Ergänzende Anmerkungen zum chinesischen Wunder / Some Supplementary Comments on the Chinese Miracle

Weede Erich

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2012, vol. 63, issue 1, 129-134

Abstract: Feng, Ljungwall and Guo have demonstrated how the expansion of economic freedom contributed to persistent and rapid economic growth in China. Here, four additional items are discussed. First, the extreme restrictions of economic freedom before the reforms, under Mao and during the ‘great leap forward’, led China into catastrophe. Second, China′s economic performance should not only be explained by domestic determinants, but also by external determinants, in particular the advantages of backwardness which result from economic freedom in the West. Third, China′s economic performance since the reforms remains a ‘miracle’, because the Chinese economy does so well in spite of so insecure property rights and so little rule of law. Fourth, the one child policy may be regarded as the last ‘victory’ of social planning. It forebodes major problems.

Date: 2012
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DOI: 10.1515/ordo-2012-0111

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