Sunday, August 29, 2021

Paths Not Taken — Joel Andreas

Review of Isabella Weber, How China Escaped Shock Therapy: The Market Reform Debate, Routledge: Abingdon 2021.

Under Xi, China is further retrenching in favor of more moderate economic growth with distributed prosperity rather than pursuing maximization "rationally," where "rational" means in the Western theoretical mode.

Isabella Weber gives the historical precedent and comparison with shock therapy in Russia. It appears that China is taking a more pragmatic approach to transitioning into the contemporary global economy dominated by neoliberalism.

New Left Review
Paths Not Taken
Joel Andreas

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