Beschreibung
At the core of China’s economic growth lies its transition from a centrally-planned to a market economy. Instead of trying to implement a theoretically-derived model all at once, China chose an incremental approach of experimentalism which was not confined to just one economic theory or transition model. Examining the pace and scope of China’s financial development is essential when evaluating this transition strategy.
Contradicting financial liberalisation arguments, China’s reform process has forged an alternative pathway for transition economies, by showing that government-driven financial intermediation does not necessarily inhibit financial development and economic growth.
The result of this reform has been a hybrid economic structure unique to China. This combination between a market and a socialist economy with a state-controlled financial system is central to China’s financial development and economic growth.
Dr Anna Maren Langner is an entrepreneur and proprietary trader based in Vienna. She earned her PhD in Economics at the University of Hamburg, and has over fifteen years of experience in financial markets trading and investment management. She has previously worked in Vienna, London, Frankfurt and Paris.
