【教学日志】China's Modern Economy

【教学日志】20161017

China's Modern Economy

Summary of today's session

This session we discussed a new topic of the 1978's economics reform in China. This reform had very broad impacts on the society and economy over the past 40 years. Even for the current development, the logic and strategy behind the 1978's reform are still working. Question is whether the reform has a blueprint or plan that time. Deng Xiaoping was called as General designer of the reform. However at the very beginning, Mr.Deng had no clear and solid plan for the whole country. The reason is abvious for that there is no successful experience previously to learn from either socialist or capitalist system. But it's lucy for China the country owned peace and stability relatively even though it just dropped out of the disasterous political movement "Culture Revelution" because of the basic living condition provided for the people after the economy got some achievements. The situation was serious and at the margin of crash. So it's time to carry out some change and then the reform was coming even without any comprehensive planning.

By Li Zhiqing, School of Economics, Fudan University