The Political Economy of China

Hongying Wang

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English

Polity Press
18 September 2025

History; Political economy

China’s economic rise over the last four decades has been as confounding as it has been impressive. Few economies have grown as fast and changed the lives of so many people in such a short time. How is it that a nominally Communist state has been able to achieve this “economic miracle”? And what are the consequences of this rapid transformation into a global economic powerhouse both inside China and abroad?

The Political Economy of China is a lively and comprehensive introduction to China’s economic development in the contemporary era. Across its twelve thematic chapters, the book offers a multifaceted examination of the history, sectors and policies that are essential for understanding China’s growth experience. Chapter topics include the evolution of the state and private sectors; rural economic development; the labour market; social welfare in China, the environment; macroeconomic management and finance; foreign trade and direct investment; and China’s “going out” strategy of overseas investment, that includes the Belt and Road Initiative.

Written by a respected authority on the subject with more than a decade of experience teaching it to students, the book will serve as a vital resource for anyone new to the study of Chinese political economy or seeking a deeper understanding of the political and economic logic behind the headlines about the miracle and mirage of China’s rise.

By: Hongying Wang
Imprint: Polity Press
Country of Publication: United Kingdom
Dimensions: Height: 244mm, Width: 170mm, Spine: 31mm
Weight: 612g
ISBN: 9781509536818
ISBN 10: 1509536817
Pages: 356
Publication Date: 18 September 2025
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Hongying Wang is Associate Professor of Political Science at the University of Waterloo and Senior Fellow at the Centre for International Governance Innovation (CIGI).

Reviews for The Political Economy of China

“A fresh and sweeping tour de force on the political history and political economy of the ‘New China,’ which has emerged in the last three decades. This authentic, comprehensive, and carefully curated text is a must-read for students, teachers, and scholars of China at all levels.” Gregory T. Chin, York University, Canada, and former Canadian diplomat “This first-class textbook introduces China’s political economy in both historical and comparative perspective. It provides in-depth analysis of key domestic issues and explores post-pandemic shifts in international trade and investment. Comprehensive and accessible, this book equips readers with the essential knowledge to understand China’s evolving role in the global economy.” Wendy Leutert, Indiana University Bloomington