Editors' Introduction

The nine selections translated here cover several crucial issues in the debate on China's microeconomic reform in 1985-86. Regrettably, space considerations allow only a small portion of such material to be carried here. We focus on the debates on the bankruptcy law (selections 1 and 2), on sharing enterprises (selections 3 and 4), on the assets management responsibility system (selections 5 and 6), on ownership reform (selection 7), and on entrepreneurs' advantages (selection 8). Some selectionsâe.g., 1, 4, and 7âare short articles published in newspapers, even though longer ones by the same authors on the same topics have appeared in academic journals. Most articles were written by the so-called young economists, who frequently conduct lengthy forums on controversial issues. Their approach to microeconomic reform has usually been inspired by the arguments presented at internal conferences, as can be seen in selections 1, 5, 7, and 8. Initial drafts of their proposals appear in internally circulated reports, such as selections 3,4,5, and 8. These are followed by longer theoretical articles published in various academic journals. The most controversial articles are summarized in widely circulated newspapers. Except for selections 2 and 9, all the articles here are from >i>China: Development and Reform>/i> (1984-85 and 1986 issues), yearbooks which collect the most important articles published in those years.