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In 1980, Thatcher and Reagan both won the election on a platform of lower taxation, smaller government, and breaking the trade unions. Their brand of neoliberalism quickly became highly influential throughout the 1980s. The fall of the Berlin Wall, less than ten years later, was widely seen as an affirmation of free market ideology, which, in the words of Fukuyama, would inevitably lead to democratization. His bestseller The End of History and the Last Man in 1992 was the perfect pretext to put China on the fast track to becoming a member of the World Trade Organization. While many politicians and business leaders at the time saw China as the one-billion-people market, few fathomed that China would prove first and foremost a competitor.
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