A Fresh Look at the Development of a Market Economy in China

Rigas Arvanitis, Pierre Miège and Wei Zhao

MPRA Paper from University Library of Munich, Germany

Abstract: The Chinese economy does still not qualify as demand-driven economy. Its growth is based on investment. In fact successive waves of investment have emerged during the eighties and produced a piling-up of productive systems. A wave of small national enterprises and entrepreneurs, a second large wave of foreign direct investment from overseas Chinese mainly from Hong-Kong, South-East Asia and Taiwan and a wave of FDI from rich industrialized economies: Japan, South Korea, USA and Europe. The article presents these waves and the consequences of its occurrence. They also deal with the absence of confidence that seems to characterize the economy and dwelve on the difficulties of the growing market economy.

Keywords: China; growth; investment; productive systems; confidence; market economy; transition (search for similar items in EconPapers)
JEL-codes: O53 F14 O40 F43 O14 (search for similar items in EconPapers)
Date: 2003

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