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China has experienced over a quarter century of rapid economic growth, which has had a phenomenal impact on the global economy. Entering into the twenty-first century implies that China has begun a new phase of economic and social development. Yao reviews the economic development history of contemporary China from 1949 to the present, paying special attention to growth, inequality and poverty reduction. A real Chinese economic miracle should have two important features: high income growth and a fair distribution system so that poverty can be eradicated.
1. Introduction 2. Economic Performance in Contemporary China: An Overall Assessment 3. Agricultural and Rural Development 4. Openness and Economic Performance 5. Decomposition of Gini Coefficients by Population Class and Income Source: A Spreadsheet Approach and Application 6. Rural-Urban and Regional Inequality in Output, Income and Consumption under Reforms 7. Regional Inequality and Diverging Club 8. Understanding Income Inequality in China: A Multi-Angle Perspective 9. Further Study on Inequality and Poverty Reduction 10. Unemployment and Uurban Poverty 11. Is Migration a Way of Escaping Poverty in China?