alt Hacker NewsI'm pretty sure that China demonstrating that they are a stable country, that they want foreign investment, that they won't gank your investment two weeks after you make it, and that they aren't going to do another Great Leap Forward may have had something to do with why foreign investment in it skyrocketed.
This sort of thing takes time, and by the 00s, enough time (and a recent Hong Kong transfer that did not result in mass liquidation) passed, and foreign investors were gaining confidence.
The world, and especially China has agency of its own, it isn't sorely driven by whatever American policy is it's flavour of the week.
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> a recent Hong Kong transfer that did not result in mass liquidation
No, but there definitely was a much slower gradual repression over a longer period, with a final round of protest repression: https://en.wikipedia.org/wiki/2019%E2%80%932020_Hong_Kong_pr...
> The world, and especially China has agency of its own, it isn't sorely driven by whatever American policy is it's flavour of the week
Amen. A two-pole model is simple and attractive but the rest of the world is also, you know, doing stuff and buying things. America can, for example, preserve its car industry by refusing to allow Chinese EVs, but will gradually discover it has become uncompetitive overseas.
Completely agree Jiang Zemin spent the 1990s courting global capital.
The point is that it wasn't technology it was policy, on the Chinese and American side, that drove the China Shock.
This was also what a lot of anti-globalization people were say at the time. The pro-globalization people were saying not only is it good but it's inevitable. There Is No Alternative.
The anti globalization people were saying if it's inevitable why does it need all these policy changes, trade agreements, and bigwig conferences?