China s Tryst with Globalisation

Nirmal Kumar Chandra This paper attempts to show how, rejecting neoliberal diagnoses on many occasions, China has created a transitional economic system that combines in a most original way seemingly contradictory elements of central and local planning, the domestic market and a relatively small window looking out into the world outside. If the mix was very much of their own concoction, the Chinese have learnt copiously from their own past and from the USSR as well as their own neighbours such as Japan, South Korea and Taiwan, The author's objective is not so much to chronicle the story, but to look for policy recipes for others, both developed and developing countries, underscoring the counter-productive nature of the neoliberal dogma.