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Demystifying the Chinese Economy

01-04-2014 • arclein

Demystifying the Chinese Economy During the transition process China adopted a pragmatic, gradual, dual-track approach. The government first improved the incentives and productivity by allowing the workers in the collective farms and state-owned firms to be residual claimants and to set the prices for selling at the market after delivering the quota obligations to the state at fixed prices). At the same time, th

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