The Rise of China

Linda Glawe and Helmut Wagner ()
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Helmut Wagner: University of Hagen

Chapter Chapter 4 in The Economic Rise of East Asia, 2021, pp 143-241 from Springer

Abstract: Abstract China presents probably the most astonishing growth miracle in modern world history. This chapter shows how China has developed, starting from the Middle Ages to the present with a special focus on the “Reform and Open-door Policy” under Deng Xiaoping from 1978 onwards. Before outlining individual reforms, this chapter analyzes the special characteristics of the Chinese reform strategy which can be best described as gradualist and experimental. It then discusses the agricultural reforms, the emergence of Township and Village Enterprises, the role of special economic zones and FDI, the fiscal, financial and state-owned enterprise reforms that intensified in the 1990s, and the 2001 WTO accession. It also explains why the reform slowed down after 2003 and in how far the growth strategy has turned toward “rebalancing” under Xi Jinping.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-87128-4_4

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DOI: 10.1007/978-3-030-87128-4_4

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