How Long to Read Economic Lessons from China's Forty Years of Reform and Opening-up

How Long Does it Take to Read Economic Lessons from China's Forty Years of Reform and Opening-up?

It takes the average reader to read Economic Lessons from China's Forty Years of Reform and Opening-up by David Daokui Li

Assuming a reading speed of 250 words per minute. Learn more

Description

This book first shows that the past 40 years of China's economic reform and opening up represents the greatest magnitude of economic growth in history. Based on field trips, extensive and intensive interviews and literature surveys, this book argues that there are five general lessons for a rapid growing economy from China's economic reform and opening up, all in the area of the relationship between the government and the economy. First, the local governments need to be incentivized to help rapid entry and development of enterprises. Second, local governments need to be incentivized to help rapid land conversion from agricultural to non-agricultural. Third, financial deepening is vital; that is, inducing households to hold more and more financial assets in local currency. Financial deepening is essential to convert savings into investments. This requires financial stability, which is crucial. Fourth, the learning through opening up is the key to endogenous economic growth. The fundamental benefit of opening up is learning rather than enjoying comparative advantage. The fifth and final lesson from China is that the central government must proactively manage the macroeconomy. The rationale is that enterprises compete with each other in games of industrial organization. In order to resolve this problem, proactive measures including market-oriented means, administrative orders and reform measures should be implemented. Overall, the main lesson from China's past 40 years of reform and opening up is that proper incentives and behavior of the government, local and central, are important for economic growth. China has been conducting reforms in this regard and as a result, the government more or less has been playing the role of a "helping hand" regarding economic growth, although China's economic system is far from perfect and many reforms are still needed.

How long is Economic Lessons from China's Forty Years of Reform and Opening-up?

Economic Lessons from China's Forty Years of Reform and Opening-up by David Daokui Li is 0 pages long, and a total of 0 words.

This makes it 0% the length of the average book. It also has 0% more words than the average book.

How Long Does it Take to Read Economic Lessons from China's Forty Years of Reform and Opening-up Aloud?

The average oral reading speed is 183 words per minute. This means it takes to read Economic Lessons from China's Forty Years of Reform and Opening-up aloud.

What Reading Level is Economic Lessons from China's Forty Years of Reform and Opening-up?

Economic Lessons from China's Forty Years of Reform and Opening-up is suitable for students ages 2 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Economic Lessons from China's Forty Years of Reform and Opening-up?

Economic Lessons from China's Forty Years of Reform and Opening-up by David Daokui Li is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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