Political Economic Systems in Transition

Rongxing Guo ()

Chapter 4 in How the Chinese Economy Works, 2009, pp 66-98 from Palgrave Macmillan

Abstract: Abstract In traditional socialist countries, economic development is realized mainly through a plan worked out by the central planning authorities. The plan, however, is a mental construct which may or may not correctly reflect the objective requirements of economic development. If the plan is correct, economic development is smooth; if it is incorrect, not only is it of no help — it may even lead to stagnation and decline. Obviously this has been proven in China’s economic sphere, especially during the pre-reform period.

Keywords: Foreign Trade; China National Petroleum Corporation; Household Responsibility System; Centrally Plan Economy; Chinese Reform (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1057/9780230245686_4

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