In Economic Growth and Structural Evolution, the authors propose that China's reform strategy is to promote capital accumulation through a gradual adjustment of its relative price system, enabling the industrial capital to obtain higher profits and thus unleashing the great potential of economic growth. Moreover, the Chinese government prioritizes the growth of different industries at different times through measures such as the dual-track price system leading to the rise of township and village enterprises and the opening up of eastern coastal areas resulting in rapid urbanization and the boom of the real estate industry. This growth pattern has effectively mobilized China's huge labor resources and given full play to its comparative advantages. However, the pattern is not sustainable as government intervention and distorted factor prices have caused growth imbalance. Sustainable growth can only be achieved when the Chinese government shifts its focus from GDP growth to welfare improvement.KEY FEATURES- Written by a group of prominent Chinese economists, the series represents a concerted effort bynative scholars to analyze the 'Chinese Miracle' as well as predict its future development.- Each volume examines different aspects of the reform, such as structural reform, entrepreneurship, local governments, specialized markets, innovation and globalization.- Contains numerous graphs and tables.This title is part of China's Reform Studies Series that include:1. China's Specialized Markets2. Development of China in Modern World System3. Economic Growth and Structural Evolution4. Economic Reform and Institutional Innovation5. Incentives and Governance: China's Local Governments6. The Micro-foundation of China's Market Economy7. Toward an Innovative Nation8. Transformation of the Chinese Enterprises China's Reform Studies SeriesISBN 13: 9789000011216 (set)ISBN 10: 9000011213 (set)List Price: U$1,200.00

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