The Butterfly Effect in China’s Economic Growth

From Socialist Penury Towards Marx’s Progressive Capitalism

Authors: Zhang, Wei-Bin

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  • Examines China’s butterfly effect in its modern economic development during the period of 1978–2018 
  • States that the butterfly effect refers to a phenomenon that a butterfly flaps its wings in Okinawa
  • Discusses a trivial idea applied by Deng to China’s countryside in 1978
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eBook 74,89 €
price for Spain (gross)
  • ISBN 978-981-15-9889-0
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Hardcover 93,59 €
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  • ISBN 978-981-15-9888-3
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  • Covid-19 shipping restrictions
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About this book

This book examines the butterfly effect in China's modern economic development during the period of 1978–2018. In chaos theory, the butterfly effect refers to a phenomenon that a butterfly flaps its wings in Okinawa, and subsequently a storm may ravage New York. Deng applied a trivial idea, called the market mechanism, to China’s countryside in 1978. The idea has subsequently caused economic structural changes and fast growth in the economy with the largest population in human history. China’s per capita GDP jumped from $100 in 1978 to over US$8,000 in 2018. Eight hundred million people have made a great escape from poverty. By 2018, China was the world’s second-largest economy from its 10th position in 1978 with its 9 per cent average annual growth rate of GDP in the previous four decades. This illuminating book will be of value to economists, scholars of China, and historians.

About the authors

Wei-Bin Zhang, Ph.D. (Umeå, Sweden), is Professor of Economics in Ritsumeikan Asia Pacific University (APU), Japan. His main research fields are nonlinear economic dynamics, growth theory, trade theory, East Asian economic development, and Confucianism. He has single-authorized about 360 academic articles (240 in peer-review international journals) and authorized 23 academic books in English by international publishing houses. Prof. Zhang is one of the editorial board members of 15 international journals.

Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook 74,89 €
price for Spain (gross)
  • ISBN 978-981-15-9889-0
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 93,59 €
price for Spain (gross)
  • ISBN 978-981-15-9888-3
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
  • The final prices may differ from the prices shown due to specifics of VAT rules

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Bibliographic Information

Bibliographic Information
Book Title
The Butterfly Effect in China’s Economic Growth
Book Subtitle
From Socialist Penury Towards Marx’s Progressive Capitalism
Authors
Copyright
2021
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-15-9889-0
DOI
10.1007/978-981-15-9889-0
Hardcover ISBN
978-981-15-9888-3
Edition Number
1
Number of Pages
XVII, 213
Number of Illustrations
5 b/w illustrations, 13 illustrations in colour
Topics