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Mostrando entradas de mayo, 2015

Learning from success: China’s development miracle

Made in China

Since initiating market reforms in 1978, China has shifted from a centrally planned to a market based economy and experienced rapid economic and social development:
GDP growth averaging about 10 percent;The most dramatic reduction in poverty.
It's economy has been growing so fast that, even though inequality is rising fast, extreme poverty is disappearing. China pulled 400m people out of misery in 1981-2010, and reduced its extreme-poverty rate from 53% in 1981 to 8% in 2011.
China’s great success in growth and poverty reduction it is not in question.

Source of success
For such a stunning record, the roots of China’s success remains a source of disagreement. 
Manufactured exports are a key to Chinas growth;Market incentives has played primary motivational role in business decisions;Activist industrial policies, pushing exports of increasingly high skill and technology content in 1980ties before significant trade liberalization.Rural township and village enterprises whi…