Sixteen papers take a critical look at the first decade of China's post-Mao economic reforms and assess the path down which the economy might travel in the future. Includes an introduction, which presents a background to the Chinese reforms of the 1980s. Part 1 focuses on the direction China is headed in; reform of the economic operating mechanism and reform of ownership; market socialism and democracy; dynamic equilibrium in socialist economic reform; and China's new development path. Part 2 examines the following aspects of reform: prices, enterprise reform, the stock market in a socialist economy, the rural economy, income distribution, technological policy, the fiscal system, the investment system, energy policy, foreign trade, and the regional economy. Contributors are mainly economists. Nolan is at Jesus College, University of Cambridge. Dong is at Peking University and the Institute of Economic Research. Index.