|Title:||Private Enterprises and China’s Economic Development|
|Authors:||Shuanglin Lin and Xiaodong Zhu|
|Description:||Markets have existed in China for thousands of years. However, on entering the modern era, the road to a market economic system has been painfully bumpy for the Chinese. In 1957, China completed its socialist economic transformation, eliminated all private enterprises, and established state-owned and collective enterprises. In the following year, China established collective farms in rural areas. Since then, China has become a centrally planned economy dominated by a large state sector. The socialist economic system relied on political propaganda to motivate workers and managers. In 1958, China launched the “Great Leap Forward” movement in an effort to catch up with Britain and the US in a short period of time. The whole country was mobilized in a military way, and food and steel were called the two “generals” by Chairman Mao. Lakes were filled to make more land, grassland was plowed to grow crops, and woods were destroyed in an attempt to make steel in farmers’ backyards.|
|Appears in Collections:||Regional and Local Development Studies|
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