The Politics of Centralization in China

In the 1980s there seemed to develop a consensus among the leadership among Deng Xiaoping and the people around him that the tremendous centralization of the economic policy making process under Mao had been a big mistake for China. The main purpose of the anti-corruption campaign is widely perceived to be within China as one of re-centralizing power into Beijing now again wearing my banker's hat that means among other things you want to re-centralize the credit allocation process.