Demystifying the Chinese Economy

10 Pages Posted: 3 Sep 2013

See all articles by Justin Y. Lin

Justin Y. Lin

Peking University - China Center for Economic Research

Date Written: September 2013


China's economic development has been miraculous since the transition from a planned economy to a market economy in 1979. This article provides answers to six related questions: Why was it possible for China to achieve such extraordinary performance during its transition? Why was China unable to attain similar success before its transition started? Why did most other transition economies fail to achieve a similar performance? What costs does China pay for its extraordinary success? Can China maintain dynamic growth in the coming decades? What should other developing countries do to achieve similar success?

Suggested Citation

Lin, Justin Yifu, Demystifying the Chinese Economy (September 2013). Australian Economic Review, Vol. 46, Issue 3, pp. 259-268, 2013, Available at SSRN: or

Justin Yifu Lin (Contact Author)

Peking University - China Center for Economic Research ( email )

No. 38 Xueyuan Road
Haidian District
Beijing, Beijing 100871

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