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.
'This book offers serious academic research drawn from the author's own papers published in many academic journals. It's even accessible to readers with limited technical background and is a must for anyone even slightly interested in modern China.' - The China Journal
'Yao provides a wide-ranging analysis.' - The China Journal
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?