The re-emergence of private enterprises is one of the most important factors in China's recent economic development. They will play a key role in maintaining China's high growth rate and honouring its commitments to the WTO. Despite this they face obstacles to growth, including borrowing restrictions, high taxes, ineffective legal protection and lack of technical and information support. The authors in this book discuss these obstacles and propose measures for improving private enterprise development. They consider how private enterprises can help China mitigate its macroeconomic problems, such as unemployment, income inequality, financial disintermediation and cyclical boom and bust. Finally they examine the lessons to be learnt from other countries in promoting privatization.
Shuanglin Lin is Ward Lindley and Gorge Lindley Professor in the Department of Economics at the University of Nebraska, USA, Peking University, China and Shunfeng Song is Professor in the Department of Economics, University of Nevada, USA.
'I would not hesitate to recommend this volume to students of business management and political economy.' China Review International