The following article by John Ross, on the world’s four fastest growing economies and China’s economic model, was previously published by Socialist Economic Bulletin.
First published: May 1996
The most conclusive indictment of the economic policies which have devastated Eastern Europe and the former Soviet Union since 1989 and 1991 is their contrast with the spectacular success of the reform of the world’s second major centrally planned economy – China – a model now being increasingly applied in Vietnam and Cuba. China’s success shows that the suffering inflicted upon the peoples of Eastern Europe and the former USSR, under the guidance of the IMF, was totally unnecessary.
[Continued from Part 1] The virtuous circle of the Chinese economic reform As the consumer boom took off however, it had an increasing knock-on effect upon the state-owned industrial sectors of the [Read more]