Reasons For Success
Scholars have proposed a number of theories to explain the success of China's economic reforms in its move from a planned economy to a socialist market economy despite unfavorable factors such as the troublesome legacies of socialism, considerable erosion of the work ethic, decades of anti-market propaganda, and the "lost generation" whose education disintegrated amid the disruption of the Cultural Revolution. One notable theory is that decentralization of state authority allowed local leaders to experiment with various ways to privatize the state sector and energize the economy. Although Deng was not the originator of many of the reforms, he gave approval to them. Another theory focuses on internal incentives within the Chinese government, in which officials presiding over areas of high economic growth were more likely to be promoted. Scholars have noted that local and provincial governments in China were "...hungry for investment" and competed to reduce regulations and barriers to investment to boost economic growth and the officials' own careers. A third explanation believes that the success of the reformists are attributable to Deng's cultivation of his own followers in the government. Herman Kahn explained the rise of Asian economic power saying the Confucian ethic was playing a "similar but more spectacular role in the modernization of East Asia than the Protestant ethic played in Europe".
China's success is also due to the export-led growth strategy used successfully by the Four Asian Tigers beginning with Japan in the 1960s - 1970s and other Newly industrialized counties.
The collapse of the Soviet Bloc and centrally planned economies in 1989 renewed impetus in the China to further reform its economy in a different course to avoid the same fate. China also wanted to avoid the Russia under Boris Yeltsin with ad-hoc experiment with market capitalism which resulted in the rise of powerful oligarchs, corruption and loss of state revenue which exacerbated economic disparity.
Read more about this topic: Chinese Economic Reform
Famous quotes containing the words reasons for, reasons and/or success:
“Write to the point: say immediately what you want to say most, even if it doesn’t “come first.” There are three reasons for doing this. First, you will then have said it, even if nothing else gets said. Second, your readers will then have read it, even if they read no more. Third, having said it, you are likely to have to say something more, because you will have to explain and justify what you chose to say.”
—Bill Stott (b. 1940)
“The lore of our fathers is a fabric of sentences.... It is a pale gray lore, black with fact and white with convention. But I have found no substantial reasons for concluding that there are any quite black threads in it, or any white ones.”
—Willard Van Orman Quine (b. 1908)
“We talked about and that has always been a puzzle to me
why American men think that success is everything
when they know that eighty percent of them are not
going to succeed more than to just keep going and why
if they are not why do they not keep on being
interested in the things that interested them when
they were college men and why American men different
from English men do not get more interesting as they
get older.”
—Gertrude Stein (1874–1946)