Exploring China's transition to a socialist market economy, this
book finds that the recent Chinese experience is unique and
unprecedented. It seems plausible that the distinctive
characteristics of China's market reform have been a result of
correcting the big bang approach of Eastern European countries and
unique conditions that China possesses. For instance, China is
endowed with a relatively high level of skilled labor and a large
workforce. Moreover, China has been experimenting with reform and
profit-sharing for a number of years, especially in the coastal
provinces.
This book juxtaposes native Chinese experiences with those of
academics in the U.S. It integrates the ideas of those living the
experience in China with the perceptions of outside observers who
might be able to offer constructive criticism. The book covers
various topics, such as macroeconomic policy, reform within
economic sectors, and strategies for sustainable development, while
making sure that the reader will not find it difficult to follow
the process of reform and the main impediments that China may
face.
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