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This insightful book demonstrates how China has emerged as one of
the world's largest privatizing countries within a decade.Since the
1980s, there has been a global wave of transfer of state assets to
private hands. China is a relatively late participant in this
worldwide trend, yet, in the last decade it has emerged as one of
the largest privatizing countries. Shu-Yun Ma argues that China?s
privatization is not based on any grand blueprint; rather, it is
privatization by ?groping for stones to cross the river?, a
well-known metaphor often attributed to Deng Xiaoping, meaning that
the reform simply proceeds on a trial-and-error basis without being
guided by any theory.With original case studies, including one on
China?s first industrial shareholding enterprise, this informative
book, will be of great interest to the academic community, China
observers and policymakers, as well as financial analysts.
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