ABSTRACT
As a pioneer in Deng Xiaoping's reform program, Guangdong's development experience has received extensive scholarly treatment. 1 Studies of the province's economic success generally underscore its pioneering and effective political leadership, the early conferment of special policies by the central government, a favorable geographical location, a market-oriented development strategy that capitalizes on comparative advantages, as well as a decentralizing reform program that enhances the autonomy of sub-provincial governments. 2 Insightful as they are in accounting for the province's achievements, these observations cannot account for the shortcomings and limitations of provincial development. In the 1990s, the internal and external environments for development in Guangdong both underwent significant change.
