The Butterfly Effect in China’s Economic Growth

From Socialist Penury Towards Marx’s Progressive Capitalism

By:

Wei-Bin Zhang

Format:

Paperback / softback

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Description

This book examines the butterfly effect in China's modern economic development during the period of 1978–2018. In chaos theory, the butterfly effect refers to a phenomenon that a butterfly flaps its wings in Okinawa, and subsequently a storm may ravage New York. Deng applied a trivial idea, called the market mechanism, to China’s countryside in 1978. The idea has subsequently caused economic structural changes and fast growth in the economy with the largest population in human history. China’s per capita GDP jumped from $100 in 1978 to over US$8,000 in 2018. Eight hundred million people have made a great escape from poverty. By 2018, China was the world’s second-largest economy from its 10th position in 1978 with its 9 per cent average annual growth rate of GDP in the previous four decades. This illuminating book will be of value to economists, scholars of China, and historians.

Author Biography:

Wei-Bin Zhang, Ph.D. (Umeå, Sweden), is Professor of Economics in Ritsumeikan Asia Pacific University (APU), Japan. His main research fields are nonlinear economic dynamics, growth theory, trade theory, East Asian economic development, and Confucianism. He has single-authorized about 360 academic articles (240 in peer-review international journals) and authorized 23 academic books in English by international publishing houses. Prof. Zhang is one of the editorial board members of 15 international journals.

Release date Australia

November 25th, 2021

Author

Wei-Bin Zhang

Pages

213

Edition

1st ed. 2021

Audience

Professional & Vocational

Illustrations

13 Illustrations, color; 5 Illustrations, black and white; XVII, 213 p. 18 illus., 13 illus. in color.

ISBN-13

9789811598913

Product ID

35592297

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