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🇨🇳 China’s Economy Dodged Neoliberal Shock Therapy — and Boomed
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China’s Economy Dodged Neoliberal Shock Therapy — and Boomed
In the 1980s, as China sought to introduce markets into its economy, an internal debate roiled over whether to liberalize prices gradually or all at once. It rejected the free-market shock therapy option, and challenged neoliberal orthodoxy in the process.