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SUMMARY:China’s Escape from the “Big Bang”: The 1980s Price Reform D
 ebate in Historical Perspective - Isabella Maria Weber\, Lecturer in econo
 mics at Goldsmiths\, University of London.
DTSTART:20171025T130000Z
DTEND:20171025T150000Z
UID:TALK94030@talks.cam.ac.uk
CONTACT:Shuai Eddie WEI
DESCRIPTION:China’s rise and Russia’s fall shape today’s global poli
 tical economy. This new great divergence originates from the different pol
 icies pursued in the transition from a command economy. Russia applied a 
 ‘big-bang’ doctrine with rapid price liberalisation at its core. In co
 ntrast\, a policy of experimentalist gradualism manifested in the dual tra
 ck price system laid the foundations for China’s economic success. But t
 he Chinese reform approach was highly contested in its first decade\, the 
 1980s\, and China came close to implementing a big bang. My talk sheds lig
 ht on this critical crossroads. The economic logic underlying the alternat
 ive pathways considered at the time will be evaluated and analyzed how Chi
 na ultimately came to escape a ‘big bang’ in price reform.\n
LOCATION:Room S2\, Alison Richard Building\, Sidgwick Site\, 7 West Road\,
  CB3 9DT
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