ABSTRACT
The rise of the 'creative industries' in the 1990s has led to a shift in thinking about the relationship between public and private institutions in the cultural economy. This chapter discusses the variety of motives behind the public funding for the cultural economy with the popularity of the 'creative industries' discourse. It argues that the cultural economy is more complicated including both the monetary and non-monetary aspects of the way culture is produced, disseminated, and exchanged. The chapter discusses the Korean case in greater detail, exploring the cultural and economic contradictions of Bollywood, the instrumentalisation of the Trinidadian Carnival, and China's attempts to establish it as a cultural powerhouse in order to garner influence and reputation. China's accession to the World Trade Organisation and the popularity of the 'cultural industries' discourse resulted in acknowledgement of the importance of film industries in 'cultural industries' and soft power strategies.
