Wedeman, Andrew
Double Paradox
- ISBN 13:
- 9780801477768
- author:
- Wedeman, Andrew
- format:
- Paperback
- publisher:
- Cornell University Press
- language:
- English
- Publication Year:
- 2002
- Pages:
- 272
- Dimensions:
- 23.11 x 15.24 x 2.03 centimetres
- Genre:
- Nonfiction, True Crime, General,
- Condition:
- New
- Availability:
- Item usually sent within 20 working days
Description
The Chinese economy has long been a subject of fascination and concern. Despite widespread corruption, China experienced rapid growth between 1978 and 2010, with an average annual rate of 9 percent. In "Double Paradox: Rapid Growth and Rising Corruption in China", Andrew Wedeman seeks to explain this paradox. Wedeman argues that the Chinese economy's ability to survive corruption was due in part to the timing of economic reforms, which unleashed dynamic growth before widespread corruption took hold. Corruption also played a role in the transfer of undervalued assets from the state to private and corporate sectors, creating windfall profits for those involved. Furthermore, an anticorruption campaign has helped prevent corruption from spiraling out of control. To understand China's economic success, Wedeman draws on over three decades of data, as well as examples from other countries such as South Korea, Taiwan, Equatorial Guinea, and nations in Africa and the Caribbean. He cautions that rapid growth requires not only effective anticorruption efforts but also consolidated property rights.
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