How China Escaped the Poverty Trap

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The book explores China's rapid transformation from a poor planned economy to the world's second-largest economy within three decades. Yuen Yuen Ang presents a new framework for understanding development, arguing that it is a coevolutionary process where markets and governments adapt to each other. By challenging traditional views that prioritize either strong institutions or market growth, Ang highlights the dynamic interplay between entrepreneurial bureaucrats and market forces that facilitated China's remarkable economic progress.