China’s reform, opening-up and resultant economic growth in the past 40 years provide a new constellation of experience we can study to understand the nature of modern economic growth. This chapter describes the process of reform and opening-up of the economy, and its nexus to accelerated economic growth. It describes and provides some data on the experience of trade and growth over the past 40 years. It sketches some of the main elements of reform, changes in incentives that have driven economic growth, changes in economic structure that have followed and the rising role of China in the global economy. It highlights new challenges that China faces after 40 years of reform.
|Title of host publication||China's Forty Years of Reform and Development: 1978-2018|
|Editors||R Garnaut, L Song & C Fang|
|Place of Publication||Australia|
|Publication status||Published - 2018|