Capitalism with Chinese Characteristics: Entrepreneurship and the State

Since 1978, the Chinese economy has grown phenomenally. Based on archival research and survey data, Professor Yasheng Huang of MIT Sloan School of Management offers an alternative view: private entrepreneurship, facilitated by access to capital and microeconomic flexibility, was at the center of China's takeoff in the 1980s. The key to understanding China is recognizing two Chinas—an entrepreneurial rural China and a state-controlled urban China.