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.

This book illustrates the decline of the state-encouraged revival and legitimization of private enterprises in 1980s China. Chen argues that the rapid growth of private enterprises strengthened the fiscal power of the state, leading the Chinese government to take an increasingly interventionist stance.

A theoretical and political magazine of scientific socialism.

“[John Naisbitt’s] vision of the world’s economy has the mark of genius.” —Minneapolis Star Tribune Internationally-renowned futurist and bestselling author John Naisbitt is back with China’s Megatrends, the most comprehensive look at the present and future of China and the transformation that is reshaping its economic, political, and social systems. Since publishing the enormously popular Megatrends—a New York Times bestseller for two years that has been published in 57 countries—John Naisbitt has become the most respected and well-known prognosticator of global trends. To write China’s Megatrends, Naisbitt and wife Doris were granted unprecedented access by the Chinese government to all aspects of the country and its social model. Using the same techniques of information gathering and analysis as Megatrends, the Naisbitts present a prescient and unique perspective on the emergent global power and its role in the future of globalization.