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Final Conclusions

In: State Failure and Distorted Urbanisation in Post-Mao's China, 1993–2012

Author

Listed:
  • Yazhuo Zheng

    (Beijing Enlightenment Institute for Economic and Social Research)

  • Kent Deng

    (London School of Economics)

Abstract

In this chapter, we attempt to define ‘state failure’ and make some concluding remarks. In our opinion, the term ‘state failure’ here means that despite the range of state efforts to generate more GDP via urbanisation, both China’s market sector and macroeconomic structure macro-economic structure have been severely distorted. As a result, the economy is facing a major crisis stemming from its unprecedented and self-inflicted financial difficulties. China’s recent miracle growthgrowth has not been value-free or crisis-exemptible. Instead, the growth has been a result of a wide range of distortiondistortion s regarding resource allocationresource allocation , macroeconomic structure economic structure , production capacityproduction capacity and income distributionincome distribution .

Suggested Citation

  • Yazhuo Zheng & Kent Deng, 2018. "Final Conclusions," Palgrave Studies in Economic History, in: State Failure and Distorted Urbanisation in Post-Mao's China, 1993–2012, chapter 8, pages 135-147, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-319-92168-6_8
    DOI: 10.1007/978-3-319-92168-6_8
    as

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