The paper aims at an analysis of how Chinese intellectuals lost their critical ability on reality in the transitional period from 1980 to 1990 through a comprehensive review on intellectual discussions in 1990s. In 1980s, the movement of thought liberation and cultural discussions started from the dichotomy of feudalism and modermization and transformed the critique of modern history into a self-assertion of contemporary process itself. In 1990s, the dichotomy has been transformed into a new market ideology wich failed to reveal the internal connections between the process of marketization and mainland context. The intellectual discussions in 1990s were limited by the ideological teleology of modernization and failed to develop critical factors of new enlightenment in 1980 on the one hand, lost the ability to criticize the process of globalization and so-called "spontaneous privatization".