This book collects essays from Chinese economic sage who was the mastermind of the reform and opening and persistent champion of market-driven development. In the essays, he outlines his vision of the systemic reform needed for today's China, from rule of law to completion of the market system...

China is considered to be a particularly successful example of a gradual approach to transition from a command economy to a market economy. This paper reviews the initial conditions, the calendar of reform steps, and the political preconditions for liberalisation. It argues that gradualism was...

1. The Market Economy in China’s Reform -- 2. Countries on the Way to Power: The Rise of Great Powers -- 3. Economics and the Rise of China’s Economy -- 4. Inflation and Asset Bubbles from Unsustainable Growth Patterns -- 5. “The Man Who Does Not Think Far Ahead Will Have Troubles Near at...