A History of the Cycle

  • Mark A. De Weaver


China’s transition to today’s “socialist market” economy is generally considered to have started in 1978. In December of that year, the third plenum of the Chinese Communist Party’s eleventh Central Committee declared economic development rather than class struggle to be the “basic line.” This set in motion a new policy of “reform and opening.”


Central Government Excess Supply Nonperforming Loan China Statistical Yearbook Investment Growth 
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© Mark A. DeWeaver 2012

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  • Mark A. De Weaver

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