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Odd Arne Westad on how China First Joined the Global Capitalist Economy
Nov 21, 2024
Odd Arne Westad, a Yale history professor and co-author of 'The Great Transformation: China’s Road from Revolution to Reform,' dives into China's remarkable shift to a capitalist economy. He discusses pivotal reforms under Deng Xiaoping and the impact of the Cultural Revolution. The conversation reveals the intricate relationship between economic changes and political stability. Westad also highlights the individual stories of resilience during this transformation and critiques common misconceptions about China's opening up to global markets.
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Quick takeaways
- China's economic rise was significantly influenced by historical events, notably Deng Xiaoping's reforms and its WTO accession.
- The shift towards a market-driven economy in China, while fostering growth, also dismantled social safety nets, leading to social challenges.
Deep dives
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