The China Miracle: Development Strategy and Economic Reform
- Description:
- Impressions:
The revised edition of The China Miracle by Justin Yifu Lin, Cai Fang, and Li Zhou updates and expands one of the most influential works on China’s economic reform. The book explains how China’s remarkable growth emerged from a pragmatic strategy: gradual reform, adherence to comparative advantage, and the development of labor-intensive industries. The revised edition incorporates new data and analysis, reflecting lessons learned since the 1990s. It highlights how the balance between state guidance and market forces allowed China to avoid the pitfalls of “shock therapy” while sustaining long-term growth. Combining theory, empirical evidence, and policy insights, this edition solidifies the book’s status as a cornerstone in understanding China’s reform path.
