Markets over Mao : the rise of private business in China

China's Transition To A Market Economy Has Propelled Its Remarkable Economic Growth Since The Late 1970s. In This Book, Nicholas R. Lardy, One Of The World's Foremost Experts On The Chinese Economy, Traces The Increasing Role Of Market Forces And Refutes The Widely Advanced Argument That Chinese Economic Progress Rests On The Government's Control Of The Economy's 'commanding Heights.' In Another Challenge To Conventional Wisdom, Lardy Finds Little Evidence That The Decade Of The Leadership Of Former President Hu Jintao And Premier Wen Jiabao (2003-13) Dramatically Increased The Role And Importance Of State-owned Firms, As Many People Argue. This Book Offers Powerfully Persuasive Evidence That The Major Sources Of China's Growth In The Future Will Be Similarly Market Rather Than State-driven, With Private Firms Providing The Major Source Of Economic Growth, The Sole Source Of Job Creation, And The Major Contributor To China's Still Growing Role As A Global Trader. Lardy Does, However, Call On China To Deregulate And Increase Competition In Those Portions Of The Economy Where State Firms Remain Protected, Especially In Energy And Finance. Introduction -- State Versus Market Capitalism -- The Reform Of State-owned Enterprises -- The Rise Of The Private Sector -- The Future Reform Agenda -- References. Nicholas R. Lardy. Includes Bibliographical References And Index.

China's transition to a market economy has propelled its remarkable economic growth since the late 1970s. In this book, Nicholas R. Lardy, one of the world's foremost experts on the Chinese economy, traces the increasing role of market forces and refutes the widely advanced argument that Chinese economic progress rests on the government's control of the economy's "commanding heights." In another challenge to conventional wisdom, Lardy finds little evidence that the decade of the leadership of former President Hu Jintao and Premier Wen Jiabao (2003–13) dramatically increased the role and importance of state-owned firms, as many people argue. This book offers powerfully persuasive evidence that the major sources of China's growth in the future will be similarly market rather than state-driven, with private firms providing the major source of economic growth, the sole source of job creation, and the major contributor to China's still growing role as a global trader. Lardy does, however, call on China to deregulate and increase competition in those portions of the economy where state firms remain protected, especially in energy and finance.

Peterson Institute for International Economics; Institute for International Economics; IIE; PIIE; 978-0-88132-693-2; 978-0-88132-694-9; Nicholas R. Lardy; Nicholas Lardy; Nick Lardy; Markets over Mao; The Rise of Private Business in China; markets, market economy, China, Chinese economy; China’s growth; Chinese private firms; economic growth; global trader; China private sector; state firms; foreign direct investment; GDP of China; Chinese imports; Chinese exports; rural reforms; rural credit cooperatives; growth; investments; state-owned firms; state-owned enterprises; state capitalism; urban cooperative banks; urban production; wage flexibility; village enterprises