Acknowledgements ........................................... vii
Introduction ................................................. 1
1 Overview ..................................................... 2
2 Agriculture ................................................. 83
Some general facts andfigures about agriculture ............. 86
Reforms: the Household Responsibility System ................ 87
Early agricultural successes ................................ 89
The gap between urban and rural incomes ..................... 90
Migration from the countryside .............................. 91
Problems in agriculture ..................................... 93
Changes in agricultural policy since 2005 .................. 109
Agriculture and the World Trade Organization ............... 117
3 The market gradually replacing central planning ............ 119
Prices ..................................................... 121
Monetary policy ............................................ 135
4 The reform of state industrial enterprises ................. 287
The discarding of social functions ......................... 287
Shareholding and privatization ............................. 293
Conglomerates .............................................. 342
A chronology of developments in ownership policy and
state enterprise reform .................................... 350
Financing investment: the debate ........................... 362
The role of the party in enterprises ....................... 372
The non-state, non-agricultural sectors .................... 373
The percentage of industrial output contributed by
various sectors ............................................ 374
The private sector as a whole as a percentage of GDP ....... 375
The private, non-agricultural sector as a percentage of
GDP ........................................................ 376
Township-village enterprises ............................... 380
5 The 'open-door' policy ..................................... 385
Foreign trade .............................................. 385
The WTO .................................................... 394
Yuan convertibility and exchange rate policy ............... 434
The Asian financial crisis and subsequent developments ..... 494
Direct foreign investment................................... 495
6 Economic performance ....................................... 597
China and world prices, especially oil prices .............. 601
GDP growth ................................................. 604
Poverty .................................................... 610
Inflation .................................................. 611
Unemployment ............................................... 612
Pollution .................................................. 613
The number of labour disputes .............................. 649
Aid ........................................................ 649
Education .................................................. 650
Postscript ................................................. 652
Bibliography ............................................... 706
Index ...................................................... 717
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