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China's rise is altering global power relations, reshaping economic debates, and commanding tremendous public attention. Despite extensive media and academic scrutiny, the conventional wisdom about China's economy is often wrong. Cracking the China Conundrum provides a holistic and contrarian view of China's major economic, political, and foreign policy issues. Yukon Huang trenchantly addresses widely accepted yet misguided views in the analysis of China's economy. He examines arguments about the causes and effects of China's possible debt and property market bubbles, trade and investment relations with the Western world, the links between corruption and political liberalization in a growing economy and Beijing's more assertive foreign policies. Huang explains that such misconceptions arise in part because China's economic system is unprecedented in many ways-namely because it's driven by both the market and state- which complicates the task of designing accurate and adaptable analysis and research. Further, China's size, regional diversity, and uniquely decentralized administrative system poses difficulties for making generalizations and comparisons from micro to macro levels when trying to interpret China's economic state accurately. This book not only interprets the ideologies that experts continue building misguided theories upon, but also examines the contributing factors to this puzzle. Cracking the China Conundrum provides an enlightening and corrective viewpoint on several major economic and political foreign policy concerns currently shaping China's economic environment.
A gripping, insightful and accessible book which examines the long history of relationships between China and the West, as well as the change in attitudes on both sides of the divide.
The South China Sea (SCS) has been in the spotlight since the Permanent Court of Arbitration's ruling in 2016, favouring the Philippines on its maritime entitlements. China rejected the verdict and militarized the islands while asserting its 'historic rights' over more than 80% of the SCS. This book examines China's behaviour in the SCS from multiple perspectives like history, environment, law, trade, security, and its relations with Southeast Asian countries that have their own EEZ claims in the SCS, revealing that their actions align with their grand strategy of becoming a global and maritime superpower by 2050 with the Nine Dash Line at its centre. Print edition not for sale in South Asia (India, Sri Lanka, Nepal, Bangladesh, Pakistan and Bhutan)
North Korea is consistently identified as one of the world’s worst human rights abusers. However, the issue of human rights in North Korea is a complex one, intertwined with issues like life in the North Korean police state, inter-Korean relations, denuclearization, access to information in the North, and international cooperation, to name a few. There are likewise multiple actors involved, including the two Korean governments, the United States, the United Nations, South Korea NGOs, and global human rights organizations. While North Korea’s nuclear weapons and the security threat it poses have occupied the center stage and eclipsed other issues in recent years, human rights remain important to U.S. policy. The contributors to The North Korean Conundrum explore how dealing with the issue of human rights is shaped and affected by the political issues with which it is so entwined. Sections discuss the role of the United Nations; how North Koreans’ limited access to information is part of the problem, and how this is changing; the relationship between human rights and denuclearization; and North Korean human rights in comparative perspective.
China's economic growth has been revolutionary, and is the foundation of its increasingly prominent role in world affairs. It is the 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. Multinational companies make billions of dollars in profits in China each year, while traders around the world shudder at every gyration of the country's unruly stock markets. Perhaps paradoxically, its capitalist economy is governed by an authoritarian Communist Party that shows no sign of loosening its grip. China is frequently in the news, whether because of trade disputes, the challenges of its Belt and Road initiative for global infrastructure, or its increasing military strength. China's political and technological challenges, created by a country whose political system and values differ dramatically from most of the other major world economies, creates uncertainty and even fear. China's Economy: What Everyone Needs to Know® is a concise introduction to the most astonishing economic and political story of the last three decades. Arthur Kroeber enhances our understanding of China's changes and their implications. Among the essential questions he answers are: 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? How do China's changes affect the rest of the world? This thoroughly revised and updated second edition includes a comprehensive discussion of the origins and development of the US-China strategic rivalry, including Trump's trade war and the race for technological supremacy. It also explores the recent changes in China's political system, reflecting Xi Jinping's emergence as the most powerful leader since Mao Zedong. It includes insights on changes in China's financial sector, covering the rise and fall of the shadow banking sector, and China's increasing integration with global financial markets. And it covers China's rapid technological development and the rise of its global Internet champions such as Alibaba and Tencent.
In five richly imaginative novellas and a short story, Zhu Wen depicts the violence, chaos, and dark comedy of China in the post-Mao era. A frank reflection of the seamier side of his nation's increasingly capitalist society, Zhu Wen's fiction offers an audaciously plainspoken account of the often hedonistic individualism that is feverishly taking root. Set against the mundane landscapes of contemporary China-a worn Yangtze River vessel, cheap diners, a failing factory, a for-profit hospital operating by dated socialist norms-Zhu Wen's stories zoom in on the often tragicomic minutiae of everyday life in this fast-changing country. With subjects ranging from provincial mafiosi to nightmarish families and oppressed factory workers, his claustrophobic narratives depict a spiritually bankrupt society, periodically rocked by spasms of uncontrolled violence. For example, I Love Dollars, a story about casual sex in a provincial city whose caustic portrayal of numb disillusionment and cynicism, caused an immediate sensation in the Chinese literary establishment when it was first published. The novella's loose, colloquial voice and sharp focus on the indignity and iniquity of a society trapped between communism and capitalism showcase Zhu Wen's exceptional ability to make literary sense of the bizarre, ideologically confused amalgam that is contemporary China. Julia Lovell's fluent translation deftly reproduces Zhu Wen's wry sense of humor and powerful command of detail and atmosphere. The first book-length publication of Zhu Wen's fiction in English, I Love Dollars and Other Stories of China offers readers access to a trailblazing author and marks a major contribution to Chinese literature in English.
One issue could lead to a disastrous war between the United States and China: Taiwan. A growing number of Taiwanese want independence for their island and regard mainland China as an alien nation. Mainland Chinese consider Taiwan a province that was stolen from China more than a century ago, and their patience about getting it back is wearing thin. Washington officially endorses a "one China" policy but also sells arms to Taiwan and maintains an implicit pledge to defend it from attack. That vague, muddled policy invites miscalculation by Taiwan or China or both. The three parties are on a collision course, and unless something dramatic changes, an armed conflict is virtually inevitable within a decade. Although there is still time to avert a calamity, time is running out. In this book, Carpenter tells the reader what the U.S. must do quickly to avoid being dragged into war.
Why has China grown so fast for so long despite vast corruption? In China's Gilded Age, Yuen Yuen Ang maintains that all corruption is harmful, but not all types of corruption hurt growth. Ang unbundles corruption into four varieties: petty theft, grand theft, speed money, and access money. While the first three types impede growth, access money - elite exchanges of power and profit - cuts both ways: it stimulates investment and growth but produces serious risks for the economy and political system. Since market opening, corruption in China has evolved toward access money. Using a range of data sources, the author explains the evolution of Chinese corruption, how it differs from the West and other developing countries, and how Xi's anti-corruption campaign could affect growth and governance. In this formidable yet accessible book, Ang challenges one-dimensional measures of corruption. By unbundling the problem and adopting a comparative-historical lens, she reveals that the rise of capitalism was not accompanied by the eradication of corruption, but rather by its evolution from thuggery and theft to access money. In doing so, she changes the way we think about corruption and capitalism, not only in China but around the world.
This book provides an in-depth study of China's information technology (IT) industry and policy in the 21st century, and explores the connection between China's financial system and technological development outcomes.
An insightful account of the remarkable transition of the Chinese economy from impoverished backwater to economic powerhouse.