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Central Planning versus Market Economy: A False Dichotomy

October 20, 2015 By Leslie Young

A common view of China’s central planning is that it has failed; since China grew faster when its reforms replaced planning with markets, the sooner China gets rid of Five Year Plans the better. This view is rather simplistic. Evidence shows that the Five Year Plans have played an important role in China’s progress. It was the fastest way for China to mobilize capital and labor for industrialization. And when China transitioned from a planned to a market economy and the two worked in parallel, it maintained employment, livelihoods, infrastructure and the supply of basic goods, hence a stable foundation for the nascent market economy.

Filed Under: Chinese Economy, ExpertSpeak, Know China, Opinion, Policy and Law Tagged With: Central Planning, Chinese Economy, Economic Reform, Five Year Plan, Policy

Getting Away from it All: Chinese New Year Holiday Hordes

February 27, 2013 By Brian Viard

CKGSB, Brian Viard

During Chinese New Year, hordes of travelers rush to tourist attractions. What casues this annual influx and how can overcrowding be avoided? I spent part of the recent Chinese Spring Festival (Chinese New Year Holiday) working with a co-author at Xiamen University. Xiamen is a picturesque coastal town and the university itself draws many tourists […]

Filed Under: All Articles, Employment, ExpertSpeak, Invisible Hand Revealed, Know China, Tourism Tagged With: Central Planning, Chinese New Year, Convex Costs, Invisible Hand Revealed, Overcrowding, Tourism, Vacation

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Information, analysis, and interviews about the Chinese economy and doing business in China, from the people who know it best. Presented by the Cheung Kong Graduate School of Business, China's leading business school.


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