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China at the crossroads

Author

Listed:
  • László Csaba

    (Department of International Relations, Central European University, Quellenstraße 51, 1100, Wien, Austria
    Corvinus University of Budapest, Budapest, Hungary)

Abstract

This essay joins in the international controversy about the nature and sustainability of the economic system in China. While official ideology continues to stick to the concept of ‘socialist market economy’, albeit with changing contents, international observers are split. One group considers China as a de facto market economy, which is in line with the top-down tradition of ruling in the region. Others consider it as a sui generis system. And a third line takes it as yet another case of hybrid regime which proliferated globally in the new millennium. I try to create a link between these readings and the empirics of Chinese growth. This may help interpret the slowdown, exacerbated by the COVID-19 epidemics on Chinese output.

Suggested Citation

  • László Csaba, 2020. "China at the crossroads," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 70(s), pages 5-14, September.
    • Handle: RePEc:aka:aoecon:v:70:y:2020:i:s:p:5-14
    DOI: 10.1556/032.2020.00023
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    More about this item

    Keywords

    hybrid regimes; growth deceleration; socialist market economy; informalism; comparative economic systems; property rights; party control;
    All these keywords.

    JEL classification:

    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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