How China Avoided a Soviet-Style Collapse

What have three decades of market reforms meant for the world’s largest working class?

Illustration by Daniel Zender

The single most stunning economic story of the last half-century has been the rise of China. Its state-led development has unleashed an explosive economic expansion unprecedented in modern history. But the astonishing growth record is far from a triumph of the free market. In How China Escaped Shock Therapy, Isabella Weber, an economist at the […]

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