Education
Wu graduated from Fudan University with a degree in economics in 1954. He later attended the Institute of Economics at the Chinese Academy of Social Sciences.
(This book provides the most insightful and comprehensive ...)
This book provides the most insightful and comprehensive examination of China's strategy and implementation of its economic reform. When history is written China's remarkable transformation may prove to be the 21st century's most compelling theme. The author, Jianlian Wu, is the principle reason why anyone interested in the world ecomomy or global financial developments must read or be aware of this book. Professor Wu alone possesses an authority regarding these developments because of the influential role he has and will continue to play in China's economic reform. Seldom are such books written with this level of authority. We have a story of which we all must be aware being written by one its most important architects. It is as if we had access to Alexander Hamilton when he helped form Americas economic system.
http://www.amazon.com/gp/product/1587991977/?tag=2022091-20
敬琏 吴
Wu graduated from Fudan University with a degree in economics in 1954. He later attended the Institute of Economics at the Chinese Academy of Social Sciences.
Wu offered a thorough description of the progress and pitfalls of the past few decades of Chinese economic reform. He believed the initial attempts to decentralize power into lower levels of administration were flawed, and that the tumult caused by decisions based on poor market information and lack of budget constraint had led to a protracted period of reform that was never fully effective.
According to Wu, the real Chinese economic reform began in 1978. In this period, reform measures were incrementally installed with mixed results. Early on, the thrust was centered on state-owned enterprises. However, a lack of market competition and a demand-based pricing system meant that little was accomplished. As the focus shifted to non-state enterprises and other peripheral areas, the first significant growth began to appear.
While avoiding troubles associated with over-enthusiastic public enterprise reform, such measures created a dual-track system, which deprived non-state enterprises of much needed resources and created a fertile ground for corruption. Wu believed that those factors combined with rapid growth and insufficient macroeconomic control were undermining China’s economic stability. It is only since 1993 that significant dedication to reform is evidenced in China. Not only were major reforms to be enacted in fiscal and tax policies, but even banking, foreign exchange, and social security were included in the scope of policy changes. It was during this time that the significant changes necessary for stabilization were set in motion.
It is only due to Professor Wu’s close involvement with the reform processes that he is able to write with such authority. He is in a unique position to reveal how piecemeal reform was counter-productive and often lent political capital to opponents of liberal reform. The ability to draw on this rich experience shows how Wu Jinglian is a scholar and politician of extraordinary caliber.
(This book provides the most insightful and comprehensive ...)