China's Grain Trade Policy and Its Domestic Grain Economy
نویسنده
چکیده
The paper examines the relationship between China's grain trade and domestic grain economy through an institutional perspective. It reveals that China's grain imports have been primarily necessitated by filling the physical gap between domestic grain demand and supply. Due to the special institutional background under which the domestic grain economy segmented into two relatively independent parts, the state grain sector tends to have a greater weight in influencing grain import decisions. Since China's grain trade system is so deeply rooted in the old institutional framework, it would inevitably face serious challenges in a changing economic environment that China is currently undergoing. On the one hand, the desirability of traditional principle of self sufficiency in grain has been questioned in comparison with the alternative principle of comparative advantage. On the other hand, the current annual planning procedure for grain trade regime needs to be reformed with a view to improving the flexibility of grain trade to accommodate
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