In Transforming China Peter Nolan, one of the foremost experts on the Chinese economy, examines the enormous challenges faced by China's policymakers. Spanning a period of thirty years, from the late 1970s to the present day, the essays in this book address different aspects of those challenges. The development challenge involved devising policies that would raise the mass of the Chinese people out of poverty and avoid the disasters that had, in the worst cases, caused millions of deaths through famine. The transition challenge involved, firstly, resolving the relationship between change in the economic and political systems, and secondly, finding the correct sequence and nature of reforms necessary to improve economic performance. The "globalization" challenge involved identifying the way in which to integrate Chinas economic system with the international economy at a time of revolutionary change in the global business system.
Brought together in one collection for the first time, these seminal essays seek both to enhance understanding of Chinas immense success in meeting these challenges in the past, and to provide an indication of the challenges that still lie ahead. Chinas system reforms have been described as groping for stones to cross the river. The journey across the river is far from over, and the other bank is only dimly visible....Continua