Supernormal Growth - 9781938134623

Examining China's economy from 1979 to 2049, this book is based on the supernormal growth that is created by extraordinary investment and supernormal buying power, providing a systematic analysis of the high economic growth and low volatility of the past more than 30 years. It proposes that the fundamental reason for China's supernormal economic growth is the formation of a uniquely special three-dimensional market system through reform, and indigenous innovation. It also forecasts a trend of high economic growth into the middle of the twenty-first Century and offers suggestions and ideas on the deepening of institutional reform, the creation of a National Strategic Development Fund, and the establishment of a national financial system.As the first systematic analysis of China's long-term economic development prospects up to 2049, this book is a valuable reference in answering many questions about China's development. It promotes the reform and development of theories and institutions of socialism with Chinese characteristics.