Globalisation meets its match: lessons from China’s economic transformation

Lo, Dic; Zhang, Yu

Abstract

The sustained and rapid growth of the Chinese economy
in the last three decades has been in sharp contrast to
the prolonged stagnation in most parts of the nonwestern
world. The persistence of a mixed economic
system despite market reforms further contradicts the
orthodox doctrines of globalisation. This study argues
that China’s economic transformation has been mainly
based on productivity improvement and is thus to
a significant extent a real development. It has been
achieved mainly through a process of “governing the
market” by a set of structural-institutional factors that
are China-specific but can be of general importance for
late development worldwide.

Citation

Lo, D., & Zhang, Y. (2008). Globalisation meets its match: lessons from China’s economic transformation. Economic and political weekly, 43(52), 97-102

• Journal Article Type: Article
• Publication Date: Dec 1, 2008
• Deposit Date: Sep 15, 2011
• Journal: Economic and Political Weekly
• Print ISSN: 0012-9976
• Electronic ISSN: 2349-8846
• Peer Reviewed: Peer Reviewed
• Volume: 43
• Issue: 52
• Pages: 97-102