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Following Deng Xiaoping's economic reform and opening (Gaige Kaifang) policy, China experienced unprecedented high growth for over three decades. Crucial in the process was the role of Zhu Rongji, who was hand-picked by Deng initially as Executive Vice-Premier and later full Premier to carry through the needed reform and manage the critical marketization process through the turbulent 1990s when China's economy suffered many ups and downs. Dubbed as China's "Economic Czar", Zhu tackled many thorny problems associated with the country's then half-reformed economy ably and effectively, thereby laying the ground for subsequent periods of greater dynamic growth. Zhu was instrumental in preparing China's economy for its final take-off.
The chapters in this volume were originally written as "policy briefings" for the Singapore government from 1997 to 2003 when Zhu was Premier. They cover a wide variety of topics including how he had applied his own way of "macroeconomic control" (Hongguan Tiaokong), how he went about reforming taxation, foreign exchange and state-owned enterprises, and finally his embrace of capitalism. Each chapter is preceded by a detailed introduction highlighting the main issues and interpreting them from today's perspective based on updated information and additional new research.
Taking Stock of China's Past Economic Growth and Its Future Prospects
Zhu Rongji and China's Economic Transformation
Good Political Arithmetick for the 1997 Fifteenth Party Congress
Interpreting Zhu Rongji's Economic Strategies for the 1990s
Why China had not been Asia's Next Financial Domino
China's Economy 1999: Bottoming Out from Asian Financial Crisis Low
Analyzing the Sources of China's High Economic Growth
Growth and Change of China's Service Sector
Speeding Up State-Owned Enterprise Reform
Banking Reform and Financial Liberalization as Unfinished Business
A Looming Debt Crisis for the State Banks
Rapidly Changing Export Structure
Going Global: Rising Overseas Direct Investment
China's Economy 2003: Poised for Next Lap of High Growth
Population Transition from Rapidly Declining Fertility Rates
Incorporating Capitalism and Embracing the Capitalists
Readership: Academics, professionals, policy makers, undergraduate and graduate students interested in China's economic development and problems.
First scholarly attempt to discuss Zhu Rongji's critical role in China's economic reform and development and his contribution to China's economic take-off
Up-to-date research on China's deep-rooted economic problems throws light on the challenges currently faced by Xi Jinping