The author points out that China's foreign trade has made stunning advances since economic reform began in the late 1970s. He explains the country's export growth and notes that initially trade expansion was heavily state directed; however, from the mid-1980s onward this was gradually displaced by...

China's transition to a market economy has propelled its remarkable economic growth since the late 1970s. In this book, Nicholas R. Lardy, one of the world's foremost experts on the Chinese economy, traces the increasing role of market forces and refutes the widely advanced argument that Chinese...