The China Boom: Why China Will Not Rule the World by Ho-fung Hung

By Ho-fung Hung

Many idea China’s upward push might essentially remake the worldwide order. but, very similar to different constructing countries, the chinese language kingdom now unearths itself entrenched in a standing quo characterised via unfastened exchange and American domination. via a state of the art old, sociological, and political research, Ho-fung Hung exposes the competing pursuits and monetary realities that mood the dream of chinese language supremacy—forces which are stymieing development during the international South. Hung specializes in 4 universal misconceptions approximately China’s growth: that China may possibly undermine orthodoxy by means of providing an alternate version of development; that China is substantially changing strength family members among the East and the West; that China is able to diminishing the worldwide strength of the us; and that the chinese language economic climate may fix the world’s wealth after the 2008 monetary predicament. His paintings unearths how a lot China is dependent upon the prevailing order and the way the pursuits of the chinese language elites continue those ties. via its perpetuation of the buck normal and its dependancy to U.S. Treasury bonds, China is still sure to the phrases of its personal prosperity, and its monetary practices of exploiting debt bubbles are destined to fail. Dispelling a few of the world’s fantasies and fears, Hung warns of a postmiracle China that would develop more and more assertive in perspective whereas last restricted in capability.

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