Chinese Economic Reform: How Far, How Fast?

By: Bruce L. Reynolds

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Synopsis: Chinese Economic Reform: How Far, How Fast? focuses on China's economic reform and tackles topics ranging from the reformed price system and the macroeconomic mechanism to the dual pricing system in industry. The rapid growth in money income and government deficit is also examined, along with the relationship between price level, money supply, and GNP. Agricultural reform and the shortcomings of China's banking system as a tool for monetary control are considered as well. Comprised of 17 chapters, this book begins with an analysis of the impact of the two-tier plan/market system on the Chinese industry, followed by a discussion on the dual pricing system in the industry and money and price level determination in China. The reader is then introduced to China's macroeconomic policy and how it has been influenced by the reform process; money and the consumption goods market; and issues in the structural reform of agriculture. Subsequent chapters focus on the banking system; economic policy and income distribution; trade, employment, and inequality in post-reform China; and the stock-share system as an avenue for reforming the Chinese economy. Economic liberalization in China is also compared with that in India.This monograph will be of interest to economists and economic policymakers.