Supernormal Growth: China's Economy 1979

Supernormal Growth confirms the supernormal achievements of China by providing founding statistics that China, during the past 35 years, experienced a synchronous high-speed growth of investment, consumption, labor productivity with low volatility.First of its kind, Jeffrey Shi analyzes the unique structure and operating mechanism of China's existing market economy from a theoretic perspective, and attributes China's supernormal growth to supernormal investment aroused by China's three dimensional (3-D) market system which consists of competitive enterprises, competitive local governments and central government and to supernormal purchasing power created by American's finance-driving strategy.In examining multiple challenges of China one by one, the Shi proposes a whole conception of national strategic asset investment system which does not interfere with the operation of normal market, but provides sustainable extra force to extend China's supernormal growth, and also an innovative idea of relieving polarization of the poor and the rich through a '1.5th income distribution' system, so as to provide a panoramic view of China's supernormal growth strategy in the next 30 years.Shi is not only a respected scholar, but also a successful businessman, giving Supernormal Growth a more valuable reference in answering many questions about China's development no matter in the past or future.