Peixin Yang&apos;s Economic thought and its Outcomes in the 1980s, Early in China&apos;s Reform, and China&apos;s Reform Miracle

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World Review of Political Economy

Volume 5, Issue 4

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Peixin Yang's Economic thought and its Outcomes in the 1980s, Early in China's Reform, and China's Reform Miracle

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Author(s): Bin Yang , Translated by Sicheng Zhou

Publication date (Print): Winter 2014

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: market economy, resource allocation, economic security, financial crisis

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Abstract

During the initial period of reform, China's prudent handling of the money—price relationship while simultaneously bringing inflation and unemployment under control had a far-reaching influence on economic theory as well as practical significance. The country's successful experience constituted a miracle beyond the dreams of authoritative international financial authorities and experts. The famous American Nobel Prize winner, the economist Milton Friedman, once said that anyone who could explain China's success could win the Nobel Prize. In today's complex world, with its recurrent financial turmoil and intensified threat of war, China's successful experience in the early phases of reform has important significance for developing socialism with Chinese characteristics and maintaining the country's economic and financial security and the interests of the great mass of the people. We should sum up this experience to strengthen confidence in our institutions, our path, and our theory.

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Author and article information

Contributors

Translated by Sicheng Zhou

Journal

Journal ID (doi): 10.13169

Journal ID (publisher-id): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN (Print): 2042891X

ISSN (Electronic): 20428928

Publication date (Print): Winter 2014

Volume: 5

Issue: 4

Pages: 532-549

Affiliations

Central Compilation & Translation Bureau

Article

Publisher ID: worlrevipoliecon.5.4.0532

DOI: 10.13169/worlrevipoliecon.5.4.0532

SO-VID: 9e36424b-eb95-4db6-a9ce-8b2cb5145d22

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History

References

Klein, N. 2008. The Shock Doctrine: The Rise of Disaster Capitalism . London: Penguin Press.
Li, X. 2000. Interviews with Chinese Economists . [In Chinese.] Shijiazhuang: Hebei People's Press.
Wang, G. 2014. “Speech Congratulating Mr Peixin Yang for Being Awarded the Lifetime Achievement in Finance Studies.” Hongru Liu Financial Education Foundation, April 19. http://www.lhrfoundation.org/infoSingleArticle.do?articleId=1892.
Wu, J. 2002. Transforming China . [In Chinese.] Chengdou: Sichuan Press.
Yang, B. 1996. “Macroeconomic Policy for Curing the Present Unemployment Problem.” [In Chinese.] Industrial Economy in China , no. 6: 26–31.
Yang, B. 2000. The Hidden War That Menaces China . [In Chinese.] Beijing: Economic Management Press.
Yang, P. 1946. The Prospects for the Chinese Economy . [In Chinese.] Shanghai: Gengyun Press.
Yang, P. 1983. Bank Reform in China . [In Chinese.] Beijing: Beijing Press.
Yang, P. 1987. China's Monetary Policy . [In Chinese.] Shanghai: Sanlian Press.
Yang, P. 1988. Some Fresh Reflections on Economic Reform in China . Shanghai: Sanlian Press.
Yang, P. 1998. Some Fresh Reflections on Economic Reform in China . [In Chinese.] Shanghai: Sanlian Press.

Comments

Comment on this article

[1] Klein, N. 2008. The Shock Doctrine: The Rise of Disaster Capitalism . London: Penguin Press.

[2] Li, X. 2000. Interviews with Chinese Economists . [In Chinese.] Shijiazhuang: Hebei People's Press.

[3] Wang, G. 2014. “Speech Congratulating Mr Peixin Yang for Being Awarded the Lifetime Achievement in Finance Studies.” Hongru Liu Financial Education Foundation, April 19. http://www.lhrfoundation.org/infoSingleArticle.do?articleId=1892.

[4] Wu, J. 2002. Transforming China . [In Chinese.] Chengdou: Sichuan Press.

[5] Yang, B. 1996. “Macroeconomic Policy for Curing the Present Unemployment Problem.” [In Chinese.] Industrial Economy in China , no. 6: 26–31.

[6] Yang, B. 2000. The Hidden War That Menaces China . [In Chinese.] Beijing: Economic Management Press.

[7] Yang, P. 1946. The Prospects for the Chinese Economy . [In Chinese.] Shanghai: Gengyun Press.

[8] Yang, P. 1983. Bank Reform in China . [In Chinese.] Beijing: Beijing Press.

[9] Yang, P. 1987. China's Monetary Policy . [In Chinese.] Shanghai: Sanlian Press.

[10] Yang, P. 1988. Some Fresh Reflections on Economic Reform in China . Shanghai: Sanlian Press.

[11] Yang, P. 1998. Some Fresh Reflections on Economic Reform in China . [In Chinese.] Shanghai: Sanlian Press.