Abstract
THIS ARTICLE uses a general equilibrium model in illustrating the pattern of production and consumption in a planned economy, and the distortions and inefficiencies caused by the price system in China. The essay suggests that the on-going economic reforms in China are not tendencies away from the socialist order, nor the realization of the superiority of the market system. Pricereform in China is not really indicative of ful acceptance of the market system but rather a rationalization of prices, according to the law of value within the framework of a socialist economic order.
Recommended Citation
Tullao, Tereso S. Jr.
(1987)
"A General Equilibrium Analysis of the Price Reforms in China,"
DLSU Business & Economics Review: Vol. 1:
No.
1, Article 9.
DOI: https://doi.org/10.59588/2243-786X.1652
Available at:
https://animorepository.dlsu.edu.ph/ber/vol1/iss1/9
