Mini-Series: Lessons from Economic Transitions<br />[In this three-part arc of #WooSays we revisit some of the most consequential economic transformations of the 20th century: Poland, Russia, and China, to understand what went right, what went wrong, and what we can still learn today about the shift from central planning to market economies.]<br /><br />How did China achieve explosive economic growth without collapsing like other post-Communist economies? In the final episode of our #WooSays trilogy on economic transitions, Professor Emeritus Datuk Woo Wing Thye and Melisa Idris explore China’s unique, gradualist approach to market reform, in a stark contrast to Poland’s shock therapy or Russia’s failed big bang. What made China’s path so different and so successful?<br />
