Professor Baocheng Liu

Sino-French School of International Management,
University of International Business and Economics, Beijing, China

This paper discusses six different phases of China’s contemporary economic development, focusing on the interactive relationship between its economic system and its indigenous cultural roots. The six phases include: Why a planned economy after 1949, The landmark reform, The Changing Landscape, What goes beyond, Interaction of economy and culture, as well as the Conclusion. It concludes that China’s economic system follows a combination of Chinese tradition, Western ideology, and Marxists principles; therefore it cannot follow the exact Western footprint.