Chinese Economy Readings

Front 1

Justin Yifu Lin

Back 1

Collectivization and China’s Agricultural Crisis 1959-1961,
and I proposed that the collapse in 1959-61 was mainly caused by the deprivation of the right to withdraw from collective in the fall of 1958

Front 2

Mutual teams?
Elementary cooperatives ?
Advance cooperative?

Back 2

Mutual teams? people ( about 5 neighbors)
•Elementary cooperatives -20 to 30 neighbors
Advance cooperative- Payment was given based on labor input in form of points

Front 3

Justin Yifu Lin-The Needham Puzzle

Back 3

why the industrial Revolution did not originate in China- contradiction to high level equilibrium trap

Front 4

The high level equilibrium trap

Back 4

High population growth with a limited amount of land and technology at the time might of be a reason for “stop” in surplus and in China’s advancement.

Front 5

Justin Yifu Lin-The Needham Puzzle, what is the reason ?

Back 5

technology advancement, no scientific advancement

Front 6

Lawrence J. Lau

Back 6

Reform without Losers: an interpretation of Chinas Dual track approach to Transition

Front 7

Difference between limited market and full market

Back 7

o Limit market- can’t resale inputs, it must produce with those inputs
o Full market – it can resale inputs as long as they delivered the require quotas

Front 8

Reasons for success in the dual track liberation in China

Back 8

o The plan was still credible and production under the plan continue
o Non SOE had more incentives then SOE
o All kinds of firms were free to chose there inputs.
o the Chinese experience in the product market liberaliza- tion is close to the case of full market liberalization because resales, subcontracting, and purchases for redelivery were not prohibited.
o No layoffs or reduction in wages existed till the late 1990’s

Front 9

Janos Kronai

Back 9

The Soft Budget Constraint

Front 10

Younzheng Cao

Back 10

From Federalism to Chinese style to privatization , Chinese style-PAPER will first look at the difference between the privatization in China from Eastern Europe and Russia,

Front 11

Three main types of sales of enterprises

Back 11

• Sold to national firms of foreign
• Transform into limited liability company or companies
Stock cooperatives- where most shares were sold to employees

Front 12

Elvin’s High-Level Equilibrium Trap

Back 12

Discontinuity in agriculture: yields as high as possible without advanced science, growing population pressure on land made land scarce and led to disappearance of surplus for investment

Front 13

Pomeranz: the Great Divergence

Back 13

lack of energy inputs (coal), which increased costs.
These problems were overcome in Europe by the colonies and cheap and plentiful coal supplies.

Front 14

Qinling mountains

Back 14

dividing north and south China

Front 15

•1949
•1953-57
•1958-61
•1962-65
•1966-1976
1978-Present

Back 15

• 1949 Founding of the People’s Republic of China
• 1953-57 Early planning period
• 1958-61 Great Leap Forward
• 1962-65 Recovery and moderation
• 1966-1976 Great Proletarian Cultural Revolution
• 1978-Present Economic Reforms

Front 16

Jeffrey Sach’s

Back 16

Arguments against the Chinese, Agriculture has stagnated, TVE employment has waned, inequalities have risen, TVE structure limits scale (difficult to manage, no access to equity market), local leaders pursue regional protectionism, SOE problems getting worse – large inefficiencies in the economy!

Front 17

5 Requirements for Successful Performance of TVE

Back 17

Unskilled labor
•Skilled labor
•Capital
•Markets
•Entrepreneurship

Front 18

Disadvantages of TVE

Back 18

• 1. Nonprofit objectives – wages, employment, revenue
• 2. Local protectionism
• 3. Ad hoc levies