Isabella M. Weber, "How China Escaped Shock Therapy: The Market Reform Debate" (Routledge, 2021)

episode

New Books in Intellectual History not yet transcribed

▲ 0

Transcript

This episode hasn't been transcribed yet Upvotes decide what gets transcribed next — 0 so far. Sign in to upvote

More from New Books in Intellectual History

Leonhard Emmerling, "The Idiots: The History of the Homo Nullus" (Seagull Books, 2026) 54 min · 09 Sep 2026

Kwame Nkrumah and Pan-Africanism’s High Tide: A Conversation with Howard W. French 48 min · 20 Dec 2025

All episodes from New Books in Intellectual History →

Report any issue

Source

Recorded17 Aug 2025

Publisherfeeds.megaphone.fm

Handlerec:5049777

Show notes

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interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, How China Escaped Shock Therapy: The Market Reform Debate (Routledge, 2021) charts the debate that ultimately enabled China to follow a path to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. 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 at the University of Massachusetts Amherst and the Research Leader for China at the Political Economy Research Institute. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new Master's program in Applied Economics focused on the digital economy. His own research focuses on China’s political economy and governance. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/intellectual-history

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.