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Ending Inflation in the People's Republic of China: From Chairman Mao to the 21st Century

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  • Richard C.K. Burdekin

    (Claremont McKenna College)

Abstract

In the post-1978 reform period the People’s Republic of China experienced its most serious open inflationary problems since 1949-1950. This paper compares the 1949-1950 case to more recent Chinese attempts at inflation control and considers the role played by budget deficits, indexation and direct intervention in commodity markets. While inflationary problems subsided by the mid-1990s, continuing deficit-spending pressures and weaknesses in China’s banking system still pose a very real danger. The financial reforms undertaken in the late 1990s include initiatives directed at the bad debts accumulated in China’s banks by loss-making state enterprises.

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File URL: http://www.claremontmckenna.edu/rdschool/papers/2000-08.pdf
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Paper provided by Claremont Colleges in its series Claremont Colleges Working Papers with number 2000-08.

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Handle: RePEc:clm:clmeco:2000-08

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Cited by:
  1. Richard C.K. Burdekin & Fang Wang, . "A Novel End to the Big Inflation in China in 1950," Claremont Colleges Working Papers, Claremont Colleges 1999-30, Claremont Colleges.

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