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From Tiananmen to Shenzhen: Transition to Capitalism

In: China's Rise in the Age of Globalization

Author

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  • Jianyong Yue

    (London School of Economics and Political Science)

Abstract

Deng Xiaoping saved the regime from collapse in the summer of 1989 and played an equally important role in stabilizing it in the critical three years that ensued. He drew three major lessons from Tiananmen: no democracy, no appeasing the people, and appeasing the West. The impact of the Global 1989 and eagerness to make his reform legacy irreversible prompted Deng to embrace (global) capitalism in a more radical way. Underscoring high growth as the source of political legitimacy, Deng opened the door for market Leninist reforms at the expense of social justice. 1992 marked the beginning of the party state’s transformation from a left-wing dictatorship to a right-wing dictatorship.

Suggested Citation

  • Jianyong Yue, 2018. "From Tiananmen to Shenzhen: Transition to Capitalism," Palgrave Studies in Economic History, in: China's Rise in the Age of Globalization, chapter 4, pages 187-207, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-319-63997-0_4
    DOI: 10.1007/978-3-319-63997-0_4
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