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The performance of top Chinese women athletes in the 1990s has been unprecedented in the history of sport. Not only have they made remarkable progress from virtual obscurity to world champions and record breakers, they have far surpassed the performance of their male compatriots in international sport. This unique phenomenon extends from middle and long–distance running to swimming and diving, from weightlifting and chess to volleyball and basketball, from shooting and archery to wrestling and rowing, from badminton and gymnastics to softball and soccer – and table tennis dating back to the early 1970s.
All states have a role in development, but this varies widely. The spectrum is defined at one end by the laissez faire minimalist state whose role is limited to ensuring a stable and secure environment so that contracts, property rights and other institutions of the market can be honoured. At the opposite end are the centrally planned Leninist states that directly replace the market with bureaucratic allocation and planning. Between these two extremes are the capitalist developmental states of Japan and the East Asian Newly Industrializing Countries (NICs) that are neither Communist nor laissez faire, but exhibit characteristics of both. The state plays an activist, rather than a minimalist, role; there is planning, but it is geared toward creating maximum competitive and comparative advantage for manufacturers within a market economy.
As reform approaches the end of its second decade, the prospect of an interpretive summary of China's recent economic experience becomes irresistible. The analyst may plausibly hope to separate trend from cycle and pick out key elements in the kaleidoscopic jumble of events. China's unique combination of enormous size, large and unexpected economic gains, unorthodox policies, hybrid institutional structures and formidable challenges to future economic advance adds to the promise of such a review. This article begins with a summary of reform outcomes, followed by discussions of the reform process, the implications of recent reform experience and China's economic prospects. It concludes with a hesitant excursion into the realm of “lessons” from China's reform experience.