Decentralization, liberalization, privatization and globalization in economic reform of China
There are numerous studies on the extraordinary economic phenomena in the economic reform of China. However, few studies have focused on the Chinese characteristics of the economic reform. This paper will bridge this gap by arguing that decentralization, privatization, liberalization, and globalization are the most important characteristics of China's economic reform. It examines these main characteristics and their interrelationships in Chinese economic reform taking into account state planning, market and ownership. The proposed approach will facilitate the research of economy and society of China for both Chinese scholars and Western scholars.