Making Markets

Michael Webber, Mark Wang and Zhu Ying

Chapter 4 in China’s Transition to a Global Economy, 2002, pp 61-92 from Palgrave Macmillan

Abstract: Abstract Together with the integration of production, trade and capital flows, globalisation in China is principally reflected in the progressive marketisation of systems of production and distribution. Increasingly, markets are being used to allocate labour and to reward that labour. The development of markets reflects a twin process — of the replacement of subsistence production by production for markets and of the replacement of state-directed production by market-directed production. Both forms of development have occurred in China over the past 50 years, but globalisation in the 1980s and 1990s really centres on the replacement of social norms by market norms of production and distribution.

Keywords: Central Government; Global Economy; Cash Income; Chinese Economy; Communal Enterprise (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-1860-4_4

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DOI: 10.1057/9781403918604_4

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