China's Last Steps Across the River
| Price: $ 32
China¿s economic reforms have been described as an economic miracle. These reforms were largely unplanned; there was no blueprint¿an approach often characterised as ¿crossing the river by grasping the stones¿. This reform approach allowed the growth of the non-state sector while subsidising the state sector. Enterprise and banking reform concentrated on modifying existing institutions without significantly changing ownership. Now, the rising burden of these organisations is seriously endangering China¿s future reforms and growth. This study reviews the evolution of the enterprise and banking institutions, examines the performance of state-owned enterprises and banks, assesses the impacts of the policies and makes recommendations for future reforms.
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