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This book is about the growth of shadow banking in China and the rise of China’s free markets. Shadow Banking refers to capital that is distributed outside the formal banking system, including everything from Mom and Pop lending shops to online credit to giant state owned banks called Trusts. They have grown from a fraction of the economy 10 years ago to nearly half of all China’s annual 25 trillion renminbi (U.S.$4.1 trillion) in lending in the economy today.Shadow Banks are a new aspect of capitalism in China—barely regulated, highly risky, yet tolerated by Beijing. They have been permitted to flourish because many companies cannot get access to formal bank loans. It is the Wild West of banking in China. If we define capitalism as economic activity controlled by the private sector, then Shadow Banking is still in a hybrid stage, a halfway house between the state and the private economic. But it is precisely this divide that makes Shadow Banking important to the rise of capitalism. How Beijing handles this large free market will say a lot about how the country’s economy will grow—will free markets be granted greater leeway? —Palgrave Macmillan{chop}

Fortune Makers analyzes and brings to light the distinctive practices of business leaders who are the future of the Chinese economy. These leaders oversee not the old state-owned enterprises, but private companies that have had to invent their way forward out of the wreckage of an economy in tatters following the Cultural Revolution.Outside of brand names such as Alibaba and Lenovo, little is known, even by the Chinese themselves, about the people present at the creation of these innovative businesses. Fortune Makers provides sharp insights into their unique styles—a distinctive blend of the entrepreneur, the street fighter, and practices developed by the Communist Party—and their distinctive ways of leading and managing their organizations that are unlike anything the West is familiar with.When Peter Drucker published Concept of the Corporation in 1946, he revealed what made large American corporations tick. Similarly, when Japanese companies emerged as a global force in the 1980s, insightful analysts explained the practices that brought Japan’s economy out of the ashes—and what managers elsewhere could learn to compete with them. Now, based on unprecedented access, Fortune Makers allows business leaders in the United States and the rest of the West to understand the essential character and style of Chinese corporate life and its dominant players, whose businesses are the foundation of the domestic Chinese market and are now making their mark globally. —PublicAffairs{chop}

Welfare, Work, and Poverty provides the first systematic and comprehensive evaluation of the impacts and effectiveness of China’s primary social assistance program—the “dibao,” or “Minimum Livelihood Guarantee”—since its inception in 1993. The dibao serves the dual function of providing a basic safety net for the poor and maintaining social and political stability. Despite currently being the world’s largest welfare program in terms of population coverage, evidence on the dibao’s performance has been lacking. This book offers important new empirical evidence and draws policy lessons that are timely and useful for both China and beyond. Specifically, author Qin Gao addresses the following questions:How effective has the dibao been in targeting the poor and alleviating poverty?Have dibao recipients been dependent on welfare or able to move from welfare to work?How has the dibao affected recipients’ consumption patterns and subjective well-being?Do they use dibao subsidies to meet survival needs (such as food, clothing, and shelter) or to invest in human capital (such as health and education)?Are they distressed by the stigma associated with receiving dibao, or do they become more optimistic about the future and enjoy greater life satisfaction because of dibao support?And finally, what policy lessons can we learn from the existing evidence in order to strengthen and improve the dibao in the future?Answers to these questions not only help us gain an in-depth understanding of the dibao’s performance, but also add the Chinese case to the growing international literature on comparative welfare studies. Welfare, Work, and Poverty is essential reading for political scientists, economists, sociologists, public policy researchers, and social workers interested in learning about and understanding contemporary China. —Oxford University Press{chop}Related Reading:“Welfare, Work, and Poverty: How Effective is Social Assistance in China?,” by Qin Gao, China Policy Institute: Analysis

In the eighteenth and nineteenth centuries, booming demand for natural resources transformed China and its frontiers. Historians of China have described this process in stark terms: pristine borderlands became breadbaskets. Yet Manchu and Mongolian archives reveal a different story. Well before homesteaders arrived, wild objects from the far north became part of elite fashion, and unprecedented consumption had exhausted the region’s most precious resources.In A World Trimmed with Fur, Jonathan Schlesinger uses these diverse archives to reveal how Qing rule witnessed not the destruction of unspoiled environments, but their invention. Qing frontiers were never pristine in the nineteenth century—pearlers had stripped riverbeds of mussels, mushroom pickers had uprooted the steppe, and fur-bearing animals had disappeared from the forest. In response, the court turned to “purification”; it registered and arrested poachers, reformed territorial rule, and redefined the boundary between the pristine and the corrupted. Schlesinger’s resulting analysis provides a framework for rethinking the global invention of nature. —Stanford University Press{chop}

From journalist Ian Johnson, a revelatory portrait of religion in China today—its history, the spiritual traditions of its Eastern and Western faiths, and the ways in which it is influencing China’s future.The Souls of China tells the story of one of the world’s great spiritual revivals. Following a century of violent anti-religious campaigns, China is now filled with new temples, churches, and mosques—as well as cults, sects, and politicians trying to harness religion for their own ends. Driving this explosion of faith is uncertainty over what it means to be Chinese and how to live an ethical life in a country that discarded traditional morality a century ago and is searching for new guideposts.Johnson first visited China in 1984. In the 1990s, he helped run a charity to rebuild Daoist temples, and in 2001 he won a Pulitzer Prize for his coverage of the suppression of the Falun Gong spiritual movement. While researching this book, he lived for extended periods with underground church members, rural Daoists, and Buddhist pilgrims. Along the way, he learned esoteric meditation techniques, visited a nonagenarian Confucian sage, and befriended government propagandists as they fashioned a remarkable embrace of traditional values. He has distilled these experiences into a cycle of festivals, births, deaths, detentions, and struggle—a great awakening of faith that is shaping the soul of the world’s newest superpower. —Pantheon{chop}

China’s Mobile Economy: Opportunities in the Largest and Fastest Information Consumption Boom is a cutting-edge text that spotlights the digital transformation in China. Organized into three major areas of the digital economy within China, this ground-breaking book explores the surge in e-commerce of consumer goods, the way in which multi-screen and mobile Internet use has increased in popularity, and the cultural emphasis on the mobile Internet as a source of lifestyle- and entertainment-based content. Targeted at the global business community, this lucid and engaging text guides business leaders, investors, investment banking professionals, corporate advisors, and consultants in grasping the challenges and opportunities created by China’s emerging mobile economy, and its debut on the global stage.The year of 2014-15 marks the most important inflection point in the history of the Internet in China. Almost overnight, the world’s largest digitally-connected middle class went both mobile and multi-screen (smart phone, tablets, laptops, and more), with huge implications for how consumers behave and what companies need to do to successfully compete. As next-generation mobile devices and services take off, China’s strength in this arena will transform it from a global “trend follower” to a “trend setter.”Understand what the digital transformation in China is, and impact on global capital markets, foreign investors, consumer companies, and the global economy as a whole.Explore the e-commerce consumption boom in the context of the Chinese market.Understand the implications of the multi-screen age and mobile Internet for China’s consumersSee how mobile Internet use, its focus on lifestyle and entertainment is aligned with today’s Chinese culture.Learn about the mobile entertainment habits of China’s millennial generation and the corresponding new advertisement approaches.The development of China’s mobile economy is one of the most important trends that will reshape the future of business, technology, and society both in China and the world. China's Mobile Economy introduces you to the digital transformation in China, and explains how this transformation has the potential to transform both China and the global consumer landscape. —John Wiley & Sons, Inc.{chop}

Many have viewed the tribute system as China’s tool for projecting its power and influence in East Asia, treating other actors as passive recipients of Chinese domination. China's Hegemony sheds new light on this system and shows that the international order of Asia’s past was not as Sinocentric as conventional wisdom suggests. Instead, throughout the early modern period, Chinese hegemony was accepted, defied, and challenged by its East Asian neighbors at different times, depending on these leaders’ strategies for legitimacy among their populations. This book demonstrates that Chinese hegemony and hierarchy were not just an outcome of China’s military power or Confucian culture but were constructed while interacting with other, less powerful actors’ domestic political needs, especially in conjunction with internal power struggles.Focusing on China-Korea-Japan dynamics of East Asian international politics during the Ming and High Qing periods, Ji-Young Lee draws on extensive research of East Asian language sources, including records written by Chinese and Korean tributary envoys. She offers fascinating and rich details of war and peace in Asian international relations, addressing questions such as: why Japan invaded Korea and fought a major war against the Sino-Korean coalition in the late sixteenth century; why Korea attempted to strike at the Ming empire militarily in the late fourteenth century; and how Japan created a miniature tributary order posing as the center of Asia in lieu of the Qing empire in the seventeenth century. By exploring these questions, Lee’s in-depth study speaks directly to general international relations literature and concludes that hegemony in Asia was a domestic, as well as an international, phenomenon with profound implications for the contemporary era. —Columbia University Press{chop}

China’s labor landscape is changing, and it is transforming the global economy in ways that we cannot afford to ignore. Once-silent workers have found their voice, organizing momentous protests, such as the 2010 Honda strikes, and demanding a better deal. China’s leaders have responded not only with repression but with reforms. Are China’s workers on the verge of a breakthrough in industrial relations and labor law reminiscent of the American New Deal?In A New Deal for China’s Workers? Cynthia Estlund views this changing landscape through the comparative lens of America’s twentieth-century experience with industrial unrest. China’s leaders hope to replicate the widely shared prosperity, political legitimacy, and stability that flowed from America’s New Deal, but they are irrevocably opposed to the independent trade unions and mass mobilization that were central to bringing it about. Estlund argues that the specter of an independent labor movement, seen as an existential threat to China’s one-party regime, is both driving and constraining every facet of its response to restless workers.China’s leaders draw on an increasingly sophisticated toolkit in their effort to contain worker activism. The result is a surprising mix of repression and concession, confrontation and cooptation, flaws and functionality, rigidity and pragmatism. If China’s laborers achieve a New Deal, it will be a New Deal with Chinese characteristics, very unlike what workers in the West achieved in the last century. Estlund’s sharp observations and crisp comparative analysis make China’s labor unrest and reform legible to Western readers. —Harvard University Press{chop}

When Deng Xiaoping launched China on the path to economic reform in the late 1970s, he vowed to build “socialism with Chinese characteristics.” More than three decades later, China’s efforts to modernize have yielded something very different from the working people’s paradise Deng envisioned: an incipient kleptocracy, characterized by endemic corruption, soaring income inequality, and growing social tensions. China’s Crony Capitalism traces the origins of China’s present-day troubles to the series of incomplete reforms from the post-Tiananmen era that decentralized the control of public property without clarifying its ownership.Beginning in the 1990s, changes in the control and ownership rights of state-owned assets allowed well-connected government officials and businessmen to amass huge fortunes through the systematic looting of state-owned property—in particular land, natural resources, and assets in state-run enterprises. Mustering compelling evidence from over two hundred corruption cases involving government and law enforcement officials, private businessmen, and organized crime members, Minxin Pei shows how collusion among elites has spawned an illicit market for power inside the party-state, in which bribes and official appointments are surreptitiously but routinely traded. This system of crony capitalism has created a legacy of criminality and entrenched privilege that will make any movement toward democracy difficult and disorderly.Rejecting conventional platitudes about the resilience of Chinese Communist Party rule, Pei gathers unambiguous evidence that beneath China’s facade of ever-expanding prosperity and power lies a Leninist state in an advanced stage of decay. —Harvard University Press{chop}

If China will rule the world one day, who will rule China? There are more than 320 million Chinese between the ages of 16 and 30. Children of the one-child policy, born after Mao, with no memory of the Tiananmen Square massacre, they are the first net native generation to come of age in a market-driven, more international China. Their experiences and aspirations were formed in a radically different country from the one that shaped their elders, and their lives will decide the future of their nation and its place in the world.Wish Lanterns offers a deep dive into the life stories of six young Chinese. Dahai is a military child, netizen, and self-styled loser. Xiaoxiao is a hipster from the freezing north. Fred, born on the tropical southern island of Hainan, is the daughter of a Party official, while Lucifer is a would-be international rock star. Snail is a country boy and Internet-gaming addict, and Mia is a fashionista rebel from far west Xinjiang. Following them as they grow up, go to college, and find work and love, all the while navigating the pressure of their parents and society, Wish Lanterns paints a vivid portrait of Chinese youth culture and of a millennial generation whose struggles and dreams reflect the larger issues confronting China today. —Arcade Publishing{chop}

China’s entry into the World Trade Organization in 2001 ignited a race to capture new global media audiences. Hollywood moguls began courting Chinese investors to create entertainment on an international scale—from behemoth theme parks to blockbuster films. Hollywood Made in China examines these new collaborations, where the distinctions between Hollywood’s “dream factory” and Xi Jinping’s “Chinese Dream” of global influence become increasingly blurred. With insightful policy analysis, ethnographic research, and interviews with CEOs, directors, and film workers in Beijing, Shanghai, and Los Angeles, Aynne Kokas offers an unflinching look at China’s new role in the global media industries. A window into the partnerships with Chinese corporations that now shape Hollywood, this book will captivate anyone who consumes commercial media in the twenty-first century. —University of California Press{chop}

Since Marco Polo, the West has waited for the “Asian Century.” Today, the world believes that Century has arrived. Yet from China’s slumping economy to war clouds over the South China Sea and from environmental devastation to demographic crisis, Asia’s future is increasingly uncertain. Historian and geopolitical expert Michael Auslin argues that far from being a cohesive powerhouse, Asia is a fractured region threatened by stagnation and instability. Here, he provides a comprehensive account of the economic, military, political, and demographic risks that bedevil half of our world, arguing that Asia, working with the United States, has a unique opportunity to avert catastrophe—but only if it acts boldly. Bringing together firsthand observations and decades of research, Auslin’s provocative reassessment of Asia’s future will be a must-read for industry and investors, as well as politicians and scholars, for years to come. —Yale University Press{chop}

Over the course of 66 days in 1967, more than 4,000 “class enemies”—including young children and the elderly—were murdered in Daoxian, a county in China’s Hunan province. The killings spread to surrounding counties, resulting in a combined death toll of more than 9,000. Commonly known as the Daoxian massacre, the killings were one of many acts of so-called mass dictatorship and armed factional conflict that rocked China during the Cultural Revolution. However, in spite of the scope and brutality of the killings, there are few detailed accounts of mass killings in China’s countryside during the Cultural Revolution’s most tumultuous years.Years after the massacre, journalist Tan Hecheng was sent to Daoxian to report on an official investigation into the killings. Tan was prevented from publishing his findings in China, but in 2010, he published the Chinese edition of The Killing Wind in Hong Kong. Tan’s first-hand investigation of the atrocities, accumulated over the course of more than 20 years, blends his research with the recollections of survivors to provide a vivid account exploring how and why the massacre took place and describing its aftermath. Dispelling the heroic aura of class struggle, Tan reveals that most of the Daoxian massacre’s victims were hard-working, peaceful members of the rural middle class blacklisted as landlords or rich peasants. Tan also describes how political pressure and brainwashing turned ordinary people into heartless killing machines.More than a catalog of horrors, The Killing Wind is also a poignant meditation on memory, moral culpability, and the failure of the Chinese government to come to terms with the crimes of the Maoist era. By painting a detailed portrait of this massacre, Tan makes a broader argument about the long-term consequences of the Cultural Revolution, one of the most violent political movements of the twentieth century. A compelling testament to the victims and survivors of the Daoxian massacre, The Killing Wind is a monument to historical truth—one that fills an immense gap in our understanding of the Mao era, the Cultural Revolution, and the status of truth in contemporary China. —Oxford University Press{chop}

Long before London and New York rose to international prominence, a trading route was discovered between Spanish America and China that ushered in a new era of globalization. The “Ruta de la Plata,” or “Silver Way,” catalyzed economic and cultural exchange, built the foundations for the first global currency, and led to the rise of the first “world city.” And yet, for all its importance, the Silver Way is too often neglected in conventional narratives on the birth of globalization. Gordon and Morales re-establish its fascinating role in economic and cultural history, with direct consequences for how we understand China today. —Penguin China{chop}

From the former New York Times Asia correspondent and author of China’s Second Continent, an incisive investigation of China’s ideological development as it becomes an ever more aggressive player in regional and global diplomacy.For many years after its reform and opening in 1978, China maintained an attitude of false modesty about its ambitions. That role, reports Howard French, has been set aside. China has asserted its place among the global heavyweights, revealing its plans for pan-Asian dominance by building its navy, increasing territorial claims to areas like the South China Sea, and diplomatically bullying smaller players. Underlying this attitude is a strain of thinking that casts China’s present-day actions in decidedly historical terms, as the path to restoring the dynastic glory of the past. If we understand how that historical identity relates to current actions, in ways ideological, philosophical, and even legal, we can learn to forecast just what kind of global power China stands to become–and to interact wisely with a future peer.Steeped in deeply researched history as well as on-the-ground reporting, this is French at his revelatory best. —Penguin Random House{chop}

In this groundbreaking and authoritative study, Chloë Starr explores key writings of Chinese Christian intellectuals, from philosophical dialogues of the late imperial era to micro-blogs of pastors in the 21st century. Through a series of close textual readings, she sheds new light on such central issues in Chinese theology as Christian identity and the evolving question of how Christians should relate to society and state.Reading these texts in their socio-political and traditional literary contexts, Starr opens a new conversation about the nature of Chinese theology and the challenge it offers to a broad understanding of how theology is created and contextualized. Concentrating on those theologians who have engaged most actively with their cultural and political milieus, Starr argues throughout her readings, as she examines how Chinese literary traditions and reading patterns have shaped Chinese theology, that text is as important as context. —Yale University Press{chop}

Within the next decade, China could be home to more Christians than any other country in the world. Through the 150-year saga of a single family, this book vividly dramatizes the remarkable religious evolution of the world’s most populous nation. Shanghai Faithful is both a touching family memoir and a chronicle of the astonishing spread of Christianity in China. Five generations of the Lin family—buffeted by history’s crosscurrents and personal strife—bring to life an epoch that is still unfolding.A compelling cast—a poor fisherman, a doctor who treated opium addicts, an Ivy League-educated priest, and the charismatic preacher Watchman Nee—sets the book in motion. Veteran journalist Jennifer Lin takes readers from remote nineteenth-century mission outposts to the thriving house churches and cathedrals of today’s China. The Lin family—and the book’s central figure, the Reverend Lin Pu-chi—offer witness to China’s tumultuous past, up to and beyond the betrayals and madness of the Cultural Revolution, when the family’s resolute faith led to years of suffering. Forgiveness and redemption bring the story full circle. With its sweep of history and the intimacy of long-hidden family stories, Shanghai Faithful offers a fresh look at Christianity in China—past, present, and future. —Rowman & Littlefield{chop}

Unlikely Partners recounts the story of how Chinese politicians and intellectuals looked beyond their country’s borders for economic guidance at a key crossroads in the nation’s tumultuous 20th century. Julian Gewirtz offers a dramatic tale of competition for influence between reformers and hardline conservatives during the Deng Xiaoping era, bringing to light China’s productive exchanges with the West.When Mao Zedong died in 1976, his successors seized the opportunity to reassess the wisdom of China’s rigid commitment to Marxist doctrine. With Deng Xiaoping’s blessing, China’s economic gurus scoured the globe for fresh ideas that would put China on the path to domestic prosperity and ultimately global economic power. Leading foreign economists accepted invitations to visit China to share their expertise, while Chinese delegations traveled to the United States, Hungary, Great Britain, West Germany, Brazil, and other countries to examine new ideas. Chinese economists partnered with an array of brilliant thinkers, including Nobel Prize winners, World Bank officials, battle-scarred veterans of Eastern Europe’s economic struggles, and blunt-speaking free-market fundamentalists.Nevertheless, the push from China’s senior leadership to implement economic reforms did not go unchallenged, nor has the Chinese government been eager to publicize its engagement with Western-style innovations. Even today, Chinese Communists decry dangerous Western influences and officially maintain that China’s economic reinvention was the Chinese Communist Party’s achievement alone. Unlikely Partners sets forth the truer story, which has continuing relevance for China’s complex and far-reaching relationship with the West. —Harvard University Press{chop}