Economic Reform: Price Readjustment (1978-87)

Zhou Junhua

Chinese Economy, 1991, vol. 24, issue 3, 6-25

Abstract: The People's Republic of China for thirty years maintained a state monopoly in the purchasing and selling of farm products, largely because of chronic shortages. Great changes, however, have taken place since the adoption of the economic reform policy in 1978. While the benefits brought about by the reform have won loud applause from one segment of society, drastic shifts in price readjustment have also drawn complaints, and in some cases even fire, from another portion of the population. How to assess the economic reform and price readjustment largely depends on the angle from which one views these events.

Date: 1991
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