Overview
- Examines China’s butterfly effect in its modern economic development during the period of 1978–2018
- States that the butterfly effect refers to a phenomenon that a butterfly flaps its wings in Okinawa
- Discusses a trivial idea applied by Deng to China’s countryside in 1978
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About this book
This book examines the butterfly effect in China's modern economic development during the period of 1978–2018. In chaos theory, the butterfly effect refers to a phenomenon that a butterfly flaps its wings in Okinawa, and subsequently a storm may ravage New York. Deng applied a trivial idea, called the market mechanism, to China’s countryside in 1978. The idea has subsequently caused economic structural changes and fast growth in the economy with the largest population in human history. China’s per capita GDP jumped from $100 in 1978 to over US$8,000 in 2018. Eight hundred million people have made a great escape from poverty. By 2018, China was the world’s second-largest economy from its 10th position in 1978 with its 9 per cent average annual growth rate of GDP in the previous four decades. This illuminating book will be of value to economists, scholars of China, and historians.
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Keywords
Table of contents (6 chapters)
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Front Matter
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Back Matter
Authors and Affiliations
About the author
Wei-Bin Zhang, Ph.D. (Umeå, Sweden), is Professor of Economics in Ritsumeikan Asia Pacific University (APU), Japan. His main research fields are nonlinear economic dynamics, growth theory, trade theory, East Asian economic development, and Confucianism. He has single-authorized about 360 academic articles (240 in peer-review international journals) and authorized 23 academic books in English by international publishing houses. Prof. Zhang is one of the editorial board members of 15 international journals.
Bibliographic Information
Book Title: The Butterfly Effect in China’s Economic Growth
Book Subtitle: From Socialist Penury Towards Marx’s Progressive Capitalism
Authors: Wei-Bin Zhang
DOI: https://doi.org/10.1007/978-981-15-9889-0
Publisher: Palgrave Macmillan Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2021
Hardcover ISBN: 978-981-15-9888-3Published: 25 November 2020
Softcover ISBN: 978-981-15-9891-3Published: 25 November 2021
eBook ISBN: 978-981-15-9889-0Published: 24 November 2020
Edition Number: 1
Number of Pages: XVII, 213
Number of Illustrations: 5 b/w illustrations, 13 illustrations in colour
Topics: Economic Growth, Development Economics, Economic History