Events

How China Escaped Shock Therapy

Hosted by the Department of International Development

Online public event , China

Speakers

Isabella Weber

Isabella Weber

Assistant Professor of Economics at the University of Massachusetts Amherst

Andrew Fischer

Andrew Fischer

Professor of Inequality, Social Protection and Development at ISS, Erasmus University Rotterdam

Chair

James Putzel

James Putzel

Professor of Development Studies, LSE

Dr Weber will give lecture based on her book, 'How China Escaped Shock Therapy: The Market Reform Debate (2021). Andrew Fischer will act as discussant for the event.

China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its whole- sale 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 col- lapsed 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interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization.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 founda- tions of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.

Isabella Weber is an Assistant Professor of Economics and the Research Leader for China at the Political Economy Research Institute at the University of Massachusetts Amherst. Her first book How China Escaped Shock Therapy: The Market Reform Debate is the winner of the Joan Robinson Prize 2021 and has been recommended by the Financial Times and Foreign Policy among others. For her work on the rise of economics in China’s recent history she has won the International Convention of Asia Scholars’ Ground-breaking Subject Matter Accolade and the Warren Samuels Prize for Interdisciplinary Research in History of Economic Thought and Methodology. Previously she was a Lecturer at Goldsmiths, University of London, and has been the principal investigator of the ESRC-funded Rebuilding Macroeconomics project What Drives Specialization? A Century of Global Export Patterns. Isabella holds a Ph.D. in Economics from the New School for Social Research, New York, and a Ph.D. in Development Studies from the University of Cambridge and was a visiting researcher at Tsinghua University. German born, she studied at the Free University of Berlin and Peking University for her B.A. www.isabellaweber.com

Andrew M. Fischer is Professor of Inequality, Social Protection and Development at the Institute of Social Studies in The Hague, part of Erasmus University Rotterdam. He is also the Scientific Director of CERES, The Dutch Research School for International Development; co-editor of the journal Development and Change; and founding editor of the Oxford University Press book series Critical Frontiers of International Development Studies. His latest book, Poverty as Ideology (Zed, 2018), was awarded the International Studies in Poverty Prize by the Comparative Research Programme on Poverty (CROP) and Zed Books and, as part of the award, is fully open access. Fischer works extensively on poverty, inequality, social policy, all in relation to international development. He earned his Ph.D. in Development Studies from LSE for his research on China’s regional development strategies in western China and their impact on ethnic minorities, principally Tibetans, but also Uyghurs and other minorities. He has written two books on this topic, the second being The Disempowered Development of Tibet in China: A Study in the Economics of Marginalization (Lexington Books, 2014), as well as articles in leading journals such as Population and Development Review and China Quarterly. More generally, Fischer has been involved in the field of international development for over 30 years. Prior to his Ph.D., he spent seven years living with refugees in India, and he lived in Western China for two years during and after his Ph.D. Parallel to his ongoing research on western China, he won a prestigious European Research Council grant for work on the political economy of externally financing social policy in developing countries (Aiding Social Protection), which he led from 2015 to 2021.

James Putzel is Professor of Development Studies and served as the Director of the Crisis States Research Centre. He headed the Centre's research programme on Crisis States, which was funded by the Department for International Development of the UK government. 

This talk is part of the Cutting Edge Issues in Development Thinking & Practice, 2021/22, series, a high-profile lecture series run by the Department of International Development at LSE and organised by Professor James Putzel and Professor in Practice Duncan Green.

The Department of International Development promotes interdisciplinary postgraduate teaching and research on processes of social, political and economic development and change. 

Twitter Hashtag for this series: #CuttingEdge2021

Watch back

We aim to make all of our events available to watch back subject to receiving permission from the speaker/s to do this, and subject to no technical problems with the recording of the event. Recordings from past events can be found on our YouTube Channel.

Social Media

Follow LSE ID on Twitter and LinkedIn for notification on the availabilility of an event podcast, the posting of transcripts and videos, the announcement of new events and other important event updates.

Events will also be live streamed to the LSE ID YouTube Channel.

Subscribe to the LSE ID newsletter for updates on the latest events.

Captions

Automated live captions are available on this webinar. Once you join the Zoom, you will be able to show or hide the subtitles by clicking on the “Live Transcript - CC” button, from where you can also change the font size and choose to view the full transcript. Please note that this feature uses Automatic Speech Recognition (ASR) technology, or machine generated transcription, and is not 100% accurate.

You can also turn on live captions on YouTube by clicking the CC icon at the bottom of a YouTube video. A red line will appear under the icon when closed captions have been enabled. Again, please note these are not 100% accurate.

From time to time there are changes to event details so we strongly recommend that if you plan to attend this online event you check back on this listing on the day of the event.

Whilst we are hosting this listing, LSE Events does not take responsibility for the running and administration of this event. While we take responsible measures to ensure that accurate information is given here this event is ultimately the responsibility of the organisation presenting the event.

This event will be live streamed to YouTube

Twitter

LSE International Development LSE_ID

Luis Eduardo Gutiérrez Rojas @lucho_gutierrez examines the increasing influence of #Russia and #Iran in #Venezuelatwitter.com/i/web/status/1…

19 hours ago

Reply Retweet Favorite

LSE International Development LSE_ID

RT @fp2p: Top Tips on Seminar Presentations and the return to IRL. Today's @fp2p frompoverty.oxfam.org.uk/top-tips-on-se…

20 hours ago

Reply Retweet Favorite

  Sign up for news about events