As China gains stature in the world economy, it has become apparent that we need better understanding of the enormous changes taking place in China's economy. This study makes a significant contribution toward filling this void by providing a comprehensive evaluation of the current policy issues in China's agriculture. The book will command the attention not only of policymakers in China but of all students of the Chinese economy and economies in transition from socialism.

China is still predominantly an agricultural country. Sixty percent of its labor force is engaged in farming and three-fourths of its population lives in rural areas. Although China's economic reform began in agriculture, its early success has not been sustained by continuing efforts to promote agricultural development. Rather the agricultural sector has supported the industrial sector's high rate of growth. But this situation cannot continue.

The authors present a systematic and incisive study on five interrelated areas: an exploration of the causes of the slowdown in agricultural output growth since the mid-1980s; the role of both output and input markets in agricultural development; the problem of excess labor in agriculture; the potential of rural industrial development to absorb of excess labor; and financial flows -- taxation, government expenditure, rural household savings and investment --in relation to agricultural growth. The authors conclude with suggestions for fundamental changes in China's agricultural policy that are needed if the nation is to feed its 1.2 billion people.

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