The New Economic Policy Frame

A. S. Bhalla

Chapter 2 in Economic Transition in Hunan and Southern China, 1984, pp 31-55 from Palgrave Macmillan

Abstract: Abstract Since 1978 the Chinese government has adopted a series of measures for economic ‘reforms, readjustment and restructuring’.1 These reforms have been motivated largely by the need to: (i) ensure greater efficiency in resource use rather than pure resource mobilisation; (ii) give more emphasis to consumption (and hence to production of consumer goods) than to investment; (iii) delegate management and planning responsibility to lower echelons of administrative hierarchy with a view to encouraging ‘local initiatives’; (iv) provide greater decision-making power to the state enterprises in respect of production-mix and factor use, and (v) promote private sector sideline activities in urban and rural areas for employment and income generation.

Keywords: Economic Transition; Heavy Industry; State Enterprise; Light Industry; Urban Youth (search for similar items in EconPapers)
Date: 1984
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DOI: 10.1007/978-1-349-07207-1_2

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