THE “CATFISH EFFECT” OF THE PRIVATE SECTOR ON THE ECONOMY OF THE PEOPLE’S REPUBLIC OF CHINA

Zhang Youzhuo, Fu Jiesheng, M.Y. Wong and Sally Stewart
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Zhang Youzhuo: Jinan University, Guangzhou, China
Fu Jiesheng: Zhongshan University, Guangzhou, China
M.Y. Wong: The University of Hong Kong, Hong Kong, P. R. China
Sally Stewart: The University of Hong Kong, Hong Kong, P. R. China

Journal of Enterprising Culture (JEC), 1996, vol. 04, issue 04, 331-349

Abstract: Just as a catfish placed in a tank will by its vigorous activity oxygenate the water and energise the other fish, so the private sector1in the People’s Republic of China (PRC) is stimulating progress in other aspects of the economy. It is suggested that the changes, which include the creation of a new entrepreneurial class; setting a model for “capital operations” in the transition to a market economy; accelerating the formation of a competitive climate and acting as a pioneer, are contributing greatly to the development of the PRC. The paper concludes that the private sector provides a new dynamic force and is unlikely to be abolished again.

Date: 1996
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DOI: 10.1142/S0218495896000198

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