How China Escaped Shock Therapy


The Institute or New Economic Thinking has the podcast and transcript How China Escaped Shock Therapy.

Isabella Weber, assistant professor of economics at UMass Amherst, discusses her new book on how China managed its transition from central planning to markets

This answers a lot of questions that I have had about China even though I have been reading commentaries from people who have been economic consultants to China. I am only now getting a picture of how the Chinese Cultural Revolution of the 1970s played into China’s situation today. I was always mystified as to how they went from the 1970s to now.

This ends up being an explanation of my “What Worksism” policy.

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