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DragonomicsHow Latin America Is Maximizing (or Missing Out on) China's International Development Strategy$
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Carol Wise

Print publication date: 2020

Print ISBN-13: 9780300224092

Published to Yale Scholarship Online: September 2020

DOI: 10.12987/yale/9780300224092.001.0001

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From State to Market: A Fork in the Reform Road

From State to Market: A Fork in the Reform Road

(p.93) 3 From State to Market: A Fork in the Reform Road

Carol Wise

Yale University Press

This chapter undertakes a cross-regional comparison of the developmental paths of China and the Latin American countries of Argentina, Brazil, Chile, Mexico, and Peru (LAC 5). It traces the economic histories and policies implemented within the LAC-5 from the 1950s until the 1980s before turning to China to do the same from the 1980s onward. The author argues that the contrasting underlying logic between the Washington Consensus and the Beijing Consensus can explain the widely divergent outcomes in the development of Latin America and China.

Keywords:   Import-Substitution Industrialization, Hyperinflation, Washington Consensus, Privatization, Trade liberalization, Deregulation, Beijing Consensus

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