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  • Cited by 1
  • Print publication year: 2011
  • Online publication date: June 2012

Chapter 7 - Dilemmas of globalization and governance


As the prospect of Deng Xiaoping's passing loomed in 1995, there were considerable grounds for skepticism that the pace and scale of change that China had witnessed since he launched the reform era in 1978 would continue. In China's still partially reformed economy, Beijing had yet to transform the sagging state-owned industries – a project begun in 1984 – nor had it secured the legal foundations of the fast-growing private sector in its broader political economy. The PRC was emerging as a major player in world trade, yet it remained outside the newly established World Trade Organization (WTO) system, despite a major push by Beijing to join in 1994.

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