Understanding the Pattern of Growth and Equity in the People's Republic of China
By Minquan Liu
There are likely to be many factors which have together shaped the current pattern of growth and equity in the People's Republic of China (PRC). Among them are the foundations laid in the pre-1978 era, especially in respect of land-related institutional reforms and social sector investments. These factors successfully complemented the subsequent export and foreign direct investment FDI promotion strategies the PRC followed in the post-1978 years. However, given the large size of the PRC, while these strategies have helped to kick-start its economic take-off, the long-run growth of the country cannot depend on it.
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