How China Got Rich
1:15:00
How China Got Rich
Mar 9, 2022
Pluto TV
The economic rise of China is usually painted as a simple story: it was poor, it implemented "the free market," and now it's rich. But that picture is a simplistic one – and it's not accurate. China's rise is a reflection of its NOT implementing the ideological dictates of "shock therapy," but in its pursuing a state-led policy of industrialization. Russia's decline can be attributed largely to Western economists steering it in the exact opposite direction in the 1990s. Isabella Weber, professor
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At the beginning of China's reform and opening-up, Minnesota native Steve Chapman made his way to China, gave himself a Chinese name – Cao Si De – and worked his way up to become the Group Vice President for China and Russia at American engine-making giant Cummins. The company invested in China during the early years of reform and opening-up. Today, Cummins works with numerous Chinese automakers either through joint ventures or wholly-owned production factories, becoming an integral part of the
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