China’s economic success is attributed to market forces and the private sector following Mao Zedong’s death. Yasheng Huang’s book criticizes the current regime and examines past success and potential decline in China.
China’s Economic Success
China’s economic success has been widely attributed to its adoption of market forces and the private sector, which were key components of the “reform and opening-up” strategy implemented after Mao Zedong’s passing forty years ago. However, Chinese leaders’ deviation from these earlier policies and commitments has led to the setbacks and stagnation seen today.
Yasheng Huang’s Perspective
MIT economist Yasheng Huang, a prominent long-term observer of the Chinese economy, has released a well-timed book that examines the current and historical aspects of China. In The Rise and Fall of the EAST: How Exams, Autocracy, Stability, and Technology Brought China Success, and Why They Might Lead to Its Decline, Huang offers a thorough assessment of contemporary China, combined with a noteworthy criticism of the country’s recent and distant past.
Implications for China
Huang’s book boldly highlights China’s economic success as a result of its adoption of market forces and the private sector, central to the “reform and opening-up” initiated after Mao Zedong’s death. This retreat from previous policies and commitments has led to the current setbacks and stagnation in China. Despite the boldness of his viewpoint, Huang’s book is a courageous undertaking in the current political climate within China.