This book aims to explain the secret to China’s rapid growth over the last 40 years from the viewpoint of a firsthand witness. Zheng Xinli was enrolled as a graduate student of economics 40 years ago, at a time when very few Chinese people could enroll in higher-level education, let alone...

The inefficiencies of China's state-owned property policies form the central focus of this Article. In short, I argue that ill-defined property rights and transaction costs have hindered China's macroeconomic transition. My contentions diverge from prior scholarship, however, by explaining the...