Stable Expansion for the Chinese Economy: Lessons from International Experience

Abstract

With some brief interruptions, economic development of China has proceeded on a remarkably steady path, ever since the time of reform, 1978. That makes the period just short of two decades, a long period of significant expansion on a world scale, yet one that has not yet come to a concluding phase of high living standards for the very large population. China is becoming an industrial nation at a high level on an international scale, but not yet in a class with the most advanced industrial nations and not yet in a mature phase of industrial development.

An earlier draft of the paper was presented at the CASS conference, Behai City, 2–4 September 1997.