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Acknowledgments vii

1. Introduction: The Chinese Economy in Context 1

Ⅰ Legacies and Setting 21
2. The Geographic Setting 23
3. The Chinese Economy Before 1949 43
4. The Socialist Era, 1949-1978: Big Push Industrialization and Policy Instability 65
5. Market Transition: Strategy and Process 95
6. The Urban-Rural Divide and Chinese-style Urbanization 127

II Patterns of Growth and Development 153
7. Growth and Structural Change 155
8. Population: Demographic Transition, the Demographic Dividend, and the One-Child Policy 185
9. Labor and Human Capital 209
10. Living Standards: Income, Inequality, and Poverty 237

III The Rural Economy 257
11. Rural Organization 259
12. Agriculture: Technology, Production, and Policy 279
13. Rural Industrialization: From Township and Village Enterprises to Taobao Villages 307

Ⅳ The Urban Economy 331
14. Industry: Ownership and Corporate Governance 333
15. Technology and Industrial Policy 363

V China and the World Economy 395
16. International Trade 397
17. Foreign Investment and the Capital Account 423

VI Macroeconomics and Finance 451
18. Macroeconomic Policy: Instruments and Outcomes 453
19. The Financial System 479
20. The Fiscal System 513

VII Conclusion: China's Future 541
21. Environmental Quality and the Sustain ability of Growth 543

Index 571

The new edition of a comprehensive overview of the modern Chinese economy, revised to reflect the end of the "miracle growth" period.

This comprehensive overview of the modern Chinese economy by a noted expert on China's economic development offers a quality and breadth of coverage not found in any other English-language text. In The Chinese Economy, Barry Naughton provides both a broadly focused introduction to China's economy since 1949 and original insights based on his own extensive research. This second edition has been thoroughly revised to reflect a decade of developments in China's economy, notably the end of the period of "miracle growth" and the multiple transitions it now confronts--demographic, technological, macroeconomic, and institutional. Coverage of macroeconomic and financial policy has been significantly expanded.

After covering endowments, legacies, economic systems, and general issues of economic structure, labor, and living standards, the book examines specific economic sectors, including agriculture, industry, technology, and foreign trade and investment. It then treats financial, macroeconomic, and environmental issues. The book covers such topics as patterns of growth and development, including population growth and the one-child family policy; the rural and urban economies, including rural industrialization and urban technological development; incoming and outgoing foreign investment; and environmental quality and the sustainability of growth.

The book will be an essential resource for students, teachers, scholars, business practitioners, and policymakers. It is suitable for classroom use for undergraduate or graduate courses.