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Author: Nicholas R. Lardy
Publisher: Peterson Institute for International Economics
ISBN: 0881327387
Category : Business & Economics
Languages : en
Pages : 251
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Book Description
China's extraordinarily rapid economic growth since 1978, driven by market-oriented reforms, has set world records and continued unabated, despite predictions of an inevitable slowdown. In The State Strikes Back: The End of Economic Reform in China?, renowned China scholar Nicholas R. Lardy argues that China's future growth prospects could be equally bright but are shadowed by the specter of resurgent state dominance, which has begun to diminish the vital role of the market and private firms in China's economy. Lardy's book arrives in timely fashion as a sequel to his pathbreaking Markets over Mao: The Rise of Private Business in China, published by PIIE in 2014. This book mobilizes new data to trace how President Xi Jinping has consistently championed state-owned or controlled enterprises, encouraging local political leaders and financial institutions to prop up ailing, underperforming companies that are a drag on China's potential. As with his previous book, Lardy's perspective departs from conventional wisdom, especially in its contention that China could achieve a high growth rate for the next two decades—if it reverses course and returns to the path of market-oriented reforms.
Author: Nicholas R. Lardy
Publisher: Peterson Institute for International Economics
ISBN: 0881327387
Category : Business & Economics
Languages : en
Pages : 251
Get Book Here
Book Description
China's extraordinarily rapid economic growth since 1978, driven by market-oriented reforms, has set world records and continued unabated, despite predictions of an inevitable slowdown. In The State Strikes Back: The End of Economic Reform in China?, renowned China scholar Nicholas R. Lardy argues that China's future growth prospects could be equally bright but are shadowed by the specter of resurgent state dominance, which has begun to diminish the vital role of the market and private firms in China's economy. Lardy's book arrives in timely fashion as a sequel to his pathbreaking Markets over Mao: The Rise of Private Business in China, published by PIIE in 2014. This book mobilizes new data to trace how President Xi Jinping has consistently championed state-owned or controlled enterprises, encouraging local political leaders and financial institutions to prop up ailing, underperforming companies that are a drag on China's potential. As with his previous book, Lardy's perspective departs from conventional wisdom, especially in its contention that China could achieve a high growth rate for the next two decades—if it reverses course and returns to the path of market-oriented reforms.
Author: Yingyi Qian
Publisher: MIT Press
ISBN: 026253424X
Category : Business & Economics
Languages : en
Pages : 414
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Book Description
A noted Chinese economist examines the mechanisms behind China's economic reforms, arguing that universal principles and specific implementations are equally important. As China has transformed itself from a centrally planned economy to a market economy, economists have tried to understand and interpret the success of Chinese reform. As the Chinese economist Yingyi Qian explains, there are two schools of thought on Chinese reform: the “School of Universal Principles,” which ascribes China's successful reform to the workings of the free market, and the “School of Chinese Characteristics,” which holds that China's reform is successful precisely because it did not follow the economics of the market but instead relied on the government. In this book, Qian offers a third perspective, taking certain elements from each school of thought but emphasizing not why reform worked but how it did. Economics is a science, but economic reform is applied science and engineering. To a practitioner, it is more useful to find a feasible reform path than the theoretically best way. The key to understanding how reform has worked in China, Qian argues, is to consider the way reform designs respond to initial historical conditions and contemporary constraints. Qian examines the role of “transitional institutions”—not “best practice institutions” but “incentive-compatible institutions”—in Chinese reform; the dual-track approach to market liberalization; the ownership of firms, viewed both theoretically and empirically; government decentralization, offering and testing hypotheses about its link to local economic development; and the specific historical conditions of China's regional-based central planning.
Author: H. Lai
Publisher: Palgrave Macmillan
ISBN: 9781349534753
Category : Political Science
Languages : en
Pages : 294
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Book Description
Built on rich data analyses, this book offers a fresh and in-depth explanation of how China's pro-reform leaders successfully launched controversial policies to promote private and foreign economic sectors, managed leadership conflict, and ensured reform in the provinces and rapid growth in the nation.
Author: Matthew Noellert
Publisher: University of Michigan Press
ISBN: 0472127101
Category : History
Languages : en
Pages : 359
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Book Description
Following the end of World War II in 1945, the Chinese Communist Party (CCP) spent the next three decades carrying out agrarian reform among nearly one-third of the world’s peasants. This book presents a new perspective on the first step of this reform, when the CCP helped redistribute over 40 million hectares of land to over three hundred million impoverished peasants in the nationwide land reform movement. This land reform, the founding myth of the People’s Republic of China (1949–present) and one of the largest redistributions of wealth and power in history, embodies the idea that an equal distribution of property will lead to social and political equality. Power Over Property argues that in practice, however, the opposite occurred: the redistribution of political power led to a more equal distribution of property. China’s land reform was accomplished not only through the state’s power to define the distribution of resources, but also through village communities prioritizing political entitlements above property rights. Through the systematic analysis of never-before studied micro-level data on practices of land reform in over five hundred villages, Power Over Property demonstrates how land reform primarily involved the removal of former power holders, the mobilization of mass political participation, and the creation of a new social-political hierarchy. Only after accomplishing all of this was it possible to redistribute land. This redistribution, moreover, was determined by political relations to a new structure of power, not just economic relations to the means of production. The experience of China’s land reform complicates our understanding of the relations between economic, social, and political equality. On the one hand, social equality in China was achieved through political, not economic means. On the other hand, the fundamental solution was a more effective hierarchy of fair entitlements, not equal rights. This book ultimately suggests that focusing on economic equality alone may obscure more important social and political dynamics in the development of the modern world.
Author: H. Lai
Publisher: Springer
ISBN: 0312376162
Category : Political Science
Languages : en
Pages : 307
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Book Description
Built on rich data analyses, this book offers a fresh and in-depth explanation of how China's pro-reform leaders successfully launched controversial policies to promote private and foreign economic sectors, managed leadership conflict, and ensured reform in the provinces and rapid growth in the nation.
Author: R. Coase
Publisher: Springer
ISBN: 1137019379
Category : Business & Economics
Languages : en
Pages : 268
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Book Description
How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
Author: Zheng Yongnian
Publisher: Routledge
ISBN: 1134056877
Category : Political Science
Languages : en
Pages : 320
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Book Description
Despite its recent rapid economic growth, China’s political system has remained resolutely authoritarian. However, an increasingly open economy is creating the infrastructure for an open society, with the rise of a non-state sector in which a private economy, non-governmental organizations (NGOs) and different forms of social forces are playing an increasingly powerful role in facilitating political change and promoting good governance. This book examines the development of the non-state sector and NGOs in China since the onset of reform in the late 1970s. It explores the major issues facing the non-state sector in China today, assesses the institutional barriers that are faced by its developing civil society, and compares China’s example with wider international experience. It shows how the ‘get-rich-quick’ ethos of the Deng Xiaoping and Jiang Zemin years, that prioritised rapid GDP growth above all else, has given way under the Jiantao Hu regime to a renewed concern with social reforms, in areas such as welfare, medical care, education, and public transportation. It demonstrates how this change has led to encouragement by the Hu government of the development of the non-state sector as a means to perform regulatory functions and to achieve effective provision of public and social services. It explores the tension between the government’s desire to keep the NGOs as "helping hands’ rather than as autonomous, independent organizations, and their ability to perform these roles successfully.
Author: Ross Garnaut
Publisher: ANU Press
ISBN: 176046225X
Category : Business & Economics
Languages : en
Pages : 709
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Book Description
The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.
Author: Susan L. Shirk
Publisher: Univ of California Press
ISBN: 0520912217
Category : History
Languages : en
Pages : 411
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Book Description
In the past decade, China was able to carry out economic reform without political reform, while the Soviet Union attempted the opposite strategy. How did China succeed at economic market reform without changing communist rule? Susan Shirk shows that Chinese communist political institutions are more flexible and less centralized than their Soviet counterparts were. Shirk pioneers a rational choice institutional approach to analyze policy-making in a non-democratic authoritarian country and to explain the history of Chinese market reforms from 1979 to the present. Drawing on extensive interviews with high-level Chinese officials, she pieces together detailed histories of economic reform policy decisions and shows how the political logic of Chinese communist institutions shaped those decisions. Combining theoretical ambition with the flavor of on-the-ground policy-making in Beijing, this book is a major contribution to the study of reform in China and other communist countries. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1994. In the past decade, China was able to carry out economic reform without political reform, while the Soviet Union attempted the opposite strategy. How did China succeed at economic market reform without changing communist rule? Susan Shirk shows that Chine
Author: Isabella M. Weber
Publisher: Routledge
ISBN: 042995395X
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.
