How China Escaped Shock Therapy: The Market Reform Debate
Isabella M. Weber
Mar 2023 · Tantor Media Inc · Narrated by Susan Ericksen
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16 hr 12 min
Unabridged
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About this audiobook
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. 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interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization.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.
About the author
Isabella M. Weber is assistant professor of economics at the University of Massachusetts, Amherst.
Susan Ericksen is a three-time Audie Award-winning narrator who has recorded over 500 books. The winner of multiple awards, including twenty-plus AudioFile Earphones Awards for both fiction and nonfiction, Susan is a classically trained actress who excels at multiple narrative styles and accents.
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