Sara Hsu. “China Model” Colonialism and Communism Planned economy Mao’s death.
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Transcript of Sara Hsu. “China Model” Colonialism and Communism Planned economy Mao’s death.
China’s Development Trajectory
Sara Hsu
The “China Model” “China Model” Colonialism and Communism Planned economy Mao’s death
Reform History 1978 through 1989
• Third Plenum• Household Responsibility System• Decentralization• State Owned Enterprises• Tiananmen Square
Reform History 1992 to 2001
• Deng’s Southern Tour in 1992• Elimination of dual-track system• Privatization• Trade decentralization• Foreign direct investment• Banking reform
Reform History 2001 to Present
• WTO entry• Scaling up in export value chain• Minimum wage changes• Impact of the Great Recession
Political Economy of Reform
Political barriers to reform Dominance of the Party
Data and Pattern of Growth
China’s Sector Value Added (%)
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
0
10
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60
AgricultureIndustryServices, etc.
Bottom Line China’s gradualist approach to reform
helped the country closely guide the economy toward successful developments and avoid domestic political conflict
Rural, urban, trade and financial sector reforms were all components of planning.
Did You Know? China’s latest Twelfth Plan has sought
to increase production in all three sectors-agriculture, manufacturing, and services.
The plan attempts to equalize standard of living among rural residents, rural migrants, and urban residents.
Fin Questions?