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To feed its 1.2 billion people, China may soon have to import so much grain that this action could trigger unprecedented rises in world food prices. In Who Will Feed China: Wake-up Call for a Small Planet, Lester Brown shows that even as water becomes more scarce in a land where 80 percent of the grain crop is irrigated, as per-acre yield gains are erased by the loss of cropland to industrialization, and as food production stagnates, China still increases its population by the equivalent of a new Beijing each year. When Japan, a nation of just 125 million, began to import food, world grain markets rejoiced. But when China, a market ten times bigger, starts importing, there may not be enough grain in the world to meet that need - and food prices will rise steeply for everyone. Analysts foresaw that the recent four-year doubling of income for China's 1.2 billion consumers would increase food demand, especially for meat, eggs, and beer. But these analysts assumed that food production would rise to meet those demands. Brown shows that cropland losses are heavy in countries that are densely populated before industrialization, and that these countries quickly become net grain importers. We can see that process now in newspaper accounts from China as the government struggles with this problem.
China is perhaps the most prominent example of a developing country that has transitioned from taxing to supporting agriculture. In recent years, Chinese price supports and subsidies have risen at an accelerating pace after they were linked to rising production costs. Per-acre subsidy payments to grain producers now equal 7 to 15 percent of those producers' gross income, but grain payments appear to have little influence on production decisions. Chinese authorities began raising price supports annually to bolster incentives, and Chinese prices for major farm commodities are rising above world prices, helping to attract a surge of agricultural imports. U.S. agricultural exports to China tripled in value during the period when China's agricultural support was accelerating. Overall, China's expansion of support is loosely constrained by World Trade Organization (WTO) commitments, but the country's price-support programs could exceed WTO limits in coming years. Chinese officials promise to continue increasing domestic policy support for agriculture, but the mix of policies may evolve as the Chinese agricultural sector becomes more commercialized and faces competitive pressures.
China's agricultural production and food consumption have increased tremendously, leading to a complete evolution of agro-food markets. The book is divided into two parts; the first part reviews the theoretical framework for the 'social construction of the markets,' while the second part presents the implication for the agro-food markets in China.
This book identifies the main challenges Chinese agriculture is confronting and considers how these challenges might be met. The performance of China's agricultural production is comprehensively assessed while the factors that affect agricultural productivity are examined through detailed econometric analysis and up to date nationally representative data.
How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
Monograph on the re-orientation of China's economic policy since 1977 towards rapid modernization based on "market socialism" and expansion of external economic relations - evaluates foreign policy changes, forecasts prospects in the 1980s for trade and economic growth, and discusses technology imports, international relations, international borrowing, role in world food and energy balances, trade relations and technology transfer prospects for developed countries, partic. USA, and international organizations, etc. References and statistical tables.