This book makes a seraching analysis of the world economic system and its massive failure in 2008/9. Written by one of our most distinguished academic authorities on issues of economic development, globalization and the changes in former planned economies, Peter Nolan develops a profound and disturbing analyis if what her terms "wild capitalism". He then goes on to consider the rise of China and its relationship to the West - in particular the US. As a China specialist who is involved in public policy issues both in China and the UK, he is well situated to make a nuanaced interpretation of China's current development. He is hopeful for the future of China, although he does not avoid some of the major challenges facing that country. He then discusses the West's relationship with the Islamic world, producing a devastating critique of the approach taken by the West throughout the 20th century and through the first decade of the 21st. Capitalism may have "won" the Cold War, and may appear to offer the only road to successful development, but it has also has its dark side, which was largely forgotten in the euphoria that followed the downfall of the Soviet empire. Recent events have reminded us of the ills that flow from the unregulated pursuit of wealth. Constructive engagement with the rising nations such as China is essential for stability and peace.
This is an important book both for its analysis of the world economic crisis and, perhaps more importantly for its call for a more cooperative economic system.