From Poverty to Prosperity: The A-C Theory to Explain China’s Growth Miracle and Its International Applicability (Understanding China)

This book uses a new political economy theoretical framework (A-C theory) to explain why China has been able to create economic growth miracles in the past few decades and achieve prosperity from poverty in a relatively short period of time.The A-C theory is based on two core concepts: "economic accessibility" and "political cohesion", emphasizing that the combination of cohesive political governance and access to an open economic system is the institutional basis for driving a country’s economy on the road to prosperity-from poverty to wealth.Among them, cohesive political governance is usually political governance that creates a peaceful and stable social order, effectively builds a consensus, and promotes collective action, as opposed to conflictual political governance.An open-access economic system is one that guarantees people the opportunity to participate voluntarily in economic activities, as opposed to a restricted-access economic system.It is the shift from conflict-based po