Depends on what you mean by important. I'm sure that not being sanctioned and being allowed to sort of trade with the rest of the world was a huge step in the beginning, and eventually paved the way for Deng's reforms that attracted foreign capital.
However I think in the grand scheme of things, China being admitted into the WTO was probably the single most important driver of their growth, as it allowed them to essentially undercut most of the western production apparatus, and made the west pay for China's industrialization.
Depends on what you mean by important. I'm sure that not being sanctioned and being allowed to sort of trade with the rest of the world was a huge step in the beginning, and eventually paved the way for Deng's reforms that attracted foreign capital.
However I think in the grand scheme of things, China being admitted into the WTO was probably the single most important driver of their growth, as it allowed them to essentially undercut most of the western production apparatus, and made the west pay for China's industrialization.