Description:
Working paper
File:
Organisation:
Abstract:
Since the economic reforms began in 1978, China has achieved remarkable economic results. Real GDP per capita grew at an average annual rate of 8.1% in the period of 1978-2001. Maintaining such a high growth rate over such a long period of time with a population of more than one billion truly is a miracle in world economy history (Lin et. al. 1994 and 1999).