Chinese economic reform

Chinese economic reform
Simplified Chinese改革开放
Traditional Chinese改革開放
Literal meaning"Reform and Opening-Up"
Transcriptions
Standard Mandarin
Hanyu PinyinGǎigé kāifàng
Wade–GilesKai3-ko2 k'ai1-fang4
IPA[kàɪkɤ̌ kʰáɪfâŋ]
Yue: Cantonese
Yale RomanizationGóigaak hōifong
JyutpingGoi2-gaak3 hoi1-fong3
IPA[kɔj˧˥kak̚˧ hɔj˥fɔŋ˧]

The Chinese economic reform or Chinese economic miracle,[1][2] also known domestically as reform and opening-up (Chinese: 改革开放; pinyin: Gǎigé kāifàng), refers to a variety of economic reforms termed "socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of China (PRC) that began in the late 20th century, after Mao Zedong's death in 1976. Guided by Deng Xiaoping, who is often credited as the "General Architect", the reforms were launched by reformists within the ruling Chinese Communist Party (CCP) on December 18, 1978, during the Boluan Fanzheng period.[3][4][5][6] The reforms briefly went into stagnation after the 1989 Tiananmen Square protests and massacre, but were revived after Deng Xiaoping's southern tour in 1992.[7] The reforms led to significant economic growth for China within the successive decades; this phenomenon has since been seen as an "economic miracle".[1][2][8][9] In 2010, China overtook Japan as the world's second-largest economy by nominal GDP,[10][11] before overtaking the United States in 2016 as the world's largest economy by GDP (PPP).[12] On the other hand, a parallel set of political reforms were launched by Deng and his allies in the 1980s, but eventually ended in 1989 due to the crackdown on Tiananmen Square protests, halting further political liberalization.[13][14]

  1. ^ a b Ray, Alok (2002). "The Chinese Economic Miracle: Lessons to Be Learnt". Economic and Political Weekly. 37 (37): 3835–3848. ISSN 0012-9976. JSTOR 4412606.
  2. ^ a b Harrison, Virginia; Palumbo, Daniele (30 September 2019). "China anniversary: How the country became the world's 'economic miracle'". BBC News. Retrieved 26 December 2022.
  3. ^ Faison, Seth (1997-02-20). "DENG XIAOPING IS DEAD AT 92; ARCHITECT OF MODERN CHINA (Published 1997)". The New York Times. ISSN 0362-4331. Retrieved 2021-01-12.
  4. ^ Eisenman, Joshua. "Analysis | What we really know about China's Reform and Opening Up". The Washington Post. ISSN 0190-8286. Retrieved 2021-01-12.
  5. ^ Ezra F. Vogel, Deng Xiaoping and the Transformation of China (2011).
  6. ^ "关于"总设计师"称谓提法的来龙去脉" [Details regarding the name of "General Architect"]. People's Net (in Chinese). 2016-06-30. Archived from the original on 2020-07-12. Retrieved 2021-01-12.
  7. ^ "The inside story of the propaganda fightback for Deng's reforms". South China Morning Post. 2018-11-14. Archived from the original on 2018-11-13. Retrieved 2020-05-01.
  8. ^ Lin, Justin Yifu; Cai, Fang; Li, Zhou (2003). The China Miracle: Development Strategy and Economic Reform (Revised ed.). The Chinese University of Hong Kong Press. ISBN 978-962-201-985-0. JSTOR j.ctv1fj84hd.
  9. ^ Nayar, Baldev Raj (December 2007). "Chapter 10 China's Economic Miracle". The Geopolitics of Globalization: The Consequences for Development. Oxford University Press. pp. 181–216. ISBN 9780195672022.
  10. ^ Barboza, David (2010-08-15). "China Passes Japan as Second-Largest Economy". The New York Times. ISSN 0362-4331. Retrieved 2020-05-03.
  11. ^ "China overtakes Japan as world's second-largest economy". The Guardian. Associated Press. 2010-08-16. ISSN 0261-3077. Retrieved 2020-05-03.
  12. ^ Bergsten, C. Fred (2022). The United States vs. China : the quest for global economic leadership. Cambridge. p. 86. ISBN 978-1-5095-4735-7. OCLC 1255691875.{{cite book}}: CS1 maint: location missing publisher (link)
  13. ^ Wu, Wei (2015-06-04). "Why China's Political Reforms Failed". The Diplomat. Archived from the original on 2023-04-13. Retrieved 2020-05-03.
  14. ^ Mitter, Rana; Johnson, Elsbeth (2021-05-01). "What the West Gets Wrong About China". Harvard Business Review. ISSN 0017-8012. Retrieved 2024-03-24.