Demystifying the Chinese Economy

ISBN-10: 0521181747
ISBN-13: 9780521181747
Edition: 2011
Authors: Justin Yifu Lin
List price: $65.95 Buy it from $30.38
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Description: China was the largest and one of the most advanced economies in the world before the eighteenth century, yet declined precipitately thereafter and degenerated into one of the world's poorest economies by the late nineteenth century. Despite  More...

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Book details

List price: $65.95
Copyright year: 2011
Publisher: Cambridge University Press
Publication date: 10/27/2011
Binding: Paperback
Pages: 330
Size: 6.00" wide x 9.00" long x 1.00" tall
Weight: 1.144
Language: English

China was the largest and one of the most advanced economies in the world before the eighteenth century, yet declined precipitately thereafter and degenerated into one of the world's poorest economies by the late nineteenth century. Despite generations' efforts for national rejuvenation, China did not reverse its fate until it introduced market-oriented reforms in 1979. Since then it has been the most dynamic economy in the world and is likely to regain its position as the world's largest economy before 2030. Based on economic analysis and personal reflection on policy debates, Justin Yifu Lin provides insightful answers to why China was so advanced in pre-modern times, what caused it to become so poor for almost two centuries, how it grew into a market economy, where its potential is for continuing dynamic growth and what further reforms are needed to complete the transition to a well-functioning, advanced market economy.

List of figures
List of tables
Preface
Opportunities and challenges in China's economic development
Why the Scientific and Industrial Revolutions bypassed China
The great humiliation and the Socialist Revolution
The comparative advantage-defying, catching-up strategy and the traditional economic system
Enterprise viability and factor endowments
The comparative advantage-following development strategy
Rural reform and the three rural issues
Urban reform and the remaining issues
Reforming the state-owned enterprises
The financial reforms
Deflationary expansion and building a new socialist countryside
Improving the market system and promoting fairness and efficiency for harmonious development
Reflections on neoclassical theories
Appendix Global imbalances, reserve currency, and global economic governance
Index

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