Chinese Economic Development

The book provides a meticulous analysis of economic development and concomitant problems in China since the late 1970s and advances suggestions on further economic modernization and transition from both theoretical and practical angles. Based on theories from development economics and solid empirical studies, the authors, two renowned Chinese economists, provide a perceptive analysis of the Chinese development model in the post-Mao era. They shed light on questions that have perplexed many: how can China sustain the rapid growth of the past forty years; is there a unique China Path to economic progress? They argue compellingly that China's development model has to switch from a manufacturing-driven one to a brand new approach, centering on scientific and technical innovation and the integration of its existing economic structure into an increasingly complex global economy. Such transformation will help overcome the middle income trap while addressing other institutional and economic challenges. The book will appeal to students, scholars and policy makers interested in the Chinese and global economies as well as transnational studies in the post-COVID world. General readers willing to obtain a grasp of Chinese economic development from the insider's perspective will also find it useful.