The Great Leap Forward (GLF) disaster, characterized by a collapse of grain output, and the associated famine in China … agricultural productivity gains from collectivization, the government switched to an accelerated and infeasible timetable for …

This Paper reviews the controversy over China’s exchange rate regime. Placing the issue in the context of the … literature on exit strategies, it argues that now is the best time for China to exit from its peg. Moving to a managed float …