Chinas Long and Winding Road to Modernization: Uncertainty, Learning, and Policy Change

Chinas Long and Winding Road to Modernization: Uncertainty, Learning, and Policy Change interprets contemporary Chinas economic transformation from Austrian and evolutionary perspectives. Fu-Lai Tony Yu and Diana S. Kwan incorporate culture, institutions, government agents and entrepreneurship to understand economic change in China. In this book, Yu and Kwan emphasize the roles of uncertainty, learning and experimentation in policy making. Topics discussed range from a presentation of theoretical frameworks to understand Chinas economic transformation, an account of Chinas economic management during 1950-1978, the economic reformation after 1979 concurrent with Deng Xiaopings Open Door Policy, and Chinas rise as a global power. These topics culminate in the final section of the book which suggests a path for Chinas modernization.