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Ergänzende Anmerkungen zum chinesischen Wunder / Some Supplementary Comments on the Chinese Miracle

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  • Weede Erich

Abstract

Feng, Ljungwall and Guo have demonstrated how the expansion of economic freedom contributed to persistent and rapid economic growth in China. Here, four additional items are discussed. First, the extreme restrictions of economic freedom before the reforms, under Mao and during the ‘great leap forward’, led China into catastrophe. Second, China′s economic performance should not only be explained by domestic determinants, but also by external determinants, in particular the advantages of backwardness which result from economic freedom in the West. Third, China′s economic performance since the reforms remains a ‘miracle’, because the Chinese economy does so well in spite of so insecure property rights and so little rule of law. Fourth, the one child policy may be regarded as the last ‘victory’ of social planning. It forebodes major problems.

Suggested Citation

  • Weede Erich, 2012. "Ergänzende Anmerkungen zum chinesischen Wunder / Some Supplementary Comments on the Chinese Miracle," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 63(1), pages 129-134, January.
    • Handle: RePEc:bpj:ordojb:v:63:y:2012:i:1:p:129-134:n:11
    DOI: 10.1515/ordo-2012-0111
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    References listed on IDEAS

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    1. Weede, Erich, 2012. "Freiheit und Verantwortung, Aufstieg und Niedergang," Beiträge zur Ordnungstheorie und Ordnungspolitik, Mohr Siebeck, Tübingen;Walter Eucken Institut, Freiburg, Germany, edition 1, volume 127, number urn:isbn:9783161518331.
    2. Erich Weede, 2008. "Asia’s Giants in the World Economy: China and India," Chapters, in: Andreas Bergh & Rolf Höijer (ed.), Institutional Competition, chapter 10, Edward Elgar Publishing.
    3. Weingast, Barry R, 1995. "The Economic Role of Political Institutions: Market-Preserving Federalism and Economic Development," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 11(1), pages 1-31, April.
    4. Huang,Yasheng, 2008. "Capitalism with Chinese Characteristics," Cambridge Books, Cambridge University Press, number 9780521898102, September.
    5. Weede, Erich, 2012. "Freiheit und Verantwortung, Aufstieg und Niedergang," Beiträge zur Ordnungstheorie und Ordnungspolitik, Mohr Siebeck, Tübingen;Walter Eucken Institut, Freiburg, Germany, edition 1, volume 127, number urn:isbn:9783161520914.
    6. Meltzer, Allan H., 2012. "Why Capitalism?," OUP Catalogue, Oxford University Press, number 9780199859573.
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