The dragon awakes: economic reforms in China since, 1949

Chai,, Shin Yi (2009) The dragon awakes: economic reforms in China since, 1949. Masters thesis, Universiti Malaysia Sarawak, (UNIMAS).

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Abstract

The rise of China as a major player in the world economy is likely to become one of the most significant developments in the 21st century. The Chinese economy has experienced a major transformation; from a planned economy to a market economy, from an agrarian economy to an industrial economy, from a relatively closed economy to a relatively open economy. Taking a historical approach, this thesis will chart China’s state-led efforts to develop the economy. A historical approach thus allows one to better understand and appreciate China’s development trajectory, the challenges it has faced in this quest for development and its current achievements as well as its future challenges. In essence, one can attribute China’s economic achievements to the role of its gradualist developmental state. This means that the Chinese state led the economic development of the republic in an incremental manner in order to maintain fragile cooperative relations between economic agents.

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