Implications of foreign exchange control in post-Mao economy
William Liu
According to the author, socialism puts post-Mao China at a disadvantage in trade with the West on three scores: organisation of foreign trade, world price and exchange rate. He explores implications of foreign exchange control since 1949 when Peking first decided to put into effect its post-Mao open-door policy in conjunction with the launching of the Four Modernisations programme. (DÜI-Sen)