It's often negatively associated with Ronald Reagan and Margaret Thatcher but if you squint your eyes you will notice it's the economic principles followed by every North American and Western European country since the end of the 19th century.

Since the 1990s the term has been consistently used in academia to imply the move from welfare state to laissez faire economic management, particularly associated with the promotion of free market ideals in the late 1980s by Margaret Thatcher in the UK and Ronald Reagan in the US.

https://simple.m.wikipedia.org/wiki/Neoliberalism

Unfortunately, this article does a 5th grade book report job of smooshing together keywords.

In terms of how China accepts or rejects "neoliberalism", the term basically means free trade and lightly regulated public markets.

Imagine back to the Comintern. It's that, without the feigned aversion to capital.

More specifically though, it's globalization based on western (mostly US-centric) values.

Have you tried wikipedia?

https://en.wikipedia.org/wiki/Neoliberalism

> Neoliberalism (also neo-liberalism) is a term used to signify the late 20th century political reappearance of 19th-century ideas associated with free-market capitalism after it fell into decline following the Second World War.

I personally still don’t understand what liberalism really means here. But neo means new

It's global liberalism, selling natural monopolies to private entities and letting monopolies/oligopolies squeeze the market and use their position to capture other market.