Markets Over Mao: The Rise of Private Business in China

Nicholas R. Lardy

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Markets Over Mao: The Rise of Private Business in China

Markets Over Mao: The Rise of Private Business in China By Nicholas R. Lardy Markets Over Mao The Rise of Private Business in China China s transition to a market economy has propelled its remarkable economic growth since the late s In this book Nicholas R Lardy one of the world s foremost experts on the Chinese economy tra

  • Title: Markets Over Mao: The Rise of Private Business in China
  • Author: Nicholas R. Lardy
  • ISBN: -
  • Page: 219
  • Format: Kindle Edition
  • Markets Over Mao: The Rise of Private Business in China By Nicholas R. Lardy China s transition to a market economy has propelled its remarkable economic growth since the late 1970s In this book, Nicholas R Lardy, one of the world s foremost experts on the Chinese economy, traces the increasing role of market forces and refutes the widely advanced argument that Chinese economic progress rests on the government s control of the economy s commandiChina s transition to a market economy has propelled its remarkable economic growth since the late 1970s In this book, Nicholas R Lardy, one of the world s foremost experts on the Chinese economy, traces the increasing role of market forces and refutes the widely advanced argument that Chinese economic progress rests on the government s control of the economy s commanding heights In another challenge to conventional wisdom, Lardy finds little evidence that the decade of the leadership of former President Hu Jintao and Premier Wen Jiabao 2003 13 dramatically increased the role and importance of state owned firms, as many people argue This book offers powerfully persuasive evidence that the major sources of China s growth in the future will be similarly market rather than state driven, with private firms providing the major source of economic growth, the sole source of job creation, and the major contributor to China s still growing role as a global trader Lardy does, however, call on China to deregulate and increase competition in those portions of the economy where state firms remain protected, especially in energy and finance.
    Markets Over Mao: The Rise of Private Business in China By Nicholas R. Lardy

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    One thought on “Markets Over Mao: The Rise of Private Business in China

    1. Matthew on said:

      I had to move this up the reading list after my boss handed it to me and then asked me twice in the following days what I thought I found it excellent a short but dense read and cogently argued with lots and lots of data Lardy is writing as a historian and empiricist than as a theorist, in the sense that he doesn t argue from theoretical principles but makes hypothetical statements and backs them up with data There are loads of statistics quoted in this book, which are very useful to be aware o [...]

    2. Adrian on said:

      A decent understanding of China s economyMarkets over Mao is primarily a work of intense research, rather than a book prone to claims and assertions In this respect, this book can be recommended to those who would like a scholarly understanding of China s economy.The real gem of the book is the final chapter, Implementing the reform agenda The first chapters are very detailed, and as such, not an easy read.Markets over Mao could primarily be recommended to those whose interest is primarily in t [...]

    3. Damir on said:

      Very interesting research which goes against a lot of the news and opinions of today s media A bit of a dry read, but it s expected.Summary More credit will flow to the private sector China reflects the rise of market forces and private businesses.It doesn t have a successful model of state capitalism The state employs only 11% of Chinas labor force The footprint it has is very small There are about 30 civil servants per 1000 people, three times less than in France.China s banking system does a [...]

    4. Vance on said:

      I ve appreciated learning much about China s political economy from Lardy s other books this one is no exception He takes a deep dive into the economic data in China and argues that market liberalization continues there since 1978, though it has slowed somewhat in recent years There s an extensive discussion of the reliability, or lack thereof, of data in China, but when correcting the data or using other sources, there has been a tremendous amount of market liberalization that should continue s [...]

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