Abstract
Chinese Economic Reform with Chinese Socialism Characteristics
Highlights
One of the most difficult aspects of market transition in all of the formerly socialist economies has been the dramatic shift in macroeconomic regimes
Analysts say that PRC government is determined to keep the economy reviving at a high speed, but is concerned that racing too fast or perhaps too slow, could spoil the party before 2008, when PRC is likely to show case its prowess
It has been proved by China's practice of reform and opening up that capitalist private ownership and socialist public ownership can coexist and be combined in a way of cooperation and joint economic super power The path shown by the second generation of Chinese leaders led by Deng Ziao Ping will take China to the pinnacle of economic success and glory
Summary
Chinese economic reforms unlike Perestroika (so called Russian.economic reform), has been an economic success, generating over two decades of economic growth. The Chinese reform prioritized the agriculture and the light industry sectol; which covered benejt for lot of people. Whatever might be the case the Chinese economy seems to be moving at n speed which is well ahead of the speculations of over heated economy and economic bubble. It has been proved by China's practice of reform and opening up that capitalist private ownership and socialist public ownership can coexist and be combined in a way of cooperation and joint economic super power The path shown by the second generation of Chinese leaders led by Deng Ziao Ping will take China to the pinnacle of economic success and glory. It has been done due to the right and correct usage of the term, "Socialism with Chinese characteristics" in the reality of the Chinese economic context
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