Abstract
China's 30 years of reform are often presented as a seamless progression towards greater liberalization and opening up. This review article of Yasheng Huang's Capitalism with Chinese characteristics shows how the author makes a compelling argument about how radically China's economic reforms changed from before and after the Tiananmen Square incident in June 1989. The 1980s saw the pro-rural, largely equitable, and generally liberal economic policies, with a private sector able to find sources of capital from family or relationship networks, and the creation of a very flexible and largely unplanned town and village enterprise system across China. From the 1990s, however, China has been dominated by pro-urban, less equitable and much more heavily state-led economic policies. Shanghai exemplifies this, with a highly circumscribed non-state sector, stagnation of per capita GDP growth in favour of company growth, and the Pudong development area largely based on land grab, and disrespect for the private property rights of the former tenant farmers based there. China grapples with the legacy of this policy change in 1989 to this day, with an increasingly disenfranchised and impoverished rural population, and cities that are both unsustainable, but irrevocable.
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