How Did China Get So Big in So Short a Time?

Ken Moak and Miles W. N. Lee

Chapter Chapter 1 in China’s Economic Rise and Its Global Impact, 2015, pp 9-32 from Palgrave Macmillan

Abstract: Abstract China’s impressive economic achievements can he traced back to Deng Xiaoping’s approaches to reform both the economy and governance architecture. He pressed ahead on transforming socialist central planning to limited market economy in spite of entrenched opposition. The way he did it was creative and pragmatic in that instead of facing the opposition head on, Deng took the time and effort to ensure the allowance of small businesses was consistent with Marxism. He also restructured the Standing Committee of the Politburo, the apex of power, into a collective leadership in which no single person dominates policy decisions and each member is limited to a ten-year tenure. The new government structure was set up to prevent strong lifetime dictators like Mao or those who harbor bloodline dynastic ambitions from ruling.

Keywords: Government Spending; Credit Default Swap; Social Housing; Global Impact; Chinese Economy (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-53558-0_2

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DOI: 10.1057/9781137535580_2

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