2 of 2 people found the following review helpful
on 17 November 2012
This book provides a clear insight into the development of China's economic system based not only on previous theory but also on a huge number of qualitative research conducted through in depth interviews that provide a 'behind the scenes' insight into China's economic development from two authors who have spent a huge amount of time doing on the ground research to really understand the fundamentals behind China's rise to being an economic superpower.
Additionally, the book is concise, highly readable and overflowing with insights and quotes that would be extremely useful to any economics student seeking to understand more about China's economy or the role of institutions in economic development globally.
1 of 1 people found the following review helpful
on 25 September 2012
This is a great book for everyone interested in China's remarkable economic transformation during the last 30 years. The book is full of real life examples and most readers will find the book both interesting and easily accessible.
Many authors have claimed that China's transformation from a socialist economy to a capitalist economy was initiated by the central government. However, Nee and Opper show that it was local entrepreneurs rather than the central government, which began building new capitalistic institutions. Thus, rather than designing new capitalist institutions, the central government formalized private institutional innovations once they had proven successful.
The book challenges conventional wisdom as to how China has emerged as one of the most powerful economies of the world. But, it does so in a convincing and well argued manner. This is certainly going to become a classic study of how a capitalistic economy was created from below.