You have unrestricted access to this book since it is open access. places China's 70-year modern history in context against a single, unified background Written by one of the top researchers on Chinese agrarian issues stresses the importance of the rural sector. Authors: Wen Tiejun Publisher: Springer Ten Crises Download Ten Crises It introduces the theoretical framework which is based on Immanuel Wallerstein’s world system theory and Samir Amin’s dependence theory, as well as the theory of cost transfer. It argues that throughout China’s history of industrialization and financialization that as a rule whenever the cost of crisis could be transferred to the rural sector, the capital-intensive urban industry sector could achieve a “soft-landing” and the existing institution could be maintained. When the cost of the crisis was not transferable to the rural sector, it manifested as a “hard-landing” in the urban sector, giving rise to major reforms in the economic system. China’s exper...