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The China Boom - Why China Will Not Rule the World (Hardcover)
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The China Boom - Why China Will Not Rule the World (Hardcover)
Series: Contemporary Asia in the World
Expected to ship within 12 - 17 working days
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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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