Arguing for Rapid Economic Growth

Sheng Hong and Huang Tieying

Chinese Economy, 1989, vol. 23, issue 2, 34-54

Abstract: The development of our country's economy in 1984 has placed the question of "rapid growth" before the Chinese people. Our economy currently possesses a dual transitional character: (1) it is in transition from a natural economy to a socialized large-scale production economy; and (2) it is also in transition from a Stalinist model to a planned commodity economy. To be precise, our economy is in the process of undergoing drastic structural transformation. Therefore, our analysis and assessment of economic growth in 1984 ought to: (1) proceed from an understanding of the transitional character of our economic mechanism; (2) emphasize structural analysis over gross-quantity analysis; and (3) borrow from ways of thinking about developmental economics and employ a more long-range, historical perspective in dealing with short-term economic changes.

Date: 1989
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