Latin American left needs to study China’s ‘revolution in production’
The following article, by John Ross, on the lessons of China’s ‘revolution in production’ for the Latin American left, previously appeared on Socialist Economic Bulletin.
In the later part of the 20th century Latin America suffered an economic catastrophe from neo-liberal policies. Until 1993 average per capita GDP in developing Latin American economies remained below 1981 levels. By 1998 annual average per capita GDP growth was still only 0.9% – taking a five-year average to remove cyclical fluctuations.