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How China Escaped Shock Therapy, with Isabella Weber
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Manage episode 304698840 series 1498457
Content provided by Harvard Fairbank Center for Chinese Studies. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Harvard Fairbank Center for Chinese Studies or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Speaker: Isabella Weber, Assistant Professor of Economics, University of Massachusetts Amherst 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interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization.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 durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without. Isabella M. Weber is a political economist working on China, global trade and the history of economic thought. She is an Assistant Professor of Economics and the Research Leader for China of the Asian Political Economy Program at the Political Economy Research Institute at the University of Massachusetts Amherst.
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155 episodes
MP3•Episode home
Manage episode 304698840 series 1498457
Content provided by Harvard Fairbank Center for Chinese Studies. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Harvard Fairbank Center for Chinese Studies or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Speaker: Isabella Weber, Assistant Professor of Economics, University of Massachusetts Amherst 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 durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without. Isabella M. Weber is a political economist working on China, global trade and the history of economic thought. She is an Assistant Professor of Economics and the Research Leader for China of the Asian Political Economy Program at the Political Economy Research Institute at the University of Massachusetts Amherst.
…
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155 episodes
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