Ivan Szelenyi argues that no third way alternatives to capitalist market economy and socialist planned economy are possible, a conclusion he reached after his own searches for such dating back to the 1980s. My comment responds to his two main points, about a “real estate bubble,” and hence the non-sustainability of Chongqing’s third finance, and the historical failures of third ways in Eastern Europe and Russia, and hence the likelihood of the same failure in Chongqing and in China.

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