China

China is entering a critical phase in its move to a market economy, in which it will establish the basic institutional foundations of a market economy, including legal frameworks that will govern property rights, competition, corporate governance, intellectual property, bankruptcy, and contracts. Ongoing debates and discussions will have a major effect in determining the kind of market economy into which China will evolve. This provides a unique opportunity to think about the differences in institutional arrangements and their consequences-and what would normally be an academic exercise could turn out to have enormous impact for a quarter of the world's population. IPD's China Task Force convenes leading scholars and Chinese policy makers to discuss the challenges and opportunities facing the country as it transitions to a market economy.