Book Title: Wild Ride: A Short History of the Opening and Closing of the Chinese Economy Author: Anne Stevenson Yang Headline: Central Government Seeks Control Amid Economic Booms and Crises After the economy grew "out of control" in the 1980s, the centra
Update: 2025-09-08
Description
Book Title: Wild Ride: A Short History of the Opening and Closing of the Chinese Economy Author: Anne Stevenson Yang Headline: Central Government Seeks Control Amid Economic Booms and Crises
After the economy grew "out of control" in the 1980s, the central government, fearing a Soviet-style breakup, implemented "golden projects" for control over customs, taxes, and information. Following the 1998 Asian Financial Crisis, China recapitalized its banks by creating four asset management companies to buy bad assets, effectively injecting massive cash into the economy. This unleashed an explosion of wealth, shifting the Chinese people's aspirations toward getting rich.
1958
Comments
In Channel