Chinese Economics

1) Describe the relationship between central and local governments in China. (5 points)

2) Explain the role of local governments in the development of private sector? (5 points)

a. Explain why there are differences in reform experiment results in M-form and U-form

b. What is the relationship between regional decentralization and reform experiment?

c. What are the benefits of carrying out reform by experiments?

d. Explain Chinese economic reform process and list major reform experiments

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