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• Case | HBS Case Collection | 2013 (Revised from original 2006 version)

  China: 'To Get Rich is Glorious'

  Richard H.K. Vietor and Julia Galef

  In 1978, Deng Xiaoping assumed the leadership of an impoverished China, after Mao Zedong's disastrous Cultural Revolution. During the next 17 years, Deng applied pragmatic policies to liberalize the Chinese economy gradually while maintaining the power of the Communist state. In hindsight, this strategy was among the most successful development strategies ever. Reviews Chinese political history and explores in detail eight parts of Deng's development strategy. Concludes by looking at the problems facing Jiang Zemin in 1997 as he takes control of China for the next leg of economic development.

  Keywords: History; Leadership; Privatization; Policy; Macroeconomics; Economic Systems; Development Economics; Government and Politics; Business Strategy; Growth and Development Strategy; China;

  Citation:

  Vietor, Richard H.K., and Julia Galef. "China: 'To Get Rich is Glorious'." Harvard Business School Case 707-022, April 2013. (Revised from original November 2006 version.)

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• Case | HBS Case Collection | 2013

  America's Budget Impasse

  Richard H.K. Vietor

  In the spring of 2013, Barak Obama faced a difficult budgetary challenge—reducing fiscal deficits over ten years without dampening the weak economic recovery but soon enough to avoid another breach of the debt ceiling, with potential default. Finally, in April, he released his budget—calling for spending cuts and tax hikes adding to 1.8 trillion (over ten years). However, in the preceding two weeks, both the House Republicans and the Senate Democrats had approved budget resolutions that were exceedingly different. Now, amidst flurries over gun control and immigration reform came the time to bargain on the macroeconomy of the United States.

  Keywords: United States; competitiveness; stimulus; Budgeting;

  Citation:

  Vietor, Richard H.K. "America's Budget Impasse." Harvard Business School Case 713-078, April 2013.

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• Case | HBS Case Collection | 2013 (Revised from original 2012 version)

  Turkey—A Work in Progress?

  Richard H.K. Vietor

  For the past 10 years, Turkey has grown its real GDP at about 6% annually. This came after a huge debt crisis in 2001-02, wherein Turkey had to borrow $16 billion more from the IMF and comport with its difficult conditionality. Today, Turkey is a middle-income country, in search of an effective development strategy. It tends to run high inflation with a devalued currency, despite massive capital inflows and a huge current account deficit. At home, the government has carefully managed between Islamicization, democracy and secularism. And abroad, it deals with a difficult neighborhood – Syria, Iran, Iraq, Israel (not to mention Russia, Europe and the USA). Prime Minister Erdogan is trying to rewrite the Constitution before 2014 when the next election occurs.

  Keywords: Turkey; Economy; Macroeconomics; International Relations; Growth and Development Strategy; Turkey;

  Citation:

  Vietor, Richard H.K. "Turkey—A Work in Progress?" Harvard Business School Case 713-018, February 2013. (Revised from original August 2012 version.)

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