China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale 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 collapsed 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interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization.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 foundations 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.

This multidisciplinary volume, the first of its kind, presents an account of China’s contemporary transformation via one of its most important yet overlooked cities: Shenzhen, located just north of Hong Kong. In recent decades, Shenzhen has transformed from an experimental site for economic reform into a dominant city at the crossroads of the global economy. The first of China’s special economic zones, Shenzhen is today a UNESCO City of Design and the hub of China’s emerging technology industries.
Bringing China studies into dialogue with urban studies, the contributors explore how the post-Mao Chinese appropriation of capitalist logic led to a dramatic remodeling of the Chinese city and collective life in China today. These essays show how urban villages and informal institutions enabled social transformation through cases of public health, labor, architecture, gender, politics, education, and more. Offering scholars and general readers alike an unprecedented look at one of the world’s most dynamic metropolises, this collective history uses the urban case study to explore critical problems and possibilities relevant for modern-day China and beyond.