ABSTRACT
Hu Jintao's administration promoted the goals of central planning more than it promoted the goals of ethics and efficiency. Some of the biggest successes of the Hu Jintao administration came from meeting the central planning goal of increasing international prestige. The government restrictions were not "market efficient," and the banks found ways to be "profit efficient" in spite of the government's concerns. The informal banks that flourished under Hu Jintao could be viewed as market efficient; however, these informal markets resulted in some major losses during both the Hu Jintao and Xi Jinping years. Hu Jintao's goal of creating a harmonious society has a strong ethical undercurrent, because harmony presupposes a foundation of ethics. In spite of the great successes of China's space program, the 2008 Beijing Olympics, and the 2010 Shanghai Expo, Hu Jintao lost power in China when his signature agenda, creating harmony, did no.
