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These essays both enhance an understanding of China's immense success in meeting these challenges in the past and provide an indication of the challenges that still lie ahead. China's system reforms have been described as 'groping for stones to cross the river'. The journey across the river is far from over, and the other bank is only dimly visible.
Introduction; 1. The Starting Point of Liberalization: China and the Former USSR on the Eve of Reform; 2. China's New Development Path: Towards Capitalist Markets, Market Socialism or Bureaucratic Market Muddle?; 3. Politics, Planning, and the Transition from Stalinism: The Case of China; 4. Democratization, Human Rights and Economic Reform: The Case of China and Russia; 5. Beyond Privatization: Institutional Innovation and Growth in China's Large State-Owned Enterprise (with Wang Xiaoqiang); 6. China and the Global Business Revolution; 7. The Challenge of Globalization for Large Chinese Firms (with Zhang Jin); 8. The Causation and Prevention of Famines: A Critique of AK Sen; Epilogue: Adam Smith and the Contradictions of the Free Market Economy: a Note