Wu Jinglian
Encyclopedia
Wu Jinglian is one of the preeminent economist
s of the People's Republic of China
(PRC), primarily specializing in economic policy
as it applies to China's ongoing series of economic reforms
.
Renowned for his resolute conviction that socialism is compatible with a market system, he is affectionately referred to in the media as Wu Shichang (吴市场; "Market Wu").
Wu currently holds multiple positions, the most important of which are: Professor of Economics at both the China Europe International Business School
and the Chinese Academy of Social Sciences
; Senior Research Fellow for the Developmental Research Centre of the State Council of the PRC
; and Member of the Standing Committee of the Chinese People's Political Consultative Conference
.
Wu graduated from Fudan University
with a degree in economics in 1954. Through his long career, he has, in addition to his professorships at Chinese universities, been visiting researcher and professor at a number of international universities, including Yale
, MIT
, Duke
, Stanford
, and Oxford.
A prominent target of political persecution during the Cultural Revolution, Wu was criticized for advocating the doctrine of "bourgeois right," more simply understood as the principle of "compensation according to work."
He was forced to make public denunciations of his revered teacher Sun Yefang
, for which he later expressed deep regret. He has honoured the memory of another victim of political persecution, Gu Zhun
, whose unyielding character and pioneering attempts to revise Marxian economics in a market-oriented direction were for Wu a source of enlightenment.
Having called for China's opening up and celebrated its entry to the WTO, Wu was distressed by the side-effects of rapid growth: corruption, inequitable distribution, and crony capitalism
. In the last ten years he has joined Qin Hui
, He Qinglian
and other public intellectuals in raising social justice
to prominence on the policy agenda.
Wu is also the author of a number of books on China's economic reform.
In 2008, state-owned media in China started calling Wu a spy for the U.S. The fact state-owned newspaper People Daily was authorized to call him such indicates that his economic and political ideas are great annoyances for the current leadership.
Wu pointed out that “old-style Maoists” have been gaining influence in the government since 2004. These groups, he said, are pressing for a return to central planning and placing blame for corruption and social inequality on the very market reforms he championed.
Wu also pointed out that corrupt bureaucrats are pushing for the state to take a larger economic role so they can cash in on their positions through payoffs and bribes, as well as by steering business to allies.
Because of these developments, Wu is not optimistic about the future of China, because “[t]he Maoists want to go back to central planning and the cronies want to get richer.”
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
s of the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
(PRC), primarily specializing in economic policy
Economic policy
Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy.Such policies are often...
as it applies to China's ongoing series of economic reforms
Chinese economic reform
The Chinese economic reform refers to the program of economic reforms called "Socialism with Chinese characteristics" in the People's Republic of China that were started in December 1978 by reformists within the Communist Party of China led by Deng Xiaoping.China had one of the world's largest...
.
Renowned for his resolute conviction that socialism is compatible with a market system, he is affectionately referred to in the media as Wu Shichang (吴市场; "Market Wu").
Wu currently holds multiple positions, the most important of which are: Professor of Economics at both the China Europe International Business School
China Europe International Business School
China Europe International Business School is one of the three international business schools affiliated with Shanghai Jiao Tong University located in Shanghai, China. The school was established in 1994 in Beijing as a joint venture between the European Commission, the Chinese Ministry of Foreign...
and the Chinese Academy of Social Sciences
Chinese Academy of Social Sciences
The Chinese Academy of Social Sciences , established in 1977, is the premier and highest academic research organization in the fields of philosophy and social sciences as well as a national center for comprehensive studies in the People's Republic of China. It was described by Foreign Policy...
; Senior Research Fellow for the Developmental Research Centre of the State Council of the PRC
State Council of the People's Republic of China
The State Council of the People's Republic of China , which is largely synonymous with the Central People's Government after 1954, is the chief administrative authority of the People's Republic of China. It is chaired by the Premier and includes the heads of each governmental department and agency...
; and Member of the Standing Committee of the Chinese People's Political Consultative Conference
Chinese People's Political Consultative Conference
The Chinese People's Political Consultative Conference [], shortened as 人民政协, Rénmín Zhèngxié, i.e. "People's PCC"; or just 政协, Zhèngxié, i.e. "The PCC"), abbreviated CPPCC, is a political advisory body in the People's Republic of China...
.
Wu graduated from Fudan University
Fudan University
Fudan University , located in Shanghai, is one of the oldest and most selective universities in China, and is a member of the C9 League. Its institutional predecessor was founded in 1905, shortly before the end of China's imperial Qing dynasty...
with a degree in economics in 1954. Through his long career, he has, in addition to his professorships at Chinese universities, been visiting researcher and professor at a number of international universities, including Yale
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
, MIT
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
, Duke
Duke University
Duke University is a private research university located in Durham, North Carolina, United States. Founded by Methodists and Quakers in the present day town of Trinity in 1838, the school moved to Durham in 1892. In 1924, tobacco industrialist James B...
, Stanford
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
, and Oxford.
A prominent target of political persecution during the Cultural Revolution, Wu was criticized for advocating the doctrine of "bourgeois right," more simply understood as the principle of "compensation according to work."
He was forced to make public denunciations of his revered teacher Sun Yefang
Sun Yefang
Sun Yefang was a pioneering Chinese economist.He studied at Sun Yat-sen University and after graduation, he taught political economy and translation at Zhongshan University and at Moscow East Worker University....
, for which he later expressed deep regret. He has honoured the memory of another victim of political persecution, Gu Zhun
Gu Zhun
Gu Zhun 顾准 （1915-1974) was an intellectual, economist and pioneer of post-Marxist Chinese liberalism. A victim of "anti-Rightist" purges he spent his later life in prisons and reeducation centres....
, whose unyielding character and pioneering attempts to revise Marxian economics in a market-oriented direction were for Wu a source of enlightenment.
Having called for China's opening up and celebrated its entry to the WTO, Wu was distressed by the side-effects of rapid growth: corruption, inequitable distribution, and crony capitalism
Crony capitalism
Crony capitalism is a term describing a capitalist economy in which success in business depends on close relationships between business people and government officials...
. In the last ten years he has joined Qin Hui
Qin Hui
Qin Hui is the name of:*Qin Hui , Prime Minister of the Southern Song Dynasty*Qin Hui , Professor of History in Tsinghua University...
, He Qinglian
He Qinglian
He Qinglian is a Chinese author and economist, most prominently known for her critical view of Chinese society and media controls in China.-Biography:...
and other public intellectuals in raising social justice
Social justice
Social justice generally refers to the idea of creating a society or institution that is based on the principles of equality and solidarity, that understands and values human rights, and that recognizes the dignity of every human being. The term and modern concept of "social justice" was coined by...
to prominence on the policy agenda.
Wu is also the author of a number of books on China's economic reform.
In 2008, state-owned media in China started calling Wu a spy for the U.S. The fact state-owned newspaper People Daily was authorized to call him such indicates that his economic and political ideas are great annoyances for the current leadership.
Wu pointed out that “old-style Maoists” have been gaining influence in the government since 2004. These groups, he said, are pressing for a return to central planning and placing blame for corruption and social inequality on the very market reforms he championed.
Wu also pointed out that corrupt bureaucrats are pushing for the state to take a larger economic role so they can cash in on their positions through payoffs and bribes, as well as by steering business to allies.
Because of these developments, Wu is not optimistic about the future of China, because “[t]he Maoists want to go back to central planning and the cronies want to get richer.”
Books
- Fifteen Critical Issues of the Reform of SOEs, 1999
- Reform: Now at a Critical Point, 2001
- Understanding and Interpreting Chinese Economic Reform, Texere, 2005 (ISBN 1-58799-197-7)