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Capitalism with Chinese Characteristics: Entrepreneurship and the State

3.93  ·  Rating details ·  178 ratings  ·  10 reviews
Since 1978, the Chinese economy has grown phenomenally. This is not in dispute. By exactly what mechanism has China managed to grow so fast? There is more room for debate on this question. A widespread view is that private entrepreneurship, financial liberation, and political reforms played a minor role in explaining China's economic takeoff. Based on archival research and ...more
Hardcover, first edition, 348 pages
Published September 1st 2008 by Cambridge University Press (first published 2008)
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Jul 23, 2012 rated it it was amazing
Shelves: china
Very good.

Chinese growth in the 1980s depended on rural entrepreneurship, market-directed purchases, and local innovation. After 1989, when the reformist Zhao Ziyang was purged from the leadership, policy changes at the center made China more dependent on urban growth, financed at below-market rates by state banks. (See Walter and Howie's Red Capitalism (2011).)

A generation of Shanghai-bred leaders, including former General Secretary Jiang Zemin, encouraged foreign direct investment, but blocke
May 11, 2012 rated it really liked it
A strong alternative narrative of Chinese economic growth and policy of the last 30 years. To date, the dominant story has been that of Dani Rodrik, et. al. of gradual policy reform that avoided the ills of neoliberal privatization through smart heterodox reform. This narrative adds some wrinkles to the story. While the 80s are still celebrated as creating important spaces for rural entrepreneurialism that supported pro-poor growth, the 90s are portrayed as a a period of illiberal regression. Sh ...more
Yu Li
Dec 25, 2019 rated it it was amazing
A very general view of how the economy of China evolved

The policy changes like the moon in every 15 days is the nature of Chinese economy,

The key message of this book is that economic development is the result of liberalisation and privitisation rather than infrastructure and FDI.

And follow this gradualism perspective, also like Rodrik mentioned once, without the full capacity to change everything overnight.

The Township and village enterprise is a way to guarantee the property rights of these e
Mar 02, 2012 rated it really liked it
Shelves: history_policy
One of the most difficult books I ever read. What made this challenging is a lot of data and lack of smoothness in the text on the micro level.

The book does cover a lot of ground in terms of time (~30 years) and the whole of China, presenting a very different view of the Chinese economy compared to what we are presented with usually: although GDP is growing quickly, the life of most people either did not improve or got worse. The book shows a lot of data, and although I did not agree with some i
May 19, 2013 rated it it was amazing
Shelves: china, ebook, own
Well-researched story of the real, market-oriented reasons China succeed in its reform era. Says the government's main role was to get out of the way, and growth was better before the post-Tiananmen state changes.
David Dayton
Mar 23, 2009 rated it it was amazing
Shelves: business, china
Once again, this is one of the best books that I've read to explain about the China of the last 35 years.
Dec 31, 2015 rated it it was amazing
Brilliant except some of the data points and reasoning are a bit light. Worth a second read. The Shanghai analysis and China-India comparison are fascinating.
David Freeman
Jan 08, 2010 rated it really liked it
one of my favorite topics. not light reading, but dead on.
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