Synopsis: China's transition to a market economy has propelled its remarkable economic growth since the late 1970s. In this book, Nicholas R. Lardy, one of the world's foremost experts on the Chinese economy, traces the increasing role of market forces and refutes the widely advanced argument that Chinese economic progress rests on the government's control of the economy's commanding heights. In another challenge to conventional wisdom, Lardy finds little evidence that the decade of the leadership of former President Hu Jintao and Premier Wen Jiabao (2003–13) dramatically increased the role and importance of state-owned firms, as many people argue. This book offers powerfully persuasive evidence that the major sources of China's growth in the future will be similarly market rather than state-driven, with private firms providing the major source of economic growth, the sole source of job creation, and the major contributor to China's still growing role as a global trader. Lardy does, however, call on China to deregulate and increase competition in those portions of the economy where state firms remain protected, especially in energy and finance..
Proin tempus, ipsum ut suscipit cursus, leo lorem luctus ante, ut consequat turpis turpis vel diam. Maecenas sit amet tristique leo, at egestas nisi. Aenean ultricies nisl justo, quis dictum metus accumsan eu. Pellentesque vitae accumsan felis, sed imperdiet sem. Vestibulum facilisis dolor vel pellentesque feugiat. Proin sed erat ac ex condimentum imperdiet. Praesent odio ipsum, fringilla sed bibendum ac, feugiat ut est. Donec non ex non elit volutpat semper vel nec quam. Suspendisse mattis semper erat et imperdiet. Aliquam erat volutpat. Nulla eu elit vulputate, feugiat ipsum a, posuere neque. Mauris at justo quis diam cursus volutpat. In sit amet sem dictum, convallis tellus ut, porttitor augue. Phasellus quis ultricies lacus. Proin iaculis placerat cursus. Vivamus vehicula vestibulum ligula, aliquam dictum ex tempus ac.
Vivamus accumsan, dolor eget lacinia vulputate, massa odio faucibus elit, at volutpat lorem sapien eget purus. Pellentesque ac eros dictum urna porta ullamcorper at sed dolor. Duis quis porttitor tellus. Suspendisse placerat rhoncus efficitur. Ut sem nisl, consequat eget mauris et, maximus tristique nibh. Donec ac nisi at tellus interdum ullamcorper ut ac sapien. Nullam ultricies porttitor lacus. Praesent in euismod elit. Etiam eget nulla sit amet dui interdum fringilla aliquam sagittis orci. Phasellus tristique lorem eget hendrerit gravida. Sed pretium, leo nec placerat sollicitudin, libero libero varius nulla, scelerisque elementum purus leo vel erat. Ut auctor nisl elit, non dignissim ligula laoreet eget. Vestibulum pharetra sagittis maximus. Praesent ultricies varius accumsan. Cras interdum in orci a congue. Sed mattis hendrerit sapien eu ornare.