Martin Wolf selects Isabella Weber's book "How China Escaped Shock Therapy: The Market Reform Debate" as one of his best mid-year reads

Martin Wolf associate editor and chief economics commentator at the Financial Times selects UMass Economics professor Isabella Weber's book "How China Escaped Shock Therapy: The Market Reform Debate" as one of his best mid-year reads. He wrote, China’s advance has been the transformative economic story of the past four decades. But why did China adopt its incremental strategy of “reform and opening up”? The German-born Weber, now at Amherst, provides a well-researched answer: the Chinese state “uses the market as a tool in the pursuit of its larger development goals”. Above all, by eschewing “shock therapy”, it sought to protect “the economy’s commanding heights” from destabilizing change.  Get more information about the book on her website, www.isabellaweber.com.