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China
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INTRODUCTION
China’s economy has grown at an annual average growth rate of 9% since the market orientated reforms began in 1978 (Huang and Rozelle, 2007), and is now the world’s second largest country with almost 10% of world GDP (World Bank, 2007). Agricultural reform has been “a major pillar of the fundamental economic reforms undertaken by China since 1978, resulting in a gradual transition from centrally planned economy towards a socialist market economy” (OECD, 2005 pg 1). The aim of this paper is to study what impact the reforms had on China’s economy, focusing particularly on the rural reforms, and the lessons that can be learnt from the Chinese experience. This paper is organised into four sections. The first section will briefly explore China in the pre-reform period. It will review the main policies China adopted from the Soviet style system of planning and what led China to later abandon the planning system and steer its economy towards the direction of a market economy. Most studies agree that, prior to the reforms, China neglected and starved its agricultural sector from resources in order to industrialise its economy rapidly. This made the agricultural sector operate inefficiently (Harry X. Wu, 1997) and since, for a developing country, the development of industrialisation depends on the performance of the agricultural sector (Cook, Yao and Zhuang, 2000), this inefficiency in the agricultural sector hindered industrialisation and the overall development o...
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