U.S.- China relations received considerable attention in 1998, mainly because of the Asian economic crisis and the key role that China plays in maintaining currency stability. All of the discussion surrounding China, however, appears to have overlooked one important fact: last year marked the 20th anniversary of market-oriented reforms in China.
CIPE has been active in encouraging reform in China since 1986. But CIPE's programs there took a big step forward five years ago when CIPE linked up with the Chinese Economists Society (CES), an association of reform-oriented Chinese-born economists holding faculty positions at North American universities. This unique group of Western-educated professors enjoys growing influence and credibility among policymakers in China, and CIPE has co-sponsored seven programs with CES in the past five years.
The most recent CES/CIPE event was a conference on the economic and social principles of a new social security system to fit China's emerging market economy. Held in Beijing, this high-profile event brought together more than 100 researchers, government policymakers, journalists, and academics, including such experts and practitioners as Dr. Martin Feldstein of Harvard University and Dr. Henry Aaron of the Brookings Institution.
The two-day session laid new groundwork in the effort to encourage private sector involvement in China's social security process. It also provided insights into how China may best transition to a market-oriented social security system that suits China's unique needs as the world's most populous nation. Following the event, a summary of conference highlights was disseminated to China's Politburo, National People's Congress, ministries, and a wide range of policymakers and representatives of business, media, and academia.
Some of the other projects on which CIPE and CES have cooperated in recent years include:
The CES/CIPE partnership also led to production of two highly successful book series. The first, Popular Market Economics, a 14-volume set published in 1993, won the coveted China National Book Award and has sold more than 420,000 copies. The second, Popular Business Management Book Series, is a 12-volume set that has sold 120,000 copies and recently won a prestigious award sponsored by Economics Daily newspaper. The publications have been accessed by policymakers in 27 out of China's 31 provinces.
Working together, CES and CIPE have been remarkably successful in reaching out to Chinese reformers in Beijing and around the nation. This cooperative effort is encouraging China's transition to a market economy by providing policymakers and business executives with practical, high quality data and advice that is appropriate for China's far-flung population. Most important, perhaps, CES and CIPE have been building a base of talented and knowledgeable entrepreneurs who will have an impact on China's leadership well into the 21st Century.