This book investigates the fundamental structural transformations and subsequent crises within Communist China's economy during the pivotal period of 1949 to 1962. The author, Chu-Yuan Cheng, draws upon extensive research to analyze the economic policies implemented by the Chinese Communist Party following its rise to power. It examines the challenges faced in rebuilding a war-torn nation, the imposition of socialist economic models, and the eventual emergence of severe economic downturns and famines.

The book is recognized as a detailed academic study of a critical period in Chinese economic history. It is often cited for its thorough analysis of the structural changes and the severe crises that characterized Communist China's economy between 1949 and 1962. The work provides a comprehensive overview of the policies, their implementation, and their often devastating outcomes, making it a valuable resource for scholars and students of Chinese history and economics. Its focus on both the systemic shifts and the human cost offers a balanced perspective on this tumultuous era.