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.
About the Author
Shujie Yao is chair of economics at the Middlesex University Business School. He was previously professor of economics at the University of Portsmouth and research fellow at the University of Oxford. He is author and co-author of five books and has published extensively in a great number of economics journals. He has worked in many less developed countries as international economic advisor to the World Bank, UNDP, European Union, Asian Development Bank and the Department for International Development (UK). He is an editorial member of Food Policy and co-editor of Journal of Chinese Economic and Business Studies. His current research is on economic growth, agricultural and rural development, income inequality and poverty.
Table of Contents
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?