Praised as "a miracle of readability and scholarly authority," (Jonathan Mirsky) The Search for Modern China offers a matchless introduction to China's history.

    While stories of newly built but empty cities, white elephant state projects, and a byzantine shadow banking system, have all become a regular fixture in the press in recent years, McMahon goes beyond the headlines to explain how such waste has been allowed to flourish, and why one of the most powerful governments in the world has been at a loss to stop it.Through the stories of ordinary Chinese citizens, McMahon tries to make sense of the unique--and often bizarre--mechanics of the Chinese economy, whether it be the state's addiction to appropriating land from poor farmers; or why a Chinese entrepreneur decided it was cheaper to move his yarn factory to South Carolina; or why ambitious Chinese mayors build ghost cities; or why the Chinese bureaucracy was able to stare down Beijing's attempts to break up the state's pointless monopoly over the distribution of table salt.Debt, entrenched vested interests, a frenzy of speculation, and an aging population are all pushing China toward an economic reckoning. China's Great Wall of Debt unravels an incredibly complex and opaque economy, one whose fortunes--for better or worse--will shape the globe like never before.

    Perhaps most surprisingly, Pomeranz demonstrates that the Chinese and Japanese cores were no worse off ecologically than Western Europe. Core areas throughout the eighteenth-century Old World faced comparable local shortages of land-intensive products, shortages that were only partly resolved by trade.Pomeranz argues that Europe's nineteenth-century divergence from the Old World owes much to the fortunate location of coal, which substituted for timber. This made Europe's failure to use its land intensively much less of a problem, while allowing growth in energy-intensive industries. Another crucial difference that he notes has to do with trade. Fortuitous global conjunctures made the Americas a greater source of needed primary products for Europe than any Asian periphery. This allowed Northwest Europe to grow dramatically in population, specialize further in manufactures, and remove labor from the land, using increased imports rather than maximizing yields. Together, coal and the New World allowed Europe to grow along resource-intensive, labor-saving paths.Meanwhile, Asia hit a cul-de-sac. Although the East Asian hinterlands boomed after 1750, both in population and in manufacturing, this growth prevented these peripheral regions from exporting vital resources to the cloth-producing Yangzi Delta. As a result, growth in the core of East Asia's economy essentially stopped, and what growth did exist was forced along labor-intensive, resource-saving paths--paths Europe could have been forced down, too, had it not been for favorable resource stocks from underground and overseas.

    This is not in dispute. By exactly what mechanism has China managed to grow so fast? There is more room for debate on this question. A widespread view is that private entrepreneurship, financial liberation, and political reforms played a minor role in explaining China's economic takeoff. Based on archival research and survey data, this book offers an alternative view: Private entrepreneurship, facilitated by access to capital and microeconomic flexibility, was at the center of China's takeoff in the 1980s. The political system, then as now, was authoritarian, but it was moving in a liberal direction. China lacked well-specified property rights, but it substantially improved security of proprietors. But given this initial success, how then to explain the substantial distortions in Chinese economy today? The key to getting the China story right is to recognize the existence of two Chinas - an entrepreneurial rural China and a state-controlled urban China. In the 1980s, rural China gained the upper hand, and the result was rapid as well as broad-based growth. In the 1990s, urban China triumphed when the Chinese state reversed many of the productive rural experiments of the previous decade. While this reversal does not show up in the GDP numbers, it shows up in the welfare implications of growth. Since the early 1990s, household income has lagged behind economic growth and the labor share of GDP has fallen. Social performance has deteriorated. The directional liberalism of China in the 1980s and the emerging India miracle today debunk the widespread notion that democracy is automatically anti-growth. As the country marks its 30th anniversary of reforms in 2008, China faces some of its toughest economic challenges and vulnerabilities. The long overdue political reforms are required to improve governance and accountability and to put China on a sustainable path of development.Professor Yasheng Huang teaches political economy international management at the Sloan School of Management, Massachusetts Institute of Technology. He previously held faculty positions at the University of Michigan and at the Harvard Business School and as a consultant at the World Bank. He has published Inflation and Investment Controls in China (1996), FDI in China (1998), and Selling China (2003; Chinese version in 2005). His work on FDI in China has been featured in the Wall Street Journal, the Economist, Bloomberg, Businessworld, Le Monde, Economic and Political Weekly, and Economic Times, as well as in Chinese publications such as Nanfang Zhoumo, Nanfang Dushibao, Economic Observer, Global Entrepreneur, China Entrepreneur, Fortune Weekly, 21st Century Business Herald, Liangwang, and Xinhuanet. In addition to academic journal articles, he has written for Financial Times, Foreign Policy, and New York Times. In collaboration with other scholars, Professor Huang is conducting research on education and human capital in China and India, and non-performing loans, privatization, and entrepreneurship in China. At MIT, Professor Huang runs a "China Lab" and an "India Lab" that help entrepreneurial businesses in China and in India improve their management."Yasheng Huang is an insightful scholar of China's political economy. In this important book, he shows how China's rural economy took off in the 1980s, led by 'township and village enterprises' that were essentially private, only to be ignored in the 1990s by state-led development that focused on urban regions such as Shanghai. The 'Shanghai miracle,' he argues - and as any businessman who has worked there knows - was not the simple triumph of capitalism but of a stronger and more intrusive (and effective) state. If one wants to understand the policy origins of China's growing divide between rich and poor, urban and rural, one need look no further than this book." - William Kirby, Harvard University"Sure to generate a lively debate, Professor Huang's study provides a provocative and well-researched challenge to much current thinking on China's economic development. The widely shared gains of the 1980s have not been matched in more recent years. Danger signs include the stagnation in household incomes, growing inequality and illiteracy, and heightened governance problems. Huang argues that China will not be able to continue to grow unless the benefits of growth are widely shared through fundamental political and legal reforms." - Susan Rose-Ackerman, Yale Law School

    Drawing on historical records as well as his conversations with Chinese leaders over the past forty years, Kissinger examines how China has approached diplomacy, strategy, and negotiation throughout its history, and reflects on the consequences for the global balance of power in the 21st century. Since no other country can claim a more powerful link to its ancient past and classical principles, any attempt to understand China's future world role must begin with an appreciation of its long history. For centuries, China rarely encountered other societies of comparable size and sophistication; it was the "Middle Kingdom," treating the peoples on its periphery as vassal states. At the same time, Chinese statesmen-facing threats of invasion from without, and the contests of competing factions within-developed a canon of strategic thought that prized the virtues of subtlety, patience, and indirection over feats of martial prowess. In On China, Kissinger examines key episodes in Chinese foreign policy from the classical era to the present day, with a particular emphasis on the decades since the rise of Mao Zedong. He illuminates the inner workings of Chinese diplomacy during such pivotal events as the initial encounters between China and modern European powers, the formation and breakdown of the Sino-Soviet alliance, the Korean War, Richard Nixon's historic trip to Beijing, and three crises in the Taiwan Straits. Drawing on his extensive personal experience with four generation of Chinese leaders, he brings to life towering figures such as Mao, Zhou Enlai, and Deng Xiaoping, revealing how their different visions have shaped China's modern destiny. With his singular vantage on U.S.-China relations, Kissinger traces the evolution of this fraught but crucial relationship over the past 60 years, following its dramatic course from estrangement to strategic partnership to economic interdependence, and toward an uncertain future. With a final chapter on the emerging superpower's 21st-century world role, On China provides an intimate historical perspective on Chinese foreign affairs from one of the premier statesmen of the 20th century.

    government's leading China experts reveals the hidden strategy fueling that country's rise – and how Americans have been seduced into helping China overtake us as the world's leading superpower.For more than forty years, the United States has played an indispensable role helping the Chinese government build a booming economy, develop its scientific and military capabilities, and take its place on the world stage, in the belief that China's rise will bring us cooperation, diplomacy, and free trade. But what if the "China Dream" is to replace us, just as America replaced the British Empire, without firing a shot?Based on interviews with Chinese defectors and newly declassified, previously undisclosed national security documents, The Hundred-Year Marathon reveals China's secret strategy to supplant the United States as the world's dominant power, and to do so by 2049, the one-hundredth anniversary of the founding of the People's Republic. Michael Pillsbury, a fluent Mandarin speaker who has served in senior national security positions in the U.S. government since the days of Richard Nixon and Henry Kissinger, draws on his decades of contact with the "hawks" in China's military and intelligence agencies and translates their documents, speeches, and books to show how the teachings of traditional Chinese statecraft underpin their actions. He offers an inside look at how the Chinese really view America and its leaders – as barbarians who will be the architects of their own demise.Pillsbury also explains how the U.S. government has helped – sometimes unwittingly and sometimes deliberately – to make this "China Dream" come true, and he calls for the United States to implement a new, more competitive strategy toward China as it really is, and not as we might wish it to be. The Hundred-Year Marathon is a wake-up call as we face the greatest national security challenge of the twenty-first century.

    Then as now, many people considered globalization to be inevitable and irreversible. Yet the entire edifice collapsed in a few months in 1914.Globalization is a choice, not a fact. It is a result of policy decisions and the politics that shape them. Jeffry A. Frieden's insightful history explores the golden age of globalization during the early years of the century, its swift collapse in the crises of 1914-45, the divisions of the Cold War world, and the turn again toward global integration at the end of the century. His history is full of character and event, as entertaining as it is enlightening.

    It remains a masterwork without parallel. The distinguished historian Merle Goldman brings the book up to date, covering reforms in the post-Mao period through the early years of the twenty-first century, including the leadership of Hu Jintao. She also provides an epilogue discussing the changes in contemporary China that will shape the nation in the years to come.

    Instead of a stable series of policies producing steady growth, China's financial sector has boomed and gone bust with regularity in each decade. The latest decade is little different. Chinese banks have become objects of political struggle while they totter under balance sheets bloated by the excessive state-directed lending and bond issuance of 2009. Looking forward, the government's response to the global financial crisis has created a banking system the stability of which can be maintained only behind the walls of a non-convertible currency, a myriad of off-balance sheet arrangements with non-public state entities and the strong support of its best borrowers--the politically potent National Champions--who are the greatest beneficiaries of the financial status quo.China's financial system is not a model for the west and, indeed, is not a sustainable arrangement for China itself as it seeks increasingly to assert its influence internationally. This is not a story of impending collapse, but of frustrated reforms that suggests that any full opening and meaningful reform of the financial sector is not, indeed cannot be, on the government's agenda anytime soon.

    Easternization is the defining trend of our age the growing wealth of Asian nations is transforming the international balance of power. This shift to the East is shaping the lives of people all over the world, the fate of nations, and the great questions of war and peace. A troubled but rising China is now challenging America s supremacy, and the ambitions of other Asian powers including Japan, North Korea, India, and Pakistan have the potential to shake the whole world. Meanwhile the West is struggling with economic malaise and political populism, the Arab world is in turmoil, and Russia longs to reclaim its status as a great power. As it becomes clear that the West s historic power and influence is receding, Gideon Rachman offers a road map to the turbulent process that will define the international politics of the twenty-first century."

    What we don't see is how both powerful and ordinary people are remaking their lives as their country dramatically changes. As the Beijing correspondent for The New Yorker, Evan Osnos was on the ground in China for years, witness to profound political, economic, and cultural upheaval. In Age of Ambition, he describes the greatest collision taking place in that country: the clash between the rise of the individual and the Communist Party's struggle to retain control. He asks probing questions: Why does a government with more success lifting people from poverty than any civilization in history choose to put strict restraints on freedom of expression? Why do millions of young Chinese professionals-fluent in English and devoted to Western pop culture-consider themselves "angry youth," dedicated to resisting the West's influence? How are Chinese from all strata finding meaning after two decades of the relentless pursuit of wealth? Writing with great narrative verve and a keen sense of irony, Osnos follows the moving stories of everyday people and reveals life in the new China to be a battleground between aspiration and authoritarianism, in which only one can prevail.

    In the 1980s China was an impoverished backwater, struggling to escape the political turmoil and economic mismanagement of the Mao era. Today it isthe world's second biggest economy, the largest manufacturing and trading nation, the consumer of half the world's steel and coal, the biggest source of international tourists, and one of the most influential investors in developing countries from southeast Asia to Africa to Latin America.China's growth has lifted 700 million people out of poverty. It has also created a monumental environmental mess, with smog-blanketed cities and carbon emissions that are a leading cause of climate change. Multinational companies make billions of dollars in profits in China each year, but tradersaround the world shudder at every gyration of the country's unruly stock markets. Most surprising of all, its capitalist economy is governed by an authoritarian Communist Party that shows no sign of loosening its grip.How did China grow so fast for so long? Can it keep growing and still solve its problems of environmental damage, fast-rising debt and rampant corruption? How long can its vibrant economy co-exist with the repressive one-party state? What do China's changes mean for the rest of the world? China'sEconomy: What Everyone Needs to Know(R) answers these questions in straightforward language that you don't need to be an economist to understand, but with a wealth of detail drawn from academic research, interviews with dozens of company executives and policy makers, and a quarter-century of personalexperience. Whether you're doing business in China, negotiating with its government officials, or a student trying to navigate the complexities of this fascinating and diverse country, this is the one book that will tell you everything you need to know about how China works, where it came from andwhere it's going.

    An enormous population migration from rural to urban areas and from the interior to the coast that is becoming one of the most massive movements of people in human history, and its significant impact on the environment The unprecedented integration into the international economic system as China has joined virtually every major multilateral regime The reactions of the top and the bottom of the political system to these recent developments and the continuing struggles between the government's large bureaucratic structures and sporadic popular political movements.

    In addition to new information provided throughout this classic study, the new Part Six, "Deng Xiaoping and the Origins of Chinese Capitalism: 1976-1998," analyzes the country's uneasy relationships with democracy, socialism, and capitalism. Meisner incisively displays the contrasts between China's speech and actions regarding these subjects. Retaining the elegance, lucidity, fairness, insightfulness, and comprehensiveness he is known for, Meisner moves far beyond his previous work to paint a never-before-seen portrait of the political and social realities of China on the brink of the millennium, and the global implications of its rise to economic and political power.

    An urban landscape littered with ghost towns of empty property. Industrial zones stalked by zombie firms. Trade tariffs blocking the path to global markets.And yet, against the odds and against expectations, growth continues, wealth rises, international influence expands. The coming collapse of China is always coming, never arriving.Thomas Orlik, a veteran of more than a decade in Beijing, turns the spotlight on China's fragile fundamentals, and resources for resilience. Drawing on discussions with Communist cadres, shadow bankers, and migrant workers, Orlik pieces together a unique perspective on China's past, present, and possible futures.From Deng Xiaoping's reform and opening to Donald Trump's trade war, Orlik traces the policy steps and missteps that have taken China to the brink of a "Lehman moment" credit crisis. Delving into the balance sheets for banks, corporates, and local governments, he plumbs the depths of financial risks. From Japan in 1989, to Korea in 1997, to the U.S. in 2007, he positions China in the context of a rolling series of global crisis.Mapping possible scenarios, Orlik games out what will happens if the bubble that never pops finally does. The magnitude of the shock to China and the world would be tremendous. For those in the West nervously watching China's rise as a geopolitical challenger, the alternative could be even less palatable.