2003China Industrial EconomyRequires access

Analysis on Differences of Economic Structure Reform between China and Russia

Lü Zheng

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Abstract

China and Russia took a different style of reform during the process of market economy transformation, China took a progressive reform while Russia took a radical reform. China insists on state-owned economy as lead and at the same time developing multi-sectors of economy, while Russia took privatelization in all-around. China is relatively fine to deal with the relationship between reform, development and stabilization based on its characteristics, and the reform accelerated sustainable and fast growth of national economy; the economy in Russia decreased in successive year in 1990's, there is a high cost for the reform. The practice of the economic transformation in China and Russia shows that market economy as an effective system and style of economic operation, has an universal law, however, it has specific style to realize in a different country, different stage of economic development and different social, history and culture. Therefore, economic structure reform must be taken under the national practice.

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China and Russia took a different style of reform during the process of market economy transformation, China took a progressive reform while Russia took a radical reform. China insists on state-owned economy as lead and at the same time developing multi-sectors of economy, while Russia took privatelization in all-around. China is relatively fine to deal with the relationship between reform, development and stabilization based on its characteristics, and the reform accelerated sustainable and fast growth of national economy; the economy in Russia decreased in successive year in 1990's, there is a high cost for the reform. The practice of the economic transformation in China and Russia shows that market economy as an effective system and style of economic operation, has an universal law, however, it has specific style to realize in a different country, different stage of economic development and different social, history and culture. Therefore, economic structure reform must be taken under the national practice.

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Available abstract

China and Russia took a different style of reform during the process of market economy transformation, China took a progressive reform while Russia took a radical reform. China insists on state-owned economy as lead and at the same time developing multi-sectors of economy, while Russia took privatelization in all-around. China is relatively fine to deal with the relationship between reform, development and stabilization based on its characteristics, and the reform accelerated sustainable and fast growth of national economy; the economy in Russia decreased in successive year in 1990's, there is a high cost for the reform. The practice of the economic transformation in China and Russia shows that market economy as an effective system and style of economic operation, has an universal law, however, it has specific style to realize in a different country, different stage of economic development and different social, history and culture. Therefore, economic structure reform must be taken under the national practice.

Key concepts: China, Economic reform, Economic system, State (computer science), Chinese economy, Planned economy, Economics, Style (visual arts)

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