Tag Archives: Profit
The History and Changes of Agriculture (2)
The changes sweeping China’s agriculture are not limited to the transition to an open market. Urbanization is having a deep effect on labor and land supply. Rural residents are attracted to the higher wages of China’s cities. Urban migration is partly controlled by a house hold registration system, but with decreased enforcement, China is seeing [...]
Posted in History of China
Tagged agriculture, consumption, farmland, labor, migration, Profit, self-sufficiency, township enterprise
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Economic reform in the People’s Republic of China (3)
History (2) The first major success of the economic reform program was the introduction of the responsibility system of production in agriculture, a policy that allowed farm families to work a piece of land under contract and to keep whatever profits they earned. By 1984 the responsibility system had dramatically increased food production, and the [...]
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