Many thought China's rise would fundamentally remake the global order. Yet, much like other developing nations, the Chinese state now finds itself in a status quo characterized by free trade and American domination. Through a cutting-edge historical, sociological, and political analysis, Ho-fung Hung details the competing interests and economic realities that temper the dream of Chinese supremacy-forces that are stymieing growth throughout the global South.
Hung focuses on four common misconceptions: that China could undermine orthodoxy by offering an alternative model of growth; that China is radically altering power relations between the East and the West; that China is capable of diminishing the global power of the United States; and that the Chinese economy would restore the world's wealth after the 2008 financial crisis. His work reveals how much China depends on the existing order and how the interests of the Chinese elites maintain these ties. Through its perpetuation of the dollar standard and its addiction to U.S. Treasury bonds, China remains bound to the terms of its own prosperity, and its economic practices of exploiting debt bubbles are destined to fail. Hung ultimately warns of a postmiracle China that will grow increasingly assertive in attitude while remaining constrained in capability.
By:
Ho-fung Hung (The Johns Hopkins University)
Imprint: Columbia University Press
Country of Publication: United States
Dimensions:
Height: 229mm,
Width: 152mm,
Spine: 13mm
Weight: 318g
ISBN: 9780231164191
ISBN 10: 023116419X
Series: Contemporary Asia in the World
Pages: 264
Publication Date: 07 March 2017
Audience:
Professional and scholarly
,
Undergraduate
Format: Paperback
Publisher's Status: Active
List of Illustrations and Tables Preface Chronology of State Making and Capitalist Development in China, Sixteenth to Twenty-First Centuries Introduction: Sinomania and Capitalism Part I. Origins 1. A Market Without Capitalism, 1650-1850 2. Primitive Accumulation, 1850-1980 3. The Capitalist Boom, 1980-2008 Part II. Global Effects, Coming Demise 4. Rise of the Rest 5. A Post-American World? 6. Global Crisis Conclusion: After the Boom Notes References Index
Ho-fung Hung is Henry M. and Elizabeth P. Wiesenfeld Associate Professor in Political Economy at Johns Hopkins University. He is the author of the award-winning book Protest with Chinese Characteristics: Demonstrations, Riots, and Petitions in the Mid-Qing Dynasty (Columbia, 2011).
Reviews for The China Boom: Why China Will Not Rule the World
[An] informative study... [The China Boom] paints a convincing picture that China may not be the superpower many predicted it to be. Publishers Weekly This valuable treatise will appeal to both scholars and more casual readers with an interest in China. Library Journal Masterful. Foreign Affairs It is a fast-paced, highly readable, thoroughly provocative, and (rare for an academic book) truly enjoyable account of 400 years of Chinese economic history right up to the present day. Asian Review of Books So many books on China recycle the same stories and historical anecdotes, but this one tells the story from the point of view of economic history. It is scholarly yet readable, interesting throughout. Marginal Revolution The book should be mandatory reading for anyone concerned with transnational economic policy planning. Pacific Affairs
- Commended for Honorable Mention - The Asia and Asian America Section Book Award: Transnational 2016
