The China Boom: Why China Will Not Rule the World

Hardcover | October 20, 2015

byHo-fung Hung

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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.

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From the Publisher

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 an...

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).

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Format:HardcoverDimensions:264 pages, 9 × 6 × 0.98 inPublished:October 20, 2015Publisher:Columbia University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0231164181

ISBN - 13:9780231164184

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Table of Contents

List of Illustrations and TablesPrefaceChronology of State Making and Capitalist Development in China, Sixteenth to Twenty-First CenturiesIntroduction: Sinomania and CapitalismPart I. Origins1. A Market Without Capitalism, 1650-18502. Primitive Accumulation, 1850-19803. The Capitalist Boom, 1980-2008Part II. Global Effects, Coming Demise4. Rise of the Rest5. A Post-American World?6. Global CrisisConclusion: After the BoomNotesReferencesIndex

Editorial Reviews

Ho-fung Hung offers us the clearest analysis we have of the historical origins of China's economic model and for its future prospects. Hung's work is political economy at its best.