Tony Andreani

Which Economic Model for China?—Review of La Voie chinoise by Michel Aglietta and Guo Bai

This article presents a critique of the book La Voie chinoise written by Michel Aglietta and Guo Bai. After having presented the interpretation of the Chinese “sui generis capitalism” given by the authors, we give our own interpretation. This is followed by a discussion of some of the key issues examined in the book, including the imbalances of the Chinese economy, the allocation of factors and their prices, the rules applied to the bond and stock markets, the specificities of state-owned enterprises, the conception of public services, the question of strategic planning, and that of power in “socialism with Chinese characteristics.”