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T. E. Woronov

are ranked according to their success rate at producing students who do well on the UEE and enter universities; ‘key’ (zhongdian) schools are at the top of the academic hierarchy. The ways that the UEE drives curriculum and pedagogy throughout the Chinese education system have garnered tremendous attention, both in China and among the foreign media and researchers. Extensive research has described in detail the misery that this exam generates among young people and their families, as well as the ways the exam restricts learning to memorization tasks (e.g. Kipnis

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Wanning Sun

permissiveness and lust are often associated with exploitation, oppression or moral decay, performed by class enemies and individuals representing reactionary forces, and, in opposition to this, the revolutionary heroes and heroines are portrayed in a way which de-sexualizes them, thus symbolizing their political correctness and moral purity. Display of sexual desire as a natural, instinctual expression is seen to be incompatible with the revolutionary causes they embody. Cai’s analysis of a range of literary works, including novels such as Xiao Erhei Gets Married (Xiao Erhei

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Song Yu

married between 1948 and 1976 took account of both class labels and class-origin labels when choosing a partner (Xu 2000). Understandably, the cadres and soldiers tended to choose young, good-looking urban women who were politically respectable and reliable and who had regular employment. If not all the conditions could be met, it was common for them to settle for beauty (Zhang, Z. 2009). The popularity of cadres and soldiers in the marriage market and the pragmatic choices commonly made were in part responsible for the comparatively high divorce rates among couples

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Yingjie Guo

overview and case studies of class and stratification in the PRC, focusing on the post-Mao era. Change is a central thread running through the handbook. Specifically, it addresses the growing interest in fluctuations in the significance of class from the Mao era to the post-Mao era and the transformation of the PRC’s class map, status order, structures of inequality, causal components contributing to life chances, and class experiences. The changes in this regard are part and parcel of China’s transition since 1978 from a command to market economy and from a totalitarian

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Edited by Yingjie Guo

This comprehensive, interdisciplinary Handbook illustrates the patterns of class transformation in China since 1949, situating them in their historical context. Presenting detailed case studies of social stratification and class formation in a wide range of settings, the expert contributors provide valuable insights into multiple aspects of China’s economy, polity and society. The Handbook on Class and Social Stratification in China explores largely neglected contemporary topics such as women’s social mobility in relation to marriage and the high school entrance exam as a class sorter, placing it at the forefront of progressive literature.
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Xiaoyan Lei, Chuanchuan Zhang and Yaohui Zhao

.0 6.0 6.8 7.6 8.3 2.0 2.5 3.0 3.4 3.8 4.1 Note:  Table shows years of contribution at five-­year intervals. Source:  Authors’ estimates. the income dynamic of the rural household, it is also assumed that the premium increases at the same rate as net income. At the highest premium of CNY500 per year, 40 years of contributions only yield a replacement rate of 20.7 percent (Table 18.7). The guiding principles also require that funds in individual accounts are deposited with commercial banks, accruing at the yearly interest rate. A key parameter of the individual

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Yolanda Fernandez Lommen and L. Randall Wray

, although western experience shows that excessive inflation comes at a political cost. Hence, a slow transition to less reliance on corporate debt to finance economic growth would reduce financial fragility. In the financial instability hypothesis of Minsky (1986), income flows that only service debt are considered speculative finance. Minsky warned that a speculative position effectively becomes a Ponzi scheme if income falls or if interest rates rise when interest is capitalized and is serviced by additional borrowing. This is the danger an indebted corporate sector

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Managing the Middle-Income Transition

Challenges Facing the People’s Republic of China

Edited by Juhzon Zhuang, Paul Vandenberg and Yiping Huang

The growth model of the People’s Republic of China has been based on high investments, exports, low-cost advantage, and government interventions. This model has successfully transformed the country from a low-income to an upper middle-income economy. However, the model has generated contradictions that could undermine future growth. Making the transition to high income requires greater reliance on efficiency and productivity improvement, innovation, and market competition. This book examines the challenges faced by the People’s Republic of China in sustaining robust growth, and policy options for making a successful transition to a high-income economy to avoid getting caught in the middle-income trap.
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Ligang Song

investment share of GDP and an enormous current account surplus. The PRC’s savings and investment experience certainly needs explaining when set against the decline in the US savings’ rate in an era of loose fiscal and monetary policy, and in tandem with a social policy that encouraged broadening home ownership beyond its ‘natural’ perimeter (Brookings Institution 2004; Roubini and Setser 2005). Cross-­country studies of savings rates emphasize their positive relationships to income per capita levels, credit expansion, and GDP growth; their weak relationships with rates of

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Wing Thye Woo

-­dominating enterprises’ (Wade 1990: 18), and the controls on capital outflow to prevent the chaebols from using ‘public subsidies to build personal fortune abroad’ (Amsden 1989: 18). The trouble with Amsden’s narrative is that she was almost always seeing only the positive aspects of whatever intervention the government had undertaken. For example, when it helped the chaebols by channeling bank credit to them at subsidized interest rates, Amsden’s claimed positive outcome was that the government’s control of the purse ‘helped orient the chaebols toward accumulating capital rather than