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Yingjie Guo

overview and case studies of class and stratification in the PRC, focusing on the post-Mao era. Change is a central thread running through the handbook. Specifically, it addresses the growing interest in fluctuations in the significance of class from the Mao era to the post-Mao era and the transformation of the PRC’s class map, status order, structures of inequality, causal components contributing to life chances, and class experiences. The changes in this regard are part and parcel of China’s transition since 1978 from a command to market economy and from a totalitarian

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Juzhong Zhuang, Paul Vandenberg and Yiping Huang

economies and middle-­income countries in Latin America (Figure 1.3). To some extent, the PRC’s low-­cost advantage also developed out of asymmetric market liberalization. Here, approximately 90 percent of product market prices were fully liberalized, but the government still controlled prices in various factor markets to varying degrees (Huang 2010). For instance, low deposit interest rates combined with high household savings offered banks a steady flow of cheap funds. These savings were intermediated at low interest rates to enterprises, especially state