By Yiping Huang
The winning agricultural reform performed in China within the Seventies begun encountering mounting problems from the mid-1980s, as development premiums dropped and costs elevated sharply. This examine analyzes different reform measures brought in China some time past 20 years, and offers a whole research of the present agricultural process. via cautious exam of the political economic climate and the various coverage thoughts, the writer argues that China may still push ahead with its market-oriented reform measures and introduce the pains of foreign festival into the rural region.
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Extra info for Agricultural Reform in China: Getting Institutions Right (Trade and Development)
International trade negotiations are another important instrument helpful in influencing the domestic political economy of trade liberalisation (chapter 7). Many arguments in favour of agricultural protection emphasise that free trade hurts agriculture and farmers (both in terms of income and adjustment costs). But it is important to examine these arguments in a sophisticated quantitative framework. A number of policy choices, 16 Agricultural reform in China ranging from self-sufficiency, through implementation of the Uruguay Round agreement, to complete liberalisation, are simulated using the China model.
An underlying premise of this system was that the quick road to development lay in forcing growth of heavy industries. When Mao Zedong led the Communists to power in 1949, the new government inherited a war-torn agrarian economy. The ravages of the war had reduced production by 25 per cent in agriculture, 30 per cent in light industry and 70 per cent in heavy industry. The founding of Communist China initiated three years of rehabilitation bringing about significant recovery and dramatic growth to the economy.
To guarantee the success of heavy industry, agricultural production also had to meet strict quantity and structural targets as set out in detail by the state plan. But as households were the basic units of agricultural production, their objective was to maximise total income, not to fulfil state plans. Fulfilment of the state plan was only important to farmers when plan enforcement was effective and when the penalty for not fulfilling the plan was high. Theoretically, even in the absence of a free market, farmers could choose to consume more leisure if agricultural prices were too low.
Agricultural Reform in China: Getting Institutions Right (Trade and Development) by Yiping Huang