Red Capitalism: Growth and Inflation in China
Red Capitalism: Growth and Inflation in China
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DOI:
10.1080/05775132.1994.11471747
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发表时间:
1994-05
期刊:
影响因子:
--
通讯作者:
Eliana A. Cardoso;Shahid Yusuf
中科院分区:
文献类型:
--
作者:
Eliana A. Cardoso;Shahid Yusuf
Alone among socialist countries, China has succeeded in maintaining political stability and achieving an extraordinary economic momentum. Over the past fifteen years, growth has averaged close to 10 percent a year; in 1993, it exceeded 13 percent. China's national income today is larger than that of East Asia's four tigers combined. Between 1978 and 1992, average consumption levels more than doubled, and the share of those living below the poverty line fell to 9 percent of the total population. Industrial competitiveness, as measured by trade performance, has also risen steadily. In 1993, China's total merchandise trade of $196 billion exceeded that of South Korea.This article argues that the Chinese economic miracle has resulted from a strategy that, among other things, made skillful use of the economic base that was created during the Maoist period, and of the neighborhood effects generated by the proximity of the dynamic economies along China's eastern perimeter. The strategy has been composed of six elements: