Sara Hsu

 “China Model”  Colonialism and Communism  Planned economy  Mao’s death

 1978 through 1989 Third Plenum Household Responsibility System Decentralization State Owned Enterprises Tiananmen Square

 1992 to 2001 Deng’s Southern Tour in 1992 Elimination of dual-track system Privatization Trade decentralization Foreign direct investment Banking reform

 2001 to Present WTO entry Scaling up in export value chain Minimum wage changes Impact of the Great Recession

 Political barriers to reform  Dominance of the Party

 China’s gradualist approach to reform helped the country closely guide the economy toward successful developments and avoid domestic political conflict  Rural, urban, trade and financial sector reforms were all components of planning.

 China’s latest Twelfth Plan has sought to increase production in all three sectors- agriculture, manufacturing, and services.  The plan attempts to equalize standard of living among rural residents, rural migrants, and urban residents.

 Questions?