Economic Development of Communist China - by Choh-Ming Li

Book Synopsis

Economic Development of Communist China: An Appraisal of the First Five Years of Industrialization analyzes the rapid economic transformation in China between 1952 and 1957 under the First Five-Year Plan. Drawing from Chinese-language sources, the study focuses on the development of heavy industries like steel, with production rising from 1.35 million tons in 1952 to 5.24 million tons by 1957. Soviet aid played a pivotal role, contributing to the construction of 156 industrial projects, including those in mining, energy, and machinery. The overarching goal was to establish a socialist society through industrialization, with heavy industry being prioritized over consumer welfare. The plan set ambitious targets, including surpassing the United Kingdom in steel production by 1972, though it acknowledged the secondary importance of consumer goods.

While the industrial progress was notable, the study critiques the uneven development, particularly in agriculture. Despite the rapid industrial growth, agricultural investment remained disproportionately low compared to the focus on industrial sectors. The government's approach to socialization, including collectivization and price control, faced challenges in its execution. Although some sectors, like industry and trade, were effectively socialized by 1956, agriculture and other private sectors remained slower to fully transform. The study highlights the complexities of the socialist transition, questioning the sustainability of such rapid industrialization and its broader economic implications. It underscores the critical role of state control, Soviet assistance, and planned economic strategies in shaping China's industrial trajectory.

This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1959.