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"Gradualism" as a peculiar political feature in Сhina's transition economy

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  • V. Velichko

Abstract

The paper is devoted to gradualism in the processes of transition in modern Chinese economy. Some major outcomes in research of gradualism features are presented, first of all - in transformation to the socialist market economy with "Chinese characteristics". Stated that this was accompanied by a development of a centralized, planned model towards the modern market one - a synthesis of state regulation and market self-regulation. Stressed that the above mentioned transformation should not be mechanically associated with the development because the processes of transformation and development are different in their content and structure, being the former (gradualism or transformation) crucial for economies in transition and the latter (development) - for developing countries. Concluded that socio-economic system in China continues to change in evolutionary way. Reforms are mostly structural and not systemic in nature. As a result of the reforms, the state or all-people's ownership could lose its leading role only in longer term, and the political system for a long run will not undergo any notable transformations.

Suggested Citation

  • V. Velichko, 2015. ""Gradualism" as a peculiar political feature in Сhina's transition economy," Economy and Forecasting, Valeriy Heyets, issue 4, pages 133-148.
  • Handle: RePEc:eip:journl:y:2015:i:4:p:133-148
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