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The Chinese Economy: Transitions and Growth Barry Naughton
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Economic growth hopefully will bring more freedom to China's people. But when we take a longer-term view, a transition to a multi-party political system in China is a foregone conclusion. Urban China is a fascinating topic of study: it displays unprecedented dynamism under market transition and globalizing forces. Manufacturers in the United States, China and Europe struggled last month as demand fell, suggesting an ailing world economy that still needs a steady diet of central bank support. €�While China has largely recovered from the recent downturn, its impact was an important reminder that the future growth of Chinese cities is now inextricably tied to the world economy.” Growing global linkages come with tradeoffs. Starting with the opening of agriculture to private incentives in the late 1970s, China has experienced faster and more prolonged economic growth than any other country. At a minimum it'll allow more of its citizens to buy widgets that help them get around the Great Firewall. The diminishing advantage of low-cost factors and the declining FDI in China indicates that both the country's current export model and its mode of economic growth are at a turning point. Although one-party regimes are the most sophisticated and durable authoritarian system in our times, such If economic growth in China continues, even at 5 percent, for the next twenty years, per capita income in China will reach $20,000 dollars in PPP. The development of Chinese cities was fundamentally altered with the economic . In a mere three decades China has moved from a to Germany (1.28%/ year). I travel to China fairly often, and it sure looks like a fast growing East Asian economy, even in the interior of the country. The slowdown makes this transition all the more urgent, because GDP growth in China's service sector produces more jobs than does the industrial sector. 1993), Barry Naughton, The Chinese Economy : Transitions and. During its transition to the current policy regime, it grew extremely fast, yet remains poor. Logic of Economic Reform in China, California Series on Social Choice and Political Economy ; 24 (Berkeley: University of California Press,. Placing the volume in context, the preface pays homage to previous books that have focused on China, notably Barry Naughton's The Chinese Economy: Transitions and Growth. If China is able to implement a smooth transition to the democracy (that did not occured in the USSR), i predict that china will attain the "technological frontier" somewhere near the year 2050.