China Capitalism

Abstract

The recent economic and financial crises, austerity, and unemployment around the world have triggered scholars to reexamine the fundamentals of capitalism and think about better alternative economic systems for this world to be built on. The Chinese economy has been growing in the double digits for three straight decades since 1978, and 600 million people were lifted out of poverty. China is now the second largest economy of this world. In his recent report, President Hu Jintao announced the goal of doubling China’s 2010 GDP and average income by 2020, which is based on an average growth rate of 7 percent for the coming decade. This symposium provides a forum for discipline-based discussions and debates on the distinctive features of China Capitalism, its future, and its implications for “developed” countries that have suffered severely from the economic and financial crisis since 2008 and “developing” countries that aim to become “developed” countries. The Resurgence of Private Entrepreneurship after Mao China: A Hibernated Legitimacy Perspective Presenter: Hongwei Xu; INSEAD Presenter: Litao Zhao; National U. of Singapore The Underestimated Features of China’s Economic Reform Presenter: Douglas Guthrie; George Washington U. The Rise of the Bureaucratic State and Its Implications for China’s Future Presenter: Xueguang Zhou; Stanford U. Debating China Capitalism Presenter: Yasheng Huang; MIT Sloan