Theory And Reality Of Transition To A Market Economy

The World Trade Organisation cannot be deemed truly international without the full participation of China, a massive market with an increasing number of highly sophisticated sectors. Yet'although China did accede to the WTO in 2001, after fifteen years of negotiations'WTO members persist in classifying China as a non-market economy, with all the trade restrictions such labelling entails. The EC in particular continues to curtail the flow of Chinese-European trade, despite some recent liberalisation in EC import and antidumping regulations. In this important book Dr. Hoogmartens clearly points the way to an equitable resolution of the complex problems raised by the friction between China's planned economy and EC trade policy instruments. The 'economic interface' he constructs takes account of such crucial elements as the following: China's 'unfinished' legal and economic reforms;the danger that the EC may develop an abusive protectionist stance;the challenge to the EC of increased Chinese competition;the persistence of Chinese state-owned enterprises;the absence of a satisfactory methodology to deal with the Chinese variant of a non-market economy;the possible adjustment of EC antidumping regulations vis-à-vis China;emergency safeguards;the role of the rule of law in trade regulation; andthe 'translatability' of Western social and political institutions. Addressing as it does a highly salient present and future aspect of the global economy, EC Trade Law Following China's WTO Accession will be of enormous value to policymakers in international economic law at all national and supranational levels. The author's reasoned and cautious analysis builds a sound platform for the ongoing development of peaceful and mutually beneficial commercial relations between Europe and China.

This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

The transition from socialism to capitalism in former socialist economies has transformed the economic structure. This book provides an overview of research on the issues raised by the shift from collective to private ownership.

Transforming the Chinese Economy is a translated collection of articles providing a look at how scholars in China have been assessing their country's recent economic history. This volume, as well as the others in the SSRC series, provides Western scholars with an accessible, English-language look at the state of current Chinese scholarship, and as such, does not simply provide information for the direct study of economic issues, but also for meta-level analysis of the interplay of China's policy, scholarship, and economy. Specific topics include banking and finance, inequality of growth, and women's role in the workforce.

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.

These are just some of the questions to be addressed in this paper. We do not pretend to give the final and complete answers, as the field under study still has many grey areas and even some areas completely unexplored by scientific research. We aim to at least open the discussion on the subject of bioterrorism, without claiming to be the supreme authority in the field or the final voice. We do not even pretend that our work is relevant in terms of security solutions in such a complex and fluid security environment, where situations and states of affairs can change dramatically from year to year. However, our aim in this series of papers on bioterrorism is to clarify a number of notions, concepts and theoretical or practical issues necessary for the general public to understand what bioterrorism is all about and what we should expect in the coming years. At the time of writing, the COVID-19 crisis is still in full swing, despite some apparent improvements over the last few weeks. This may only be the beginning of a series of widening and deepening crises that are hitting human society, again and again confronting it with great existential questions. The current COVID-19 crisis is and will continue to be followed by severe economic and social impacts that are almost impossible to predict. Situations in which crises break out everywhere and in all sorts of ways, and situations in which the states of the world are gathering into increasingly isolated and hostile groups, are nothing other than the specific preconditions for the outbreak of world conflicts. We have no intention whatsoever of promoting defeatism or of creating and spreading alarmist rumours for who knows what obscure purposes. The situation is simply worrying, at times reaching alarming levels that go beyond mere fear of the future. The bioterrorist phenomenon is beginning to emerge more and more clearly as a concrete threat to the present and the near future. From this point of view, an effort will have to be made (or at least begun) to enlighten the general public on how this new threat could materialise. Authors Cătălin Hideg Daniela Georgiana Golea