October 2012

China’s arrival on the world scene in the 1990s was the largest part of globalization. It brought many benefits worldwide: lower prices to Western consumers, large profits to multinationals, huge windfalls to commodity-rich countries, and employment and strong export growth to China. China’s emergence as a major global supplier and trader helped to create a boom which brought global growth with lower inflation and, for a time, an illusory stability, and also made China into the largest financer of the developed world.

But Western politicians, regulators and bankers, their vision limited by national boundaries, did not understand at the time the true causes of the global economic boom of the Millennium. They attributed it largely to a revolution in risk management and their own wise policies. China and the Credit Crisis argues that if the role played in the new prosperity by globalization and an emerging China had been better understood, more appropriate policies and actions may have been adopted by central bankers and regulators which could have avoided the financial crash in 2008, or at least greatly limited its impact.

China and the Credit Crisis goes on to examine the larger role that China will continue to play in a post-crisis world.

In China, life is comfortable for the fortunate few. For others, it’s a hand-to-mouth struggle for a full stomach, a place to live, wages for work done, and freedom to speak openly. It’s a place where few things are more important than food; “Have you eaten yet?” is another way of saying hello. After traversing the country and meeting its people, Ang shares her delicious experiences with us. She tells of a clandestine cup of salty yak butter tea with a Tibetan monk during a military crackdown, and explains how a fluffy spring onion omelet encapsulates China’s drive for rural development. You’ll have lunch with some of the country’s most enduring activists, savor meals with earthquake survivors, and get to know a house cleaner who makes the best fried chicken in all of Beijing. Through her reporting, Ang bites into the gaping divide between rich and poor, urban and rural reform, intolerance for dissent, and the growing dissatisfaction with those in power. By serving these topics to us one at a time through the stories of ordinary citizens, To the People, Food Is Heaven provides a fresh perspective beyond the country’s anonymous identity as an economic powerhouse. Ang plates a terrific, wide-ranging feast that is the new China, a country convulsed by change and propelled by aspiration. Have you eaten yet?  —Lyons Press