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Capitalism with Chinese Characteristics: Entrepreneurship and the State
 
 

Capitalism with Chinese Characteristics: Entrepreneurship and the State (Hardcover)

by Yasheng Huang (Author)
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Review

'The development of the Chinese private sector is a key to the future shape and performance of the Chinese economy. At present, the subject is widely misunderstood. This book does more than any other to clarify the issues and point the way forward.' Christopher Howe, FBA, School of East Asian Studies, University of Sheffield

'… important book … If one wants to understand the policy origins of China’s growing divide between rich and poor, urban and rural, one need look no further than this book.' William Kirby, Harvard University

'Sure to generate a lively debate, Professor Huang's study provides a provocative and well-researched challenge to much current thinking on China's economic development.' Susan Rose-Ackerman, Yale Law School

'… Capitalism with Chinese Characteristics is both immensely informative and enormously provocative.' Charles Wolf, Jr., Pardee RAND Graduate School

'… the scale of the research is impressive, and goes beyond most western commentators other than those with high-level Chinese language skills and access to the primary sources. … the book is overall an important reminder that the story of China's growth rewards detailed research and is not simply the tale of a gradual deepening of market-led economic reform. … Huang's tale of the first two decades of China's economic reform is indeed worth bearing in mind when watching the latest developments.' The Business Economist


Product Description

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. In the 1990s, urban China triumphed. In the 1990s, the Chinese state reversed many of its 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. 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.

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