Civil sector actively develops and changes the property rights of the public sector economy.

Author: Cao Zhenghan
Publisher:
Publish Date: 2006-03-01
Features: Since the late 1970s, one of the fundamental characteristics of China's economic development has been the rise of the private economy and the property rights reform of the public economy. This book primarily analyzes this process of give-and-take and the main forces driving it. The rise of the private economy was directly caused by two fundamental problems that the planned economy system could not solve: the severe shortage of daily necessities and the increasingly severe urban-rural employment pressure. To address these two issues, the central government was forced to shrink the planned economy system, allowing the private economy to take root and develop at the fringes of the planned economy. In the second part of this book, it will specifically analyze how the shortages and employment pressures of the planned economy era led to the rise of the private economy.