Chinese Industrial Growth : Overall Level of Investment and Its Relation to General Growth Rate.

by Frederick M. Cone

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An evaluation of the investment ratio and overall economic growth in Communist China during the First Five-Year Plan period, 1952-1957. Estimates of a growth rate between 6 and 9 percent, supported by a massive investment ratio of 25 percent and an industrialization level approaching that of contemporary Japan and the United States, are highly questionable, even if the basic Chinese data are accepted. The investment ratio and growth rate are revalued to achieve greater comparability with those of other countries. The resulting calculations suggest an investment ratio of 10 to 12 percent for 1957 and an overall growth rate of 3 percent for the period. (See also RM-5625, RM-5662.) 98 pp. Ref.

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