Title: Review Article: Options for Market Reforms in China*
Abstract: Similarity between the two situations ends there. The countries of the former Soviet Union and eastern Europe are concerned with building capitalism and democracy. In contrast, China's goal is to create a market economy with Chinese characteristics.' Reform is deliberately gradual, with increasing market transactions but without turning control or ownership of state-owned enterprises over to the private sector. The intent is economic, not political, reform. Western observers tend to be critical. Many believe that China's gradual approach has created a host of new problems and that political change is a necessary condition for successful economic reform. Two new books examine problems of socialist planned systems generally and discuss solutions that specifically pertain to China. Reform in China and Other Socialist Economies, by Jan S. Prybyla, is a collection of 18 essays written in the 1980s. Prybyla argues that until China has fully functioning markets and political freedom, economic reform cannot succeed. Henry K. H. Woo, in Effective Reform in China: An Agenda, develops a new framework for China that identifies farmer-entrepreneurs as the key to sustained development. Woo is willing to discuss the possibility of reform within China's existing political framework; Prybyla is not. However, both authors argue
Publication Year: 2016
Publication Date: 2016-01-01
Language: en
Type: article
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