Capitalism with Chinese Characteristics

Capitalism with Chinese CharacteristicsAn Economist Book of the Year, 2008 This book presents a story of two Chinas an entrepreneurial rural China and a state controlled urban China. In the 1980s, rural China gained the upper hand, and the result was rapid as well as broad based growth. In the 1990s, urban China triumphed. In the 1990s, the Chinese state reversed many of its productive rural experiments, with long lasting damage to the economy and society. A weak financial sector, income

An Economist Book of the Year, 2008
This book presents a story of two Chinas - an entrepreneurial rural China and a state-controlled urban China. In the 1980s, rural China gained the upper hand, and the result was rapid as well as broad-based growth. In the 1990s, urban China triumphed. In the 1990s, the Chinese state reversed many of its productive rural experiments, with long-lasting damage to the economy and society. A weak financial sector, income disparity, rising illiteracy, productivity slowdowns, and reduced personal income growth are the product of the capitalism with Chinese characteristics of the 1990s and beyond. While GDP grew quickly in both decades, the welfare implications of growth differed substantially. The book uses the emerging Indian miracle to debunk the widespread notion that democracy is automatically anti-growth. The single biggest obstacle to sustainable growth and financial stability in China today is its poor political governance. As the country marks its 30th anniversary of reforms in 2008, China faces some of its toughest economic challenges and substantial vulnerabilities that require fundamental institutional reforms.

Binding Type: Hardcover
Publisher: Cambridge University Press
Published: 09/01/2008
ISBN: 9780521898102
Pages: 348
Weight: 1.40lbs
Size: 9.10h x 6.90w x 1.10d

Review Citations: Chronicle of Higher Education 10/03/2008 pg. 21
London Review of Books 03/26/6009 pg. 9
Choice 06/01/2009
London Review of Books 01/28/2010 pg. 3
New York Review of Books 12/09/2010 pg. 32