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Register NowEconomic Development
China’s Many Economies
It can be tempting to overgeneralize about patterns in China’s economic development—even for scholars who acknowledge the country’s great diversity.
Yuen Yuen Ang’s book, How China Escaped the Poverty Trap, has two great strengths. First, it develops a consistent frame work for thinking about the development process without resorting to China-is-different trickery every time there is a gap between China’s reality and the logic of the framework. This is in sharp distinction to the work of most economists, both Chinese and foreign, who generally try to explain China by shoehorning it into their models, even as they sternly admonish against…
Yuen Yuen Ang’s book, How China Escaped the Poverty Trap, has two great strengths. First, it develops a consistent frame work for thinking about the development process without resorting to China-is-different trickery every time there is a gap between China’s reality and the logic of the framework. This is in sharp distinction to the work of most economists, both Chinese and foreign, who generally try to explain China by shoehorning it into their models, even as they sternly admonish against…