On the Breakout of Chinese Economy

Reform has long been a consensus in China, but after decades of rapid growth, there still remain numerous intractable barriers and institutional constrains to solve, and new problems are continuously emerging, all these hinder the implementation of China’s deepening reform. How can China break out of those encirclements? This book is a collection of the author’s articles on China’s experience of social and economic reform which proposed that new momentum is needed for an overall deepening of reform. Based on his years of research on real-world economics in rural land reform, state-owned enterprises reform, urbanization and urban governance, technology innovation and industrial upgrading, the author introduces the concepts of state and market, firm and law, property rights and contracts, transaction cost and system cost, comparative advantage and competitive advantage etc. Whether the momentum of reform can penetrate multiple levels of complex networks, from the top to grassroots and local to central, is a decisive factor in China’s deepening reform. This penetrating power has the connotation of the comprehensive decision making, technological innovation, and optimism in the face of uncertainty. Reform seeks to break, while innovation seeks to create. The future is better than one thinks.