This book is about where to go and what to do in China's reform. Its comprehensive overview and economic analysis of China's reform offers a coverage not found in other English language text. It provides an overview of China's development and reform practice, an economic analysis of China's market-oriented reform and a brief introduction to the theoretical origin, practices, and defects of the planned economy. In so doing, this book demonstrates that the key to the success of China's reform lies in drawing reasonable governance boundaries between government and the market and between government and society. It further discusses the basic elements required for modernizing China's state governance system and conducts an analysis of China's reform and development in 13 key fields. The analysis is based on three dimensions-theoretical logic, practical knowledge, and a historical perspective. This book proposes three elements of comprehensive state governance-inclusive economic institutions; the state capacity to plan and implement policies and laws; and an inclusive and transparent civil society with democracy, the rule of law, fairness, and justice. Its analysis also features the novel application of mechanism design theory by employing the two core ideas of information and incentives and a new research methodology consisting of "three dimensions and six natures".
This book reviews and grasps China's reform through a qualitative analysis of economic theories and an empirical analysis of statistics from a historical perspective spanning over 180 years. It is proposed to be an important reference for understanding the past, present, and future of China's reform and teaching about the potential economic superpower. It can also serve as an essential resource for those who are interested in China's economic reform and development.
Guoqiang Tian is Alfred F. Chalk Professor of Economics at the Department of Economics of Texas A&M University. His research interests include economic theory, mechanism design theory, game theory, auction theory, matching theory, mathematical economics, economic transition, and the Chinese economy. He has published over 100 articles in major international journals and more than 100 articles in leading Chinese journals. He is a recipient of the 16th Sun Yefang Award, China’s highest honor in economic science, for the Chinese version of this book.
Xudong Chen is an Associate Research Fellow and Assistant to the Dean of the Institute for Advanced Research at Shanghai University of Finance and Economics. He focuses on history of economic thought and the Chinese economy in his research. He has published about 30 articles in leading Chinese academic journals, such as the Economic Research Journal and Academic Monthly. He is a recipient of the 16th Sun Yefang Award forthe Chinese version of this book.
