China
Subtitle: Transition to a Market Economy (Studies on Contemporary China)
Publisher: Oxford University Press, USA
Published: December 4, 1997
Language: eng
Number of pages: 248
ISBN-13: 9780198290674
First sentence: The experiences of the Central and the Eastern European countries show that the costs of transition from a planned to a market economy can be substantial.
Description: The starting-point of Dr Chai's analysis is a careful examination of the structural elements of China's new economic system, focusing particularly on the decentralization of property rights in both the agricultural and industrial sectors. There follows a detailed analysis of changes in the functional elements of the system: its price and financial mechanisms. An assessment of the open-door policy also considers the twin impact of the liberalization of China's foreign trade and foreign investment regimes. Finally, China: Transition to a Market Economy highlights the increasingly important role of the non-state sector in facilitating economic growth and structural transformation.