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PART I ECONOMICS OF MAOISM REVISITED 1 Interpreting the economics of the Cultural Revolution 3 PART II DENG XIAOPING IN MAO'S MANTLE 2 Was Mao really necessary? An economist's perspective 31 3 Dengonomics and the Tiananmen Square incident 47 PART III AGRICULTURE IN CHINA'S INDUSTRIALIZATION 4 The rise of agricultural Dengonomics 63 5 The economics of the 'second land reform' 79 6 Peasant consumption and incomes in critical turn 89 7 Mao and agriculture in China's industrialization: three antitheses in a 50-year perspective 116 PART IV THE NEW INDUSTRIALIZATION STRATEGY 8 The three industrial imbalances 139 9 Growth imperatives, economic efficiency and 'optimum decentralization' 162 10 Bureaucratization, property rights and economic reforms 183 11 Inflation and industrial deregulation: the twin travellers 204 PART V FROM AUTARKY TO THE WTO 12 Foreign economic relations readjusted, 1979-84 227 13 The quest for WTO entry 250 References 262 Index 275