessing disposable income’s effect in bolstering support for decentralisation. Emphasis is placed on whether a higher disposable income often a product of SOEs’ control over vital industries and utility prices can catalyse public enthusiasm for decentralisation. Utilising a spectrum of analytical techniques on secondary data, the study uncovers vital patterns that suggest a symbiotic relationship between SOEs and SMEs in advancing economic growth and decentralisation. The findings offer valuable insights for policy development and further understanding of the nexus between SOEs, disposable income and decentralisation, as contextualised within Maslow’s hierarchy of needs.