Openings Before Reform: Socialist China's “Self-Reliant” Trade with the Capitalist West, 1949–1976

Дата публикации: 08-10-2026 00:00:00

How can developing countries simultaneously participate in global markets and maintain economic sovereignty? I address this question by explaining how Maoist China (1949–1976) implemented “self-reliant” trade with the capitalist West, and especially with West Germany. Like other developing countries in the postwar period, Maoist China pursued a form of import-substitution industrialization (ISI). Unlike most other developing countries, however, China’s ISI experience adhered closely to the Maoist slogan of “self-reliance” and did not result in balance-of-payments problems and debt crises in the 1980s. Thus, China entered the decade with no external obligations, an autonomous policy environment for gradualist market reforms, and an industrial base on which to unleash them. Yet Maoist self-reliance is a puzzle for development theory. Lacking a Weberian economic bureaucracy and facing Cold War geopolitical constraints to accessing global markets, Maoist China’s internal and external...

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