In this book, the author focuses on socialist political economy with Chinese characteristics (SPECC) as an approach for understanding the Chinese economic phenomena of the last 40 years. First, he analyzes the nature, features, core problems of, and historical reasons for this approach. He then goes on to examine the theory and practice of the socialist market economy, the relationship between the government and market, the reasons for China’s sustained and rapid economic development, and other issues that define the “Chinese Characteristics.” The author argues that while the reform and opening-up has brought an optimistic outlook to China, it did not happen without a hitch. The book summarizes these very triumphs and perils, tracing the winding course of institutional innovations and leaping development as China pursues the market economy while at the same time seeking the guidance of Marxist political economy.
- Yu Zhang