ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Revelance of China's Experience

Decentralisation and Local Accumulation

In China the phase of rapid growth was based on agriculture and other on-farm production which both reduced rural poverty and provided surpluses for industrial investment. But agriculture quickly came up against the barrier of diminishing returns - in the absence of technological change - and capital began to be diverted to other, more profitable investment activities. How has this drain of savings from rural to urban areas been reversed?



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