Successes

Victoria Mantzopoulos and Raphael Shen

Chapter Chapter 7 in The Political Economy of China’s Systemic Transformation, 2011, pp 141-162 from Palgrave Macmillan

Abstract: Abstract After more than a quarter century of Mao’s whimsical development strategy, China remained an economically stagnant and backward country. Reform was imperative and politics was still in command. The decision to reform was neither the studied recommendations from scholars nor the consensus of voters, it was by fiat. Comparable to when the regime first came to power in 1949, China had neither the knowledge nor the experience to effectuate a systemic transformation. Yet, status quo was no longer an option. Economic reform was to begin under secrecy and tight political control. As the leadership repeatedly stated, the reform process was likened to “crossing the stream by feeling the pebbles underneath.” That is, very cautiously and tentatively.

Keywords: Gross Domestic Product; Capita Income; Industrial Sector; Gross Domestic Product Growth; Primary Sector (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11934-5_7

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DOI: 10.1057/9780230119345_7

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