China's Third Economic Transformation: The Rise of the Private Economy

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Ross Garnaut, Ligang Song
RoutledgeCurzon, 2004 - Business & Economics - 246 pages
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The Chinese economy is currently undergoing an institutional transformation as profound as the replacement of the people's 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 country's 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 How the legal environment has changed through economic reform Managerial capabilities and state-business interactions Suggestions of policy recommendations Perhaps controversially, the contributors suggest that private sector development is necessary to maintain the dynamism of the Chinese economy and create greater employment opportunities. China's 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.

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About the author (2004)

Ross Garnaut AO is a Vice Chancellor's Fellow and Professorial Fellow in Economics at the University of Melbourne and a Distinguished Professor at the Australian National University. He is one of Australia's most distinguished and well-known economists and the author of numerous publications on international trade, public finance and economic development. Professor Garnaut has held many senior roles in business and government, including Australian Ambassador to China 1985 88.

Ligang Song is associate professor at the Crawford School of Economics and Government at ANU, where he directs the China Economy and Business Program.

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