Contradictions Faced by the Chinese Economy in the 1990s and Policies to Be Adopted

Wang Mengkui and Lin Zhaomu

Chinese Economy, 1991, vol. 25, issue 2, 63-76

Abstract: The 1990s will be a crucial period in Chinese economic and social development. In this decade, economic progress and system reform will be facing even tougher tasks than in the last decade. Needless to say, there are two possible outcomes: If things go right, China will be able to adjust its economy and reform its economic system smoothly and development will be sound and healthy. The Chinese economy will reach a new plane and realize the strategic goals set for the end of this century, and the country will attain a middle-income level from its present low-income level. If things go wrong, present socioeconomic contradictions will remain unresolved and the country will find itself in an economic impasse where progress and retreat are equally difficult. The gap between international economic and scientific and technological levels will widen.

Date: 1991
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