(Ebook) The Chinese Economy, second edition by Naughton, Barry ISBN 9780262534796, 0262534797

(Ebook) The Chinese Economy, second edition by Naughton, Barry ISBN 9780262534796, 0262534797

For the past 35 years, China has been the best-performing economy in the world.China’s gross domestic product (GDP) has grown faster for longer than that of anyother economy in history. Furthermore, the Chinese economy is now huge, compa-rable in size and global impact only to that of the United States. China is now a driverof the world economy, in part because it has benefited enormously from the wave ofglobalization that has washed over the world in the past three decades.How has China achieved this extraordinary economic success? China is not anobvious candidate for prosperity, in the way that the United States and other “luckycountries” are. China has faced development problems that today’s rich countriesnever had to face. Bringing its massive population out of poverty required China toovercome daunting geographic and resource limitations. China entered its rapidgrowth period far behind technologically and without the institutional frameworkand rule of law that rich countries had developed over centuries to support theirsophisticated market economies. Yet China dismantled the socialist “command”system, created a dynamic market economy, and vaulted into the ranks of upper-middle-income economies....