China's Transitional Economy: Interpreting its Significance

摘要: China's post-Mao economic reforms have generated rapid and sustained growth, unprecedented rises in real income living standards, transformed what was once one of the world's most insular economies into a major trading nation. The contrast between transitional economy those Eastern Europe former Soviet Union could not be more striking. Where latter struggle with severe recessions pronounced declines income, China has looked like sprinting East Asian “tiger” than plodding Soviet-style dinosaur mired swamps transition. realization that reform measures energetic growth continue even after political crisis 1989 made subject intense interest far outside customary confines field. Understood increasingly as genuine success story, it is moving to centre international policy debates about done transform stagnating Europe, various aspects its case now figure prominently academic analyses ranging from theories firm property rights foundations growth.