Demystifying the Chinese Economy
by Justin Yifu Lin
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China was the largest and one of the most advanced economies in the world before the eighteenth century, yet declined precipitately thereafter and degenerated into one of the world's poorest economies by the late nineteenth century. Despite generations' efforts for national rejuvenation, China did not reverse its fate until it introduced market-oriented reforms in 1979. Since then it has been the most dynamic economy in the world and is likely to regain its position as the world's largest show more economy before 2030. Based on economic analysis and personal reflection on policy debates, Justin Yifu Lin provides insightful answers to why China was so advanced in pre-modern times, what caused it to become so poor for almost two centuries, how it grew into a market economy, where its potential is for continuing dynamic growth and what further reforms are needed to complete the transition to a well-functioning, advanced market economy. show lessTags
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15 Works 131 Members
Justin Yifu Lin, a former chief economist and senior vice president at the World Bank, is Professor and Honorary Dean of the National School of Development, Peking University, and the founding director of the China Center for Economic Research. He received an MBA degree from National Chengchi University in 1978, a Master's degree in political show more economy from Peking University in 1982, and a PhD in economics from the University of Chicago in 1986. He was one of the first PRC citizens to receive a PhD in economics from University of Chicago and is a leading Chinese economist. He serves as a consultant to major international organizations and is on the editorial board of several international academic economics journals. show less
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