POLB91H3 Final: POLB91 Exam Notes
Document Summary
Week 9: describe the economic reform in china. What was the economy transitioning from and to: relevant author: barry naughton, in discussing the economic reform in china, there are 2 different stages that one can examine the process through, stage 1. During this stage, the main goal was to introduce market elements into the planned economy. The outcome of this was that china gradually grew out of its planned economy. Command economy - key elements of this time were that the industries belonged to the state, there were state enforced production targets, and prices were fixed: stage 2. Reform after 1993 clearly imposed significant losses on substantial social groups most directly affected were state enterprise workers, who had been a relatively privileged group in the past. During this stage, the main goal was to speed up the transition to a market economy regardless of whatever the costs may be to reach such a stage.
