1st Edition

The Road Leading to the Market

By Zhang Weiying Copyright 2017
    178 Pages
    by Routledge

    178 Pages
    by Routledge

    Since the reform and opening up period, the world has witnessed a transformation within China. This transformation has led millions out of poverty within China and has in recent years seen China as an important and vital engine of economic growth for the rest of the world. While China has made great strides in embarking on the road to a market economy, this book emphasizes that transformation within China to market-driven development is far from over.

    In this book, Zhang puts forward the idea that the reform in China has now reached a crossroads. The next steps have a bearing not only on the sustainability of past reform but even on whether China will become a veritable world power in the future. With the reform at this pivotal juncture, this book explores further reform within China and examines how the reform debate will develop.

    The Road Leading to the Market is a highly readable collection of essays which will appeal to researchers and students of China’s economy and a globalized economy.

    Part one: the power of the market.  1. The power of the market.  2. Why do human beings make mistakes?  3. From Lao-tze to Adam Smith.  4. How to establish market: from privileges to rights.  5. The harm of the corruption of language.  6. Social capital and culture.  7. Three essentials factors for a harmonious society.  Part two: the logic of reform.  1. How to understand China's economic reform.  2. From a position-based economy to a property-based economy.  3. How to correctly handle the relation between government and market?  4. Harmony presupposes development.  5. China's stock market: regulation and reputation.  6. What has China's accession to the WTO brought to us?  Part three: transition of growth patterns.  1. Economic reflection on the financial crisis.  2. Watch out for the next crisis.  3. A return to Adam Smith and a farewell to Keynes.  4. Grasp the overall situation and driving forces of China's economy.  5. What will China's economic transition hinge on?  6. Help entrepreneurs build up confidence in the future.  Part four: the prospects for state-owned enterprises.  1. Dominance of state-owned economy leads to unfair competition.  2. Promoting privatization of state-owned enterprises is more beneficial than turning in more profits. 3.On corporate scandals and corporate governance.  4. Why not allow users to be shareholders of telecommunications corporations?  5. Problems with China's medical system are induced by government monopoly.  6. Three things that must be accomplished by economic reform within the next decade.  Part five: the lifeblood of enterprises.  1. Seek a business model for green economy.  2. The everlasting key to enterprise development lies in incessant innovation.  3. How private enterprises grow bigger and stronger.  4. Where is the room for local enterprises?  5. Management in the age of innovation.  6. Two essential capabilities an enterprise must foster.  7. Entrepreneurs with thinking power look further.  Part six: choices for the future.  1. What should China's reform focus on in the following thirty years?  2. The ideas of politicians.  3. The rise of China relies on transformation of Chinese government.  4. The future world pattern hinges on China's reforms.  5. Entrepreneurs and Taiwan's democratization.  Index


    Zhang Weiying holds a Ph.D. in Economics from Oxford University, is a co-founder of the China Center for Economic Research (CCER) at Peking University, a former president of Guanghua School of Management at Peking University, a former vice director of the International Association for Chinese Management Research (IACMR) and is vice chairman of Chinese Economics. He is well known for his contributions to macro-control policy debating, ownership reform debating, and entrepreneurship studies. He has published numerous articles in some of the top international journals such as Journal of Economic Behavior and Organization and Journal of Comparative Economics. He is also the author of several well known books such as Price, Market and Entrepreneurs, The Logic of the Market, and What has Changed China. He has been the most cited economist in Chinese academic journals since 1995.

    Translator: Gao Qian (高乾) is an Associate Professor in School of Foreign Languages, Hangzhou Normal University. His main research interests lie in the studies of contemporary Western translation theories, as well as translation education.