The Management of China's Modernisation and its Impact on the Rest of the World

Following mistakes of the past fifteen years, the Chinese economy is entering a new phase in which ever increasing investment in heavy industry gives way to a planned growth in people's consumption and standard of living. This is being accompanied by the abolition of state monopoly, by the abandonment of “sole dealing”, and by allowing prices to be more flexible. The proposed changes will open the Chinese economy to more foreign trading.