DEV STD C10 Lecture 15: 3/9
10 Mar 2017
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Document Summary
Fixed asset formation: rapid urbanization and rural urban migration. Hokou system: you are registered in the place you were born, so people were illegally moving to cities. Xi: has been accumulating power since 12/13. Unprecedented economic growth coupled with human development since. 1978, which was expert and margie oriented on a foundation of socialism/communism. Market growth was under a centralized and non democratic state. Why didn"t china turn out like russia (shock therapy: western economists came in, produced a large economic recession) China and the west and the rest. China"s growth part of an east asian growth machine. China is the second largest economy at . Talk of it going off the rails, development but brittle development. Sustained gdp growth especially since 1978: during mao-ist period things were put in place that were necessary to sustain the economic boom. Gdp increases by 900% in 12 years. Rolled through 2008 crisis: they were affected but by 2009 they rolled through it.
