How Nations Succeed: The China Case Study (China and Globalization)

This book offers a comprehensive analysis of China’s economic governance model-its astonishing success in improving the lives of average people and its future challenges.Beginning with a comparative history of the Chinese and US economies from 1979 to 2025, the discussion analyzes the distinct historical phases of China’s transformation.The author stresses that the details of a nation’s financial system determine whether a sustainable fundamental transformation is possible. Challenging conventional theories, the author attributes China’s achievements to its ability to combine a government-planned financial system that promotes capital investment in infrastructure and industry, highly competitive markets in almost all sectors of the economy, and Confucian/socialist social capital.Using these systems, China created a benevolent cycle of high investment, fierce competition, and rapidly rising real wages. Looking into future, the author argues that China is now in the midst of a further tr