Where Is China Today?
Over the last 20 years of economic reform, China’s transition from a centrally planned to a partially privatized economy with as yet incomplete social reforms has driven both social and economic changes. In contrast to the “shock-therapy” model undertaken by post-Communist Russia and other eastern European countries, in which state assets were rapidly privatized, China has pursued change much more slowly. Individual freedoms, a new middle class, and opportunity are gradually expanding and businesses, both state-owned and private, are becoming more focused on achieving business goals such as profitability, as opposed to simply providing employment in the town of a politically connected government official. China is working hard to improve its international reputation for business practices. Many investors burned by corruption in the 1970s and 1980s are now cautiously re-examining entry back into China. Beijing’s hosting of the 2008 Olympics as well as China’s accession to the World Trad
