China S Transition From Socialism

The essays in this volume address the industrial, commercial, urban and regional reforms of China's planned economy during the 1980s. The emphasis is on the dominating institutional and bureaucratic presence of the state even as it sought to loosen the pre-1979 vertically structured centralised command system and to introduce some market principles to stimulate economic activity. The essays fall into four categories: theoretical and policy discussions and debates at the central leadership level; reform of the urban economy and of inter-regional relations; industrial and commercial reforms; and the rise and position of the new entrepreneurial class. Many of the essays draw on interviews with Chinese economic officials in the Central China city of Wuhan and therefore this is the only study that uses local data on actual operations of reforms from a Chinese city; the other sources are the Chinese press and Chinese official and scholarly journals. In each of the categories there are pieces from different points in the chronological process of reform. This study begins with the first theoretical discussions among China's economists and top political leaders in the late 1970s and concludes with experiments with bankruptcy and stock markets in the late 1980s. The countervailing heavy presence of the state at both the policy and the practical levels throughout the reform decade is its unifying theme.

First published in 1982. The dramatic changes in policy and theory following the death of Chairman Mao in 1976 and the publication of the most extensive official and unofficial data on the Chinese economy and society in twenty years both necessitated and made possible a thorough reconsideration of the full range of issues pertaining to the political and economic trajectory of the People’s Republic in its first three decades. The contributors to this volume initiated a comprehensive effort to address fundamental problems of China’s socialist development and to reassess earlier perspectives and conclusions.

How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.

China is currently encountering increasing social problems, together with the rise of mass discontent and public protest, despite having achieved enormous economic growth after nearly thirty years of market socialism and embracing globalization. The future of China thus depends not only on the economic progress the nation has achieved - and will achieve - but also on how the government addresses growing social tensions. Focusing on why social tensions have arisen despite economic prosperity and how the state is responding, this book presents rich, original data about many of the social challenges facing China, including rural-urban migration, unemployment, the health care crisis, the rise of religion, the desire for increased individualism, and new mass movements. It investigates governmental responses to deal with the problems including legal and political reforms and local governance innovations, throughout setting the discussion in the context of how far a traditionally ‘socialist’ nation can be integrated into global capitalism. Overall, the book provides a timely, up-to-date, and down-to-earth examination of and reflection on China’s continuing socio-economic and political transition.

As China moved from a planned to a market economy many people expected that China’s political system would similarly move from authoritarianism to democracy. It is now clear, however, that political liberalisation does not necessarily follow economic liberalisation. This book explores this apparent contradiction, presenting many new perspectives and new thinking on the subject. It considers the path of transition in China historically, makes comparisons with other countries and examines how political culture and the political outlook in China are developing at present. A key feature of the book is the fact that most of the contributors are China-born, Western-trained scholars, who bring deep knowledge and well informed views to the study.