Chapter

Understanding China and Its Transformation

Khalid Malik

in Why Has China Grown So Fast For So Long?

Published in print September 2012 | ISBN: 9780198078838
Published online September 2012 | e-ISBN: 9780199081646 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198078838.003.0006
Understanding China and Its Transformation

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This chapter examines the emergence and the interplay of the productive forces which led to the phenomenal 50-fold growth in per capita incomes in China since the late 1970s. Novel propositions are presented to understand this dramatic transformative process, which run counter to or fall outside the narrow realm of conventional economics. Broadly, national ownership and leadership was one such force. The elements of it were a strategic and strong vision of development, sustaining this vision through leadership, local ownership, and China’s long-term commitment to reform, which acted as drivers of constant progress and modernization. Building of capacities through human capital formation, institutional reforms, and evolution of social capital were successful in not only increasing growth, but also establishing a sturdy foundation leading to the economy’s transformation.

Keywords: China; transformation; development vision; Chinese leadership; property rights; civil service; social capital; economics; reforms; national ownership

Chapter.  26152 words.  Illustrated.

Subjects: Business and Management

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