Cyclical Patterns of China’s Reform and Their Implications for the New Era*
Huang Taiyan (黄泰岩)
Minzu University of China (MUC), Beijing, China
China Economic Reform and Development Institute, Renmin University of China
Abstract: After taking stock of China’s four-decade reforms, this paper identifies the cyclical patterns of China’s reforms, which consist of an intermediate cycle and three short cycles. The purpose of reform is to adjust the changing relations of production to changing productivity. China has adopted a gradualist approach of reform, and reform cycles have coincided with economic cycles. The cyclical changes of reform are of great significance to comprehensively deepening reforms in the new era: Downward pressures of the economy present the best window period for reform; a new cycle of reform will unveil a new economic cycle as well; the people’s support is essential to pushing forward the cyclical movements of reform; and top-down design is essential to deepen reforms on all fronts.
Keywords: cyclical patterns of reform, comprehensively deepening of reforms in the new era, implications for the new era
JEL Classification Codes: P21
DOI:1 0.19602/j .chinaeconomist.2019.9.02