The Political Economy of China's Great Transformation

This book consists of three parts. First, it covers the current political transformation in China, providing a general political background for the socio-economic, fiscal and urban and rural transformation. Thereafter, the book moves on to analyse the economic transformation, addressing the shortcomings of existing interpretations of the "Chinese Miracle" as well as showing how the private sector has been developing and what a major role it is playing in pushing forward the overall economic development. The last portion focuses on the analysis of the fiscal transformation and further elaborates on topics such as the local government debt and explains why further reforms are necessary.