An Economic Survey of Communist China

By Yuan-Li Wu | Go to book overview

CHAPTER SIX
Industrialization, Planning and Socialization

I
RELATION BETWEEN FORCED INDUSTRIALIZATION, CENTRAL PLANNING, AND SOCIALIZATION

The two cornerstones of the Communists' initial program in China were the restoration of a semblance of economic stability and fiscal viability and the recovery and gradual collectivization of agricultural production through an initial process of land redistribution. At the risk of repetition, let us emphasize again that, from the economic point of view, the Communists' policy of rapid industrialization could not begin without first having suppressed the postwar hyper-inflation and assured the government of an expanding flow of revenue. Nor could the pace of industrialization be stepped up without a large supply of agricultural products under the control of the government. At the same time, the political overtone of the Communists' activities in the fiscal and agricultural spheres is also quite unmistakable inasmuch as without price stability, fiscal order, and tight control over the peasants the new masters of China would not have been able to achieve the degree of consolidation of political power that was necessary for the initiation of any large-scale development program such as was exemplified in the launching of the First Five Year Plan in 1953. Viewed from this particular angle it is perhaps not surprising that the program of industrial development was not initiated earlier. The years between 1949 and 1952 represented in every way a period of consolidation and preparation. Progress in industrial recovery coincided with the realization of the other indispensable conditions of rapid industrialization. By about the end of 1952 the stage was more or less set for a serious attempt to embark upon the path that, supported by the Soviet example, seems to hold the promise of greater national power and, if political condi-

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An Economic Survey of Communist China
Table of contents

Table of contents

  • Title Page ii
  • Preface vii
  • Contents ix
  • Chapter One - Introduction 1
  • Notes 10
  • Chapter Two - Background and Heritage 12
  • Notes 60
  • Chapter Three - Economic Stabilization and Fiscal Policy 64
  • Notes 108
  • Chapter Four - Land Redistribution and Its Implications 113
  • Notes 151
  • Chapter Five - Agricultural Production and Self-Sufficiency 154
  • Notes 189
  • Chapter Six - Industrialization, Planning and Socialization 192
  • Notes 232
  • Chapter Seven - An Appraisal of General Industrial Recovery and Development 238
  • Notes 275
  • Chapter Eight - Survey of Selected Industries 280
  • Notes 310
  • Chapter Nine - Forced Labor and Mass Labor Projects 316
  • Notes 338
  • Chapter Ten - Transportation and Domestic Trade 341
  • Notes 390
  • Chapter Eleven - Monetary and Banking Control 395
  • Notes 421
  • Chapter Twelve - Labor Organization and Wages 424
  • Notes 453
  • Chapter Thirteen - Foreign Economic Relations 456
  • Notes 496
  • Chapter Fourteen - Conclusion 501
  • Notes 507
  • Appendix 509
  • Index 552
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