How China Escaped Shock Therapy: The Market Reform Debate

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 cr...