China's large and growing population places heavy requirements on domestic grain production. Grain shortages have been a frequent problem in China over the last 50 years. The Chinese government has struggled for many years to find a way of guaranteeing the supply of grain to its citizens, often relying on ineffective or counterproductive policy measures such as forced supply quotas or subsidies. Since the 1970s, the Chinese government has gradually, haltingly introduced policies that seek to introduce market forces and profit incentives to the production of grain. This book analyzes this process, examining advances in grain marketing reforms over the last three decades, the regional grain trade within China, and the level of integration in Chinese grain markets. China has not moved to a full market system. Many characteristics of a centrally planned economy remain, and government intervention is still common. China's future grain supply will depend on the capacity of the Chinese leader

The development of China's grain marketing system is a crucial part of economic reform. The focus of this book is on the development of the domestic marketing system. Issues examined include the pace and content of reform so far, the development of wholesale markets, and the growth of a complementary financial system. Of special interest is the impact of marketing reform on regional trade patterns in the domestic market and implications for China's international grain trade policy.

The development of China's grain marketing system is a crucial part of economic reform. The focus of this book is on the development of the domestic marketing system. Issues examined include the pace and content of reform so far, the development of wholesale markets, and the growth of a complementary financial system. Of special interest is the impact of marketing reform on regional trade patterns in the domestic market and implications for China's international grain trade policy.

China now faces the difficult choice of whether to pursue a food self-sufficiency policy or further integrate its agriculture into the world market. China's choice will have profound implications for the world trading system, as well as for its own economy. At the same time, China needs to reform its land tenure and grain marketing systems. This book examines these majority policy issues using up-to-date information and empirical evidence.

This book explains how policy changes affect farmers' production incentives and efficiency of resource allocation within and outside agriculture in modern China, paying particular attention to the effects of technical inputs on yield and efficiency of spatial crop production pattern. Drawing experiences of agricultural development in different periods after independence and employing two different quantitative techniques, it concludes that government's long term tendency to undermine the role of agriculture, lack of state investment and the inconsistency of market reforms are three major threats to sustained grain production and agricultural growth in China.

China and India are the most extraordinary economic success stories of the developing world. Both nations’ economies have grown dramatically over the past few decades, elevating them from two of the world’s poorest countries into projected economic superpowers. As a result, the numbers of Chinese and Indians living in poverty have rapidly fallen and per capita incomes in China and India have quadrupled and doubled, respectively. This book investigates the reasons for these staggering accomplishments and the lessons that can be applied both to other developing nations and to the problem of poverty that remains in these two countries. The contributors pay particular attention to agriculture and the rural economy, examining how initial conditions and investments and the prioritization and sequencing of different policies and strategies have led to successes, and how the agricultural and rural sectors connect to overall economic expansion. They also emphasize the importance of anti-poverty programs and safety nets in helping poor people escape poverty. The book offers a set of policy and strategic options for future growth and poverty reduction. These include setting the right priorities for public spending, identifying trade and market reforms, building social safety nets for the poorest of the poor, and building accountable institutions that can provide public goods and services effectively. The book concludes by examining future challenges to China and India’s economic development, such as the need to ensure growth that is sustainable, equitable, and environmentally friendly. The Dragon and the Elephant offers valuable insights to development specialists anxious to multiply the benefits experienced by two of the greatest economic successes in recent times.