[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-40349-en":3,"doc-seo-40349-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},40349,8796095462418,"Noah","https://ap-avatar.wpscdn.com/avatar/80000253c1241d02b47?x-image-process=image/resize,m_fixed,w_180,h_180&k=1778826106357471780",8,"Research & Report","How China Escaped Shock Therapy The Market Reform Debate","Focuses on the 1980s debate in China over how to create markets during economic reform and how that dispute shaped later reform strategies. Traces how post-Mao reformers were divided between using shock therapy to break the socialist core or leveraging planned-economy institutions to create markets. Contrasts China’s sustained expansion and gradual reindustrialization with Russia’s collapse under shock therapy, using interviews and extensive sources, and offers an original view of state-market relations in reform-era China.","One of the most consequential economic debates in China over the direction of reform took place in the 1980s and focused on how markets should be created. The outcome of that debate set the pattern for much of China’s subsequent economic reforms. Isabella Weber, drawing on interviews ofthe participants and others together with many new sources of unpublished and published information, does a masterful job of explaining how this debate evolved and its ultimate impact.  \nDWIGHT H. PERKINS, Harvard University, Director of the Harvard Institute for International Development, 1980–1995  \nThis superb book presents the most compelling interpretation I have read of the sources of Chinese gradualism and its success in fostering economic growth and transformation while preserving enough social cohesion to hold the Chinese society together. It is the product of an independent, inquisitive, open mind—the only type that can hope to grasp the phenomenon that is modern China. It is also the work of a first-rate economist, in the best sense of that term.  \nJAMES K. GALBRAITH, The University of Texas at Austin, former Chief Technical adviser to China’s State Planning Commission for macroeconomic reform  \nIsabella M. Weber’s book gives an excellent historical overview of China’s economic statecraft bringing the reader to the crucial period of market reforms and to the decision to avoid the full implementation of the neoliberal agenda, thus setting the stage for the fastest and longest growth in world history.  \nBRANKO MILANOVIĆ, LSE and CUNY, former Lead Economist, World Bank Research Department  \nIsabella M. Weber succeeds in offering a powerful account of China’s reform-era market creation that is of acute interest to economists and historians alike. Her book is a call to economists to ponder the relevance of political economy with its European roots in classical economics of the early modern era and with Chinese roots in a period almost two millennia earlier.  \nR. BIN WONG, Director of the UCLA Asia Institute and Distinguished Professor of History  \nChina’s debates in the 1980s about reform of the non-market economy are centrally important to understanding global political economy in the 21st century. The resolution of the debates about the ‘Big Bang’ set China on the course of pragmatic system reform (‘groping for stones to cross the river’) that has remained in place ever since. Isabella M. Weber’s study is unique. It uses information not only from a wide array of written documents but also from extensive interviews with participants in the debates. Her remarkable book provides a rich, balanced and scholarly analysis which illuminates the complex reality of this critically important period in modern world history.  \nPETER NOLAN, University of Cambridge, Founding Director of the University’s Centre of Development Studies  \nHOW CHINA ESCAPED SHOCK THERAPY  \nChina 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 struggledover 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 ","cbCaiaPXJJbMC5or","https://ap.wps.com/l/cbCaiaPXJJbMC5or","pdf",9029791,4,1,359,"English","en",105,"# The 1980s Reform-Era Market Debate\n## Marketization Without Neoliberal Assimilation\n## Shock Therapy vs. Planned-Economy Institutions\n## Outcomes: China’s Gradual Reindustrialization and Russia’s Collapse\n## Foundations of State–Market Relations","[{\"question\":\"What central question about reform does the book address?\",\"answer\":\"Whether China should destroy the core of the socialist system through shock therapy or use planned-economy institutions to create markets.\"},{\"question\":\"How does the book compare China’s reform outcome with Russia’s?\",\"answer\":\"China’s debate culminated in a path that enabled gradual reindustrialization and unprecedented growth, while Russia’s economy collapsed under shock therapy.\"},{\"question\":\"What research methods and sources does the book rely on?\",\"answer\":\"It draws on extensive research, including interviews with key Chinese and international participants and World Bank officials, as well as insights from unpublished 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