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Economic Reform and Openness in China: China's Development Policies in the Last 30 Years

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  • Tisdell, Clement A.

Abstract

This article adopts the point of view that China’s development policies can only be appreciated if they are considered by applying perspectives from institutional economics. This requires attention to be given to the historical, political and cultural context in which its economic development has occurred. Therefore, this article gives attention to the political events leading up to China’s decision in 1978 to begin its economic reforms and the way in which Deng Xiaoping crafted its new development path. It also discusses the subsequent extension of Deng’s development policies by more recent leaders of the Chinese Communist Party. Indicators of China’s economic progress (including its increasing economic openness) since 1978 are given, and its emerging economic issues and concerns are highlighted. The concept of ‘market socialism with Chinese characteristics” is analysed and consideration is given to the economic challenges now facing China as a result of the global economic recession and the way it is responding to these challenges. In conclusion, the article touches on China’s economic and political future and its growing international status.

Suggested Citation

  • Tisdell, Clement A., 2009. "Economic Reform and Openness in China: China's Development Policies in the Last 30 Years," Economic Theory, Applications and Issues Working Papers 90624, University of Queensland, School of Economics.
  • Handle: RePEc:ags:uqseet:90624
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    File URL: http://purl.umn.edu/90624
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    References listed on IDEAS

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    1. Alauddin, Mohammad & Tisdell, Clement A., 2006. "Students' Evaluation of Teaching Effectiveness: What Surveys Tell and What They Do Not Tell," Economic Theory, Applications and Issues Working Papers 90546, University of Queensland, School of Economics.
    2. Alauddin, Mohammad & Tisdell, Clement A., 2009. "Quantitative Impacts of Teaching Attributes on University TEVAL Scores and their Implications," Economic Theory, Applications and Issues Working Papers 90621, University of Queensland, School of Economics.
    3. Tisdell, Clement A. & Alauddin, Mohammad, 2002. "Market-Oriented Reforms in Bangladesh and their Impact on Poverty?," Economic Theory, Applications and Issues Working Papers 90521, University of Queensland, School of Economics.
    4. Tisdell, Clement A., 2005. "An Overview and Assessment of The Economics of Leisure," Economic Theory, Applications and Issues Working Papers 90540, University of Queensland, School of Economics.
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    Cited by:

    1. Clem Tisdell, 2013. "Agriculture, structural change and socially responsible development in China and Vietnam," Chapters,in: The Asian Century, Sustainable Growth and Climate Change, chapter 1, pages 11-25 Edward Elgar Publishing.
    2. Kefei You & Nicholas Sarantis, 2013. "Structural breaks, rural transformation and total factor productivity growth in China," Journal of Productivity Analysis, Springer, vol. 39(3), pages 231-242, June.
    3. Fadun Solomon Olajide, 2014. "Cultural Awareness, a Form of Risk Management in International Business: Case Study of China," Business and Economic Research, Macrothink Institute, vol. 4(1), pages 266-288, June.
    4. Roberto Casarin & Komla Mawulom Agudze & Monica Billio & Eric Girardin, 2014. "Growth-cycle phases in China�s provinces: A panel Markov-switching approach," Working Papers 2014:19, Department of Economics, University of Venice "Ca' Foscari".

    More about this item

    Keywords

    China; developmental states; economic development; economic reforms; institutional economics; market socialism; International Development; Political Economy; P00; P20; P26; P27; P30; O10; O20.;

    JEL classification:

    • P00 - Economic Systems - - General - - - General
    • P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
    • P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
    • P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects
    • P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

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