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"In this concise work, Peter Nolan provides a compelling and provocative assessment of China’s developmental challenge. As Nolan shows, it is not just China, but indeed the whole world, that stands at the crossroads. New rules, new technologies and a new global distribution of power have all called into question traditional answers to the problem of underdevelopment. China, to a greater degree perhaps than any other nation, has the potential to uncover a new path toward modernity. As Nolan points out, the consequences of its doing so, breathtaking as they are, would easily be dwarfed by the catastrophe of its failing to do so." Edward Steinfeld, Massachusetts Institute of Technology <!––end––>
"Peter Nolan has produced a bold, readable and fast–paced work which asks large and important questions. He begins with a brilliant sketch of post–Mao China′s enormous achievements and extraordinary challenges. After presenting the path of neo–liberalism as no solution for China, Nolan powerfully depicts the lasting lessons of the unique and glorious successes that were China′s in the ages before the rise of Europe. He concludes with an innovative and insightful argument that, properly understood, the way ahead for China lies in synthesizing and building on the best in ethical thinking and economic analysis shared by Confucius and Adam Smith. Nolan has produced a mind–expanding tour de force." Edward Friedman, University of Winsconsin
"This is an important book written in the tradition of The Wealth of Nations and The Theory of Moral Sentiments. Rare in the political economy literature, it is simultaneously sweeping and detailed, rigorous and moving." Lin Chun, Asia Research Centre, London School of Economics
"This is a very readable book, full of interesting historical information on China, extensive literature refrences to works by Confucius, Marco Polo and Adam Smith (to mention but a few) and wise comments on the direction China should take at this critical juncture." Piiter Bottelier, Johns Hopkins University
Product Description
This concise and timely book, written by one of the world′s leading authorities on China, argues that the country is at a crossroads in its development and explores the challenges that lie ahead.
- A concise and timely book about China and its future, which argues that the country it at a crossroads in its development.
- Written by one of the world’s leading authorities on China.
- Explores the challenges facing China′s leadership in the 21st Century, including poverty and inequality, the global business revolution, the environment, the capability and role of the state, international relations, the communist party, and the economy.
- Puts forward a concrete view about the course China should follow in the coming decades.
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First Sentence
We have seen in the prologue to this study that China has achieved remarkable results in its social and economic development since the process of 'reform and opening up' was initiated by Deng Xiaoping over two decades ago. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
We have seen in the prologue to this study that China has achieved remarkable results in its social and economic development since the process of 'reform and opening up' was initiated by Deng Xiaoping over two decades ago. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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2 reviews
1 of 1 people found the following review helpful
Excellent reference book for Chinese Development
3 Sep 2009
Format:Paperback
This book was written in 2002 and is an entry into the debate of whether China should engage in greater opening of its markets, i.e. free markets, or whether it should remain an authoritarian state. As with most sino-scholars, the answer is to point out the vagrancy of the free markets and show that in fact, this could be the single worst thing for China.
While, yes, I agree, I am not the biggest fan of using problems in the US to illustrate the problems with capitalism. Indeed, I would suggest that if people looked at the similarities in economic development instead of pointing out the differences, the nuances of the conclusion might be interesting. This is not to say that Nolan crosses the line. I suspect that much of his commentary is in reaction to those that believe Adam Smith so passionately that they forget that the US is in fact, not a free market according to his definition; but instead, a highly regulated, highly developed system; that has evolved over centuries.
I'm not sure either that that path of Europe serves as a good description either of the path that China must take. The arguments here are only modestly better than a comparative of China to Singapore, Hong Kong and the like.
I wish instead that these scholars would look more for the sign posts and address the issues as they stand, suggesting systems from other nations as tools, and not as potential paradigm shifting philosophies of thought. In other words, China, in the 6 years since the writing of the book, has and will continue to open its markets. Simply, it will not do it in the foolish way that other nations have, which exposes it to the vagrancies of the FX and "fast" money capital inflows. These show a destabilizing effect regardless of the history/culture of a nation.
Otherwise, I have to admit that Nolan is an absolute expert. He does a fantastic job of weaving in the historical elements of China with the current state of affairs. the amount of research that must have been required for this rather brief 180 page-ish book is significant and for that I give it four stars.
While, yes, I agree, I am not the biggest fan of using problems in the US to illustrate the problems with capitalism. Indeed, I would suggest that if people looked at the similarities in economic development instead of pointing out the differences, the nuances of the conclusion might be interesting. This is not to say that Nolan crosses the line. I suspect that much of his commentary is in reaction to those that believe Adam Smith so passionately that they forget that the US is in fact, not a free market according to his definition; but instead, a highly regulated, highly developed system; that has evolved over centuries.
I'm not sure either that that path of Europe serves as a good description either of the path that China must take. The arguments here are only modestly better than a comparative of China to Singapore, Hong Kong and the like.
I wish instead that these scholars would look more for the sign posts and address the issues as they stand, suggesting systems from other nations as tools, and not as potential paradigm shifting philosophies of thought. In other words, China, in the 6 years since the writing of the book, has and will continue to open its markets. Simply, it will not do it in the foolish way that other nations have, which exposes it to the vagrancies of the FX and "fast" money capital inflows. These show a destabilizing effect regardless of the history/culture of a nation.
Otherwise, I have to admit that Nolan is an absolute expert. He does a fantastic job of weaving in the historical elements of China with the current state of affairs. the amount of research that must have been required for this rather brief 180 page-ish book is significant and for that I give it four stars.
1 of 1 people found the following review helpful
Insightful
16 May 2006
Format:Paperback
I read this while I was studying at Jesus College where Peter Nolan is a professor. I am a little biased, but looking past that, I found the book to be captivating, insightful, and by far the most useful one we looked at while learning about the political economy of China.
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