Managed Chaos reads into the resounding events of Chinese politics and economy, ending the schizophrenia that the readers have lived with. It delves deep into both elements: the economic narrative that China has sustained a near 10 percent growth rate for 30 years and the political narrative that China is an increasingly fragile state, trapped in an incomplete transition from a totalitarian to a democratic market economy. For the first time, in his reading of China, the author consolidates this paradox by inferring that the cause behind both the growth and the political discontent is the politics of China.

‘Cadre’ Capitalism

‘Cadre’ capitalism

The third, and the most misleading, myth is that China owes its near-miraculous performance to privatization. According to this version of events, while the state-owned enterprises (SOEs) failed to meet the challenge posed by the phased dismantling of the planned economy and the emergence of competitive product markets, a newly born ‘non-state’ or ‘private’ sector rediscovered the Chinese genius for enterprise and led the explosion of growth that followed. So successful was this new sector that unlike Russia, most of Eastern Europe and many other nations in transition, structural adjustment did not lead to even a temporary collapse of the economy or hardship to the people. On the contrary, the economic growth that followed was not only spectacular but also extraordinarily smooth. ...

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