Markets Over Mao: Economist Nicholas Lardy

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China's transition to a market economy has propelled its remarkable economic growth since the late 1970s. In his book “Markets Over Mao: The Rise of Private Business in China” Nicholas R. Lardy, one of the world's foremost experts on the Chinese economy, traces the increasing role of market forces and refutes the widely advanced argument that Chinese economic progress rests on the government's control of the economy's "commanding heights." In another challenge to conventional wisdom, Dr. Lardy finds little evidence that the decade of leadership of former President Hu Jintao and Premier Wen Jiabao (2003–13) dramatically increased the role and importance of state-owned firms.

“Markets Over Mao” offers powerfully persuasive evidence that the major sources of China's growth in the future will be market-rather than state-driven, with private firms providing the major source of economic growth, the sole source of job creation, and the major contributor to China's still growing role as a global trader.

Nicholas Lardy discussed his new book at a National Committee program on November 6, 2014 at Dorsey & Whitney.

Dr. Nicholas R. Lardy is the Anthony M. Solomon Senior Fellow at the Peterson Institute for International Economics. He joined the Institute in March 2003 from the Brookings Institution, where he was a senior fellow from 1995 until 2003.

The National Committee on U.S.-China Relations is the leading nonprofit nonpartisan organization that encourages understanding of China and the United States among citizens of both countries.

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