Chinas emergence as a leading world economy is not a complete surprise economists like angus maddison had predicted its resurgence some time ago see references the most remarkable aspect of this transformation has been the role of the private sector in achieving such a high rate of growth . The economic transformation of china is a collection of essays written by an eminent observer of the chinese economy the book covers the chinese transformation beginning in the 1950s and continuing through the second decade of the twenty first century. 3 piie briefing 15 3 introduction china is undergoing a welcome if rocky transition from an economy driven by investment and exports to one in which private consumption and services are the major factor in economic expansion. No one in the twentieth century had a greater impact on world history than deng xiaoping and no scholar is better qualified than ezra vogel to disentangle the contradictions embodied in the life and legacy of chinas boldest strategist the pragmatic disciplined force behind chinas radical economic technological and social transformation. 2 loren brandtandthomas g rawski chinas great economic transformation 3 table 11 chinas cdp as percent afcdpfor other large nations 1978 200411 1952 1978 1990 2000 2004
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