What is Changing China

Author: Zhang Weiying

Publisher: CITIC Press Corp.

Publishing Date: July 2012

China is at an intersection and is unsure which direction to take but that should not be an excuse to continue as before, is the message of Peking University economics professor Zhang Weiyi in his latest book promoting free-market reform. Zhang does not buy into the debate between the seemingly opposing 'China model' theory and 'failure of reform' theory, noting that in essence they are the same and are equally flawed in their reliance on state intervention. He warns against misunderstanding the reasons for China's economic success and points out that it was because the state diminished their influence in the past 30 year that China prospered. He argues why further market reforms are needed to move from the still high-handed gang logic to a more market based logic. Zhang believes China's future will depend upon whether free-market ideas win out.