Communist China's Economy, 1949-1962: Structural Changes and Crisis

By Cheng Chu-Yuan | Go to book overview
per cent 21. This state capital accumulation laid the foundation for Communist China's state monopoly.Briefly, the extirpation of the middle-class and the establishment and increment of state capital occasioned profound consequences after 1949. Without the former, the success of the communist regime would have been uncertain. Without the latter, the course of the transformation of the private sector into state enterprises would have had to be prolonged.
REFERENCES
1. C. F. Remer, Foreign Investments in China ( New York: Mac- Millan, 1933), p. 76.
2. Wu Ch'eng-ming, "Imperialist Enterprises in China and Their Profits," Chung-kuo Kung-yeh (Chinese Industry) Monthly, Shanghai, Feb. 26, 1951.
3. Wang Ching-yu, "Why Old China Could Not Be Industrialized," Jen-min Jih-pao (People's Daily), May 21, 1953.
4. Ibid.
5. Wu Chiang, "Certain Characteristics in the Economic Developments of China's Capitalism", Ching-chi Yen-chiu (Economic Research), Vol. 1, No. 5 ( Peking: December, 1955), p. 64.

Before the Second World War, the average conversion rates between Chinese silver yuan and U. S. dollars were as follows: 1931 -- U. S. $0.2224; 1932 -- U. S. $0.2141; 1933 -- U. S. dollar;0.2637; 1934 -- U. S. $0.3425; 1935 -- U. S. $0.3670; 1936 -- U. S. $0.2991; 1937 -- U. S. $0.2973; see Arthur N. Young, China's Economic and Financial Reconstruction ( Shanghai: Commercial Press, 1947), p. 104.

6. Wu Chiang, op. cit., p. 72.
7. Ibid., p. 80.
8. Mao Tse-tung, On the Present Situation and Our Tasks, Selected Works, Vol. IV, p. 250.
9. J. L. Buck, Land Utilization in China ( Chicago: University of Chicago Press, 1937), p. 194.
10. Sung I-cheng, Chung-kuo nung-min ti ming-yun (The Fate of China's Peasants) ( Hong Kong: Chin-tai Chu-pan shê, 1954), p. 24.

One shih-mou equals 0.0667 hectares, or 0.1647 acres.

11. The situation was completely different in Russia before the 1917 revolution. According to James Mavor, some 14,800,000 of the 19,000,000 population in 1762-66 were serfs. ( James Mavor , An Economic History of Russia, 2nd ed., London, Dent, 1925, Vol. 1, p. 192). Until 1915, only 24 per cent of the peasants in European Russia owned their own farms. ( Harry Schwartz , Russia's Soviet Economy 2nd ed., New York, Prentice-Hall, 1954, p. 52.)

-9-

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Communist China's Economy, 1949-1962: Structural Changes and Crisis
Table of contents

Table of contents

  • Title Page i
  • Foreword iii
  • Preface v
  • Contents vii
  • List of Tables ix
  • Other Books by the Same Author xi
  • Abbreviations xii
  • Chapter 1 Introduction 1
  • References 3
  • Chapter 2 Major Features of China's Pre-Communist Economic Structure 4
  • References 9
  • Chapter 3 Chinese Communist Theories and Policies for Economic Structural Transformation 11
  • References 19
  • Chapter 4 Agricultural Collectivizsation 22
  • References 56
  • Chapter 5 Transformation of the Private Sector into the State-Operated Sector 60
  • References 82
  • Chapter 6 Establishment of the Central Planning Machinery and State Monopoly 84
  • References 104
  • Chapter 7 Basic Changes in the Component of the National Product 106
  • Chapter 8 Famine and Crisis 128
  • References 153
  • Chapter 9 Significance and Prospects 157
  • References 172
  • Chapter 10 Conclusion 175
  • Appendix a Note on Communist China's Statistical Data 181
  • References 189
  • Appendix II Conversion Tables 191
  • Selected Bibliography 194
  • Index 208
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