China's Third Economic Transformation
The Chinese economy is currently undergoing an institutional transformation as profound as the replacement of the peoples communes with the household responsibility system in the early 1980s and the emergence of township and village enterprises as the main locus of economic dynamism in the second half of the 1980s. This third dramatic transformation is the emergence of the private sector as the main source of the countrys economic growth.
This book discusses the key issues in private sector development in China and includes:
- An overview of the development of private enterprises in China.
- Analysis of the development and emerging paths toward private enterprise.
- Examination of the business environment in which private enterprises operate.
- Discussion of how the legal environment has changed through economic reform.
- Analysis of managerial capabilities and state-business interactions.
- Suggested policy recommendations.
The contributors suggest that private sector development is necessary to maintain the dynamism of the Chinese economy and create greater employment opportunities. Chinas Third Economic Transformation will appeal to scholars of Asian Economics and Business who are interested in the rapid growth of the private sector in China.
Ross Garnaut is Professor of Economics at the Australian National University and Honorary Professor of the Chinese Academy of Social Sciences. His previous appointments include Australian Ambassador to China and Economic Advisor to the Australian Prime Minister.
Ligang Song is Fellow and Director of the China Economy and Business Program at the Australian National University.
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