Based on the experiences of Chinese reforms, the book criticises the transition theories of the 'big-bang' and privatisation represented by Sachs and Kornai. Along with the adjustment of the industrial structure, the Chinese government decontrolled prices gradually. Meanwhile, the state-owned enterprise reform in China is leading to enhance managerial autonomy rather than privatisation. China has combined the 'gradual approach' of transition with the gradual process of economic development. The combination of transition and development gave China a chance to try something new.

Inhalt
List of Tables - List of Figures - List of Charts - Preface - Summary - Introduction - PART 1: GROWTH AND RE-INDUSTRIALISATION: China's Price Reform vs 'big-bang' - Introduction: The Inconsistencies of the 'big-bang' - Why did China avoid the 'big-bang'? - 'Groping for stones to cross the river': Price reform in China - Conclusion of Part 1: The reversible 'big-bang' - PART 2: TRANSCENDING THE LOGIC OF PRIVATE OWNERSHIP: CHINA'S ENTERPRISE REFORM VS PRIVATISATION - Introduction: The Self-contradictory Privatisation - Transcending Private Ownership - 'Groping for stones to cross the river': Enterprise Reform in China - Conclusion of Part 2: Government Reform is Another Core - Conclusion: Development Orientation vs Transitional Innovation - Bibliography - Index