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  • 1 E. Morris Cox Professor of Economics and Political Science at the Economic Department at University of California Berkeley, CEPR and NBER
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Since Deng Xiaoping and reformers Hu Yaobang and Zhao Ziyang launched radical market reforms in China, the country became a capitalist economic system with a communist political regime, a regime never observed before in history. We discuss the nature of that regime, how stable it is likely to be over time and what the challenges are for democracies of international coexistence with this new regime in the twenty first century.

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