3 Support for the market economy

China's dramatic economic transformation from a strict command central-planning economy to a by-and-large market economy in the past 30 years is nothing short of a miracle. After 30 years of double-digit economic growth, China has become the second largest economy after the United States and one of the top trading countries in the world. Obviously many factors have contributed to the rapid economic growth of China in the past three decades. This chapter focuses on the cultural aspect of economic growth in China. It has long been argued whether China's predominantly Confucian culture is conducive to a capitalist market economy. Max Weber might have turned in his grave to explain the flourishing market economy ...

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