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How China Escaped Shock Therapy - The Market Reform Debate (Hardcover)
Loot Price: R4,577
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How China Escaped Shock Therapy - The Market Reform Debate (Hardcover)
Series: Routledge Studies on the Chinese Economy
Expected to ship within 12 - 17 working days
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China has become deeply integrated into the world economy. Yet,
gradual marketization has facilitated the country's rise without
leading to its wholesale assimilation to global neoliberalism. This
book uncovers the fierce contest about economic reforms that shaped
China's path. In the first post-Mao decade, China's reformers were
sharply divided. They agreed that China had to reform its economic
system and move toward more marketization-but struggled over how to
go about it. Should China destroy the core of the socialist system
through shock therapy, or should it use the institutions of the
planned economy as market creators? With hindsight, the historical
record proves the high stakes behind the question: China embarked
on an economic expansion commonly described as unprecedented in
scope and pace, whereas Russia's economy collapsed under shock
therapy. Based on extensive research, including interviews with key
Chinese and international participants and World Bank officials as
well as insights gleaned from unpublished documents, the book
charts the debate that ultimately enabled China to follow a path to
gradual reindustrialization. Beyond shedding light on the
crossroads of the 1980s, it reveals the intellectual foundations of
state-market relations in reform-era China through a longue duree
lens. Overall, the book delivers an original perspective on China's
economic model and its continuing contestations from within and
from without.
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