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Text File  |  1992-09-03  |  479b  |  13 lines
  1. The change in the economic policy of the
  2. People's Republic of China introduced by Mao
  3. Zedong under the second 5-year plan of 1958-
  4. 62. The aim was to convert China into an
  5. industrially based economy by transferring
  6. resources away from agriculture. This
  7. coincided with the creation of people's
  8. communes. The inefficient and poorly planned
  9. allocation of state resources led to the
  10. collapse of the strategy by 1960 and a return
  11. to more adequate support for agricultural
  12. production.
  13.