Abstract:Chapter 12 provides a look at China, which has not been included in our analysis of largely developed economies. Chinese growth has been extraordinary with stunning effects, largely improvements, although pollution has worsened for a substantial share of the world's lower-income population. The Chinese model may well be unique, a complicated mix of socialist structures, state ownership of some large enterprises and much of finance, dirigiste state-led and state-financed development of the private sector, and s… Show more
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