From 1949 to 1978, communist elites held clashing visions of China's economic development. Mao Zedong advocated the "first way" of semi-autarchy characteristic of revolutionary Stalinism (1929-34), while Zhou Enlai adapted bureaucratic Stalinism (1934-53) to promote the "second way" of import substitution industrialization. A Third Way tells the story of Deng Xiaoping's experimentation with export-led development inspired by Lenin's New...