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China's Economic Reform An Experiment in Pragmatic Socialism
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Raphael Shen
ISBN: 0-275-96328-4
ISBN-13: 978-0-275-96328-6
240 pages
Praeger Publishers
Publication: 2/28/2000
List Price: $115.00 (UK Sterling Price: £79.95)
Availability: In Stock
Media Type: Hardcover
Also Available: Ebook
Trim Size: 6 1/8 x 9 1/4
Subjects:
Description: Both Mao Zedong and Deng Xiaoping drastically altered the course of contemporary China's economic development using opposing strategies. Mao froze China's economic system in a perennial state of consumer goods shortages and pervasive macro disequilibria. Deng, however, began thawing a rigidly structured system by introducing experimental reform measures. Mao's revolutionary rhetoric brought China's economy to the brink of bankruptcy. Deng's ideological pragmatism netted China glowing successes. Mao closed China to the outside world. Deng engineered China's reintegration into the world economy.

Dismantling a dysfunctional system and replacing it with a dynamic new one involving 1.2 billion people is risk-laden. Reform in China began in 1978. It was tentative and experimental, confining reform to organizational and administrative decentralization on farms. Successes on farms ushered in reform elsewhere in the economy. Over time, market-based coordinating mechanisms progressively began replacing the system's control devices. Results from decentralization internally reinforced those from liberalization externally. This consequently transformed China's stale, distorted system into a more competitive, bustling new one ready for developmental takeoff. Its meteoric rise among the world's leading markets in recent years has thrust China's economy to the forefront of growth and development. Controlled, phased reform is yielding dividends, not only for its own consumers but for international economic cooperation and growth as well.
Table of Contents:
  • Preface
    China Under Mao
    Pre Reform Economy
    Reform: A Macro Overview
    Agricultural Reform
    Price Reform
    Foreign Investment Reform
    Foreign Trade Reform: Redesigning the Engine of Growth
    Enterprise Reform
    Fiscal and Monetary Reform
    An Afterword: Entering the 21st Century
    References
    Index
About the Author: RAPHAEL SHEN is Professor of Economics at the University of Detroit./e He is the author of numerous books on economies in transition. His latest publications include Ukraine's Economic Reform (Praeger, 1996) and The Restructuring of Romania's Economy (Praeger, 1997).
LCC Class: 338
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