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By Peter Harrold, Erh-Cheng Hwa, Lou Jiwei, Jiwei Lou

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Extra resources for Macroeconomic Management in China: Proceedings of a Conference in Dalian, June 1993 (World Bank Discussion Paper)

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However, today it is more frequently used in China by government officials, entrepreneurs and economists than in any other country. What this could mean is that people often use the term in a very broad or even confusing way. This is hardly surprising. " Neither independent micromechanisms nor independent macromechanisms existed. China's economic reform is a constant process of separating the micro- and macromechanisms from each other, a process which is still evolving. However, China's economic reform has entered into a mid-term and maturity period, with the explicit goal of developing a socialist market economy system.

Stephen D. Mink No. 190 Natural Gas in Developing Countries: Evaluating the Benefits to the Environment. John Homer No. 191 Appropriate Macroeconomic Management in Indonesia's Open Economy. Sadiq Ahmed No. 192 Telecommunications: World Bank Experience and Strategy. W. C. A. All rights reserved Manufactured in the United States of America First printing November 1993 Discussion Papers present results of country analysis or research that are circulated to encourage discussion and comment within the development community.

In some rural areas with developed township industries, the distribution of income is fair enough. Yet the overall situation leaves much to be desired. On the one hand, egalitarian income distribution is Page 10 still the trend in many state-owned enterprises, government departments and some collective enterprises, with the growth of wages and welfare benefits outpacing that of economic growth. On the other hand, prevalent "rent-seeking," a product of the "dual-track" structure that hunts for nonbusiness profit, has occurred throughout the country.

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