The Butterfly Effect in China's Economic Growth, 1st ed. 2021 From Socialist Penury Towards Marx's Progressive Capitalism

This book examines China?s butterfly effect in its 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.

Chapter 1. Mao Zedong and the Preconditions for the Butterfly Effect.- Chapter 2. Deng Xiaoping Triggered off the Butterfly Effect.- Chapter 3. Confucius as Cultural Capital in Sustaining the Butterfly Effect.- Chapter 4. Spread Education and Devouring Global Knowledge.- Chapter 5. Economic Growth from Hunger with Animal Spirits.- Chapter 6 Uncertain China with Docilely Educated Population.

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.

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