How China Became Capitalist is a new book by renowned University of Chicago Law School economist and Nobel laureate Ronald Coase and Ning Wang, an assistant professor at Arizona State University's School of Politics and Global Studies. It traces the market transformation China has experienced over the past 35 years and argues that China's market transformation flourished without much help from Beijing—contrary to its leadership's claims—but the free flow of ideas has faltered. Until that changes, China will never reach its full potential.

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