Chapter 15 - China: Party Dictatorship, Markets, and Socialism

Question 1

cadres department

Answer 1

appoints officials to elite positions in the party and state. the party uses promotions and other awards to incentivize regional officials

Question 2

China puzzle

Answer 2

how china with its poor protection of private property, weak corporate governance, lack of democratic accountability, and absence of rule of law can grow rapidly over more and three decades

Question 3

Chinese SOEs

Answer 3

State owned enterprise with state as biggest share holder

Question 4

chinese style socialism

Answer 4

the state and private economies coexist, national planning is absent, and private property rights are supposed to be protected

Question 5

cultural revolution

Answer 5

sought to restore socialist zeal and discipline by liquidating capitalist and traditional elements from chinese society

Question 6

FDI

Answer 6

foreign direct investment - investment by foreign investors in the form of acquiring substantial shares in domestic companies or entering into partnerships with comapies through join ventures

Question 7

Great Leap Forward

Answer 7

Massive resurgence of radical ideology, which replaced rationality

Question 8

hukou

Answer 8

residence registration system which registers households by place of urban or rural location

Question 9

M-Form organization

Answer 9

Organizes and manages economic tasks on a regional rather than sectoral basis

Question 10

middle income trap

Answer 10

the inability of fast growing poor countries to raise per capita income to affluent status

Question 11

politburo

Answer 11

headed by the general secretary of the party - the most important position

Question 12

special economic zones

Answer 12

areas freed of trade restrictions and barriers that were allowed to operate under foreign legal regimes

Question 13

tournament competition

Answer 13

players in the competition are judges by their relative performance (relative to other players)