Concluding Remarks

There is one well-known phrase in Chinese, shi shi qiu shi, which means, "seek truth from the facts." It is an (non-ideological) approach to issues adopted by people in handling realistic problem. Mao Zedong originally put forward his idea, but it seems not having been properly realized at that time. Nevertheless, the idea itself continues to be relevant.

The authors of this paper believe that the shi shi qiu shi attitude should be carried out not only in the practice of reform, but also in academic research. In trying to follow this attitude, the authors make some assumptions based on questionnaire investigations of Chinese enterprises that to some extent deviate from the neoclassical school, and draw some propositions to explain phenomena appearing in the development of the private sector in the PRC.

Looking at the growing presence of the private sector and the important role it is now playing, it is easy to predict a very bright future for the private sector. On the other hand, if we focus attention on the various constraints faced by the private sector, as seen in Chapter 4, we cannot but take a pessimistic view about its future. The authors take neither a fully optimistic or pessimistic views. However, we believe that as long as the PRC tries to take the shi shi qiu shi approach, the private sector is expected to develop further and to contribute more to the development of the PRC economy and eventually the world economy.

Comment(s)

There are [0] comment(s) for this entry. Post a comment.