The Logic of Development: Lessons from China. Feng Xingyuan Professor Of Chinese Academy Of Social Sciences Executive President of Cathay Institute for Public Affairs Vice Director of Unirule Institute of Economics
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Professor Of Chinese Academy Of Social Sciences
Executive President of Cathay Institute for Public Affairs
Vice Director of Unirule Institute of Economics
Research Associate of East-West Center for Business Study and Cultural Science of Frankfurt School of Finance and Management
Jakarta, October 6, 2010
World Bank, 1993: The East Asian Miracle: Economic Growth and Public Policy
Disputes:I.Disputes and facts about the “Chinese Miracle”
If productive forces are liberated, no “miracle” is a “miracle” (Leon Louw).How to look at a “miracle”?
Source: Li Shantong
Gradualist approach to reform due to ideological hindrance and the need of political control by the Party: not the same as “trial and error” approach
In many cases: A pattern of “Spontaneous institutional change first, government recognition later”:
An unintended approximation to the competition order proposed by Eucken and practiced in early social market economy in GermanyChina: A still problematic, but relatively performance oriented competition order
Orthodox ideology as hindrancesC. Favorable informal institutions and pressure of life
Popper/Hayek: trial and error as an approach to the approximation to the truth: Gradualist approach.
In general, the gradualist approach was correct because interdependency of sub-orders is to be preserved (Eucken).