China Transformed: Historical Change And The Limits Of European Experience Review

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China Transformed: Historical Change And The Limits Of European Experience ReviewThis interesting book is an attempt to look at Chinese history in an unbiased manner. Professor Wong notes correctly that interpretations of many scholars are distorted by judging Chinese history by its deviations from what is presumed to be the normative, or desired, course of development. The normative standards, of course, are derived from European history. Wong makes the very good point that using European history in this way is damaging not only to the study of Chinese history but also imposes distortions on the study of European history. Wong is concerned particularly with examining Chinese economic development and state formation. This book covers a very wide sweep of Chinese history, roughly from the Ming to contemporary China. The book is divided into 3 components; one comparing China and Europe in the pre-industrial period of the 17th and 18th centuries, one looking at the response of the Chinese state and society to the great challenges of the 19th century, and one looking at the response of the Chinese state and society to social unrest. The first third of the book is the best. The analysis of pre-industrial China is really interesting and Wong makes a set of very interesting points. He demonstrates well that the economic differences between China and pre-industrial Europe have been exaggerated. He then examines the unique character of the Chinese state. Again, the comparison with European political development is illuminating. This section achieves Wong's goal of treating Chinese history as an autonomous phenomenon but maintaining a useful comparative perspective. The second part of the book is quite good and the discussion of the problems faced by the 19th century Chinese state and its responses is interesting. Again, there are interesting comparisons with European states. The final section is the least interesting. It adds little to carrying forward Wong's basic project of establishing the autonomy of studying Chinese history. Indeed, I see little that departs from prior conventional interpretations. This section in particular suffers also from Wong's attempt to cover such a broad range of Chinese history and at times has a superficial quality. Wong is generally a clear writer but sometimes slips into what might be called post-modernist academic jargon. For example, the narrative (used to mean analysis) appears often, as does discourse (ditto), and privilege appears as a verb. This is not a major defect but is irritating.China Transformed: Historical Change And The Limits Of European Experience Overview

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The Food of China Review

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The Food of China ReviewPublished in the late 1980s, The Food of China remains one of the key modern works on Chinese food history. This was the first book I read on Chinese food. That was a mistake, if only because the book is so dense with information that the reading experience was quite overwhelming at the time. So if you are a novice like I was, start with something lighter such as Francine Halvorsen's The Food and Cooking of China before taking the deep plunge with this more academic book. But E. N. Anderson remains on of the two or three authoritative references in my bookshelf that I know I will be reaching for many years to come.The Food of China Overview

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Rivals: How the Power Struggle Between China, India and Japan Will Shape Our Next Decade Review

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Rivals: How the Power Struggle Between China, India and Japan Will Shape Our Next Decade ReviewThe central thesis of this book is that the rise of Asia is going to pit Asians against Asians. A new power game is under way between Japan, China and India: for the first time in history, three great nations in Asia are vying for regional supremacy all at the same time. Japan used to be number one and cannot content itself with being a distant number two. China and India both think that the future belongs to them: they cannot both be right at the same time. As Bill Emmott puts it, "the balance between the regional powers is going to become the crucial determinant of whether Asia's rise will be one of peace and prosperity or one that brings conflict and turbulence, both to the region itself and to the world as a whole."
Bill Emmott sees proof of this emerging rivalry in the hedging strategy of the world superpower. The United States can no longer rely on a regional triangle with one ally, one competitor and one neutral third party: they need to ally with two powers in order to keep the third one neutral. This is why Bush, in his landmark visit to India in March 2006, chose to sideline concerns about nuclear proliferation and signed a deal for extended cooperation with India, including in the field of civil nuclear energy. India is a country with the potential to balance the rising power of China, and it is courted as such by the US, but also by Japan and the ASEAN countries which agreed, against all common geographical sense, to include the South Asian giant in their new East Asian Summit caucus.
Although the rivalry thesis is worth considering, I found the whole thing a little bit oversold. For a start, it is by no means the only thread to the story, but rather an editing gimmick that provides a catchy headline to a book that is basically a survey about the three great Asian powers. The individual chapters on China, Japan and India are valuable in their own right: they are written in the no-nonsense, right-to-the-point style that is the hallmark of The Economist, where they each could have been included as special country surveys.
There is an interesting discussion on Chinese statistics, where one learns for instance that in 2005 twenty-nine out of thirty-one regions reported "higher than average" growth rates. Contrary to the myth of unlimited labor supply from the Chinese countryside, the author thinks that the combination of higher incomes from agriculture and low birth rates will likely lead to less migrant labor and rising wages. Emmott today encounters in Beijing the same lack of transparency and accountability, the same feeling of self-confidence and even arrogance among senior officials, the same over-investment and misallocation of capital that he used to confront in Japan twenty years ago. Now Japan worries whether its credit rating will fall above or below Botswana, and it is dismissed by foreigners as a greying and declining nation.
The author of The Sun Also Sets nevertheless thinks that Japan could rebound if it succeeds in reinventing itself, like America did during the decade of the "new economy" which brought a sharp and unexpected jump in its productivity levels. He also thinks that with the right reforms, India could achieve growth of more than ten percent for at least a decade, provoking a transformation of a magnitude comparable to what China experienced in the last twenty years. As he notes, "the process of economic growth is in part a process of removing obstacles, rather as the dredging of boulders from a river will permit the water to flow more smoothly. There are a lot of obstacles to be removed, so there is a lot of potential for improvement."
Rivalry between the three Asian powers is therefore not the whole story. Indeed, it could be argued that the rise of new powers, like China and India, is more likely to lead to stabilization and peace than to disruption and war. China's trade (imports plus exports) is equivalent to 67 percent for GDP, whereas the ratio is 22 percent for America and 28 percent for Japan. The greater openness of China's economy, although it is still smaller than Japan's, means that China has more trade and investment with its smaller Asian neighbors and with the rest of the world than Japan does, often resulting in greater influence, as the flag follows foreign trade. A few decades ago, neighboring countries viewed the rise of Japan as stifling their economic independence. There was a time when European multinationals marketed themselves as an alternative to an exclusive reliance on Japanese firms. Now many view the rise of China as creating competition and thereby liberating them. Contrary to Japan's, Chinese trade is a two-way street, and it offers a great market for exports from its neighbors.
As Bill Emmott notes, Asia is piled high with historical bitterness, unresolved territorial disputes, potential flash points and strategic competition that could readily ignite even during the next decade. But the potential for cooperation is also great, and the sweetener of commerce should soothe nationalistic hurdles and instead promote a healthy spirit of competition in which all partners will gain.Rivals: How the Power Struggle Between China, India and Japan Will Shape Our Next Decade Overview

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China Rising: Peace, Power, and Order in East Asia Review

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China Rising: Peace, Power, and Order in East Asia ReviewChina may be the United States' "strategic rival," but Kang prefers to examine East Asia's political forces from a non-realist point of view. In other words, Kang argues that the region's countries are accommodating - rather than balancing - China's economic, military, and political rise. This is a refreshing theoretical perspective in a time when realism appears to be the norm.
My only complaint with Kang's book is that it's riddled with grammatical and spelling errors. This is simply unacceptable for an academic publication, and it makes me think that Kang was eager to have his book published as soon as possible.
However, Kang's ideas are presented logically and are expressed well, making "China Rising" an enjoyable read for anyone who's interested in the political economy of East Asia.China Rising: Peace, Power, and Order in East Asia Overview

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Paths to Development in Asia: South Korea, Vietnam, China, and Indonesia Review

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Paths to Development in Asia: South Korea, Vietnam, China, and Indonesia ReviewWhy have some states been more successful at facilitating rapid economic growth than others? "Paths to Development in Asia" compares the experiences of Korea, Indonesia, China, and Vietnam to help provide answers. Many had thought that the end of the Soviet Union meant that the states' role would now be greatly limited. Instead, it turned out that in developing Asian nations, controlled mobilization and suppression of the populace had a positive effect on state cohesion and subsequent economic development, while mass incorporation (democracy) and laissez-faire policies did not. Vu also points out that the 'big-bang' mode has been the prevalent mechanism of state formation in recent years - a mode that facilitates wholesale change.

Vu's examination begins with South Korea. Vu contends that several elements helped create a foundation of strong societal cohesion in Korea prior to its economic rise. One of the first was that both prior to and after the Korean War, the populations of both South and North Korea tended to sort themselves out - supporters of Kim Il Sung went north, while those favoring Rhee stayed or went South. Syngman Rhee, South Korea's first leader after the end of WWII, had initiated land reform in that nation over the 1949-54 period. Peasants were required to pay landlords in installments for land received, a requirement that the Korean Communist Party opposed. In return, Rhee violently suppressed that opposition group, and others. Prior to Rhee, the Japanese had built a cadre of efficient officials and a large police force to replace the corrupt, inefficient monarchy that had existed. The Japanese had also aligned themselves with wealthy Korean entrepreneurs using subsidies, loans, contracts, and strict controls over workers - providing a history of stable industry and work relations. Rhee's government had also used propaganda and coercion to eg. get peasants to replace thatched roofs with composition or tile (eliminate a major fire hazard) - laggards had their roofs torn off by local officials. Rhee's resignation, however, was forced by student protests over 1960 election violence, fueled by the preceding rapid expansion of its education system, and a declining economy. General Park then seized power, declared martial law, and dissolved the National Assembly - leaving himself solely in charge with little/no viable opposition force.

Rhee had contributed decisively to building a unified development structure, but failed to use it to pursue development. The country was in economic decline - lagging even North Korea. General Park seized power after Rhee's abdication, declared martial law, and dissolved the National Assembly - leaving himself solely in charge with little/no opposition force. However, Park was still facing that same spectre of economic decline, as well as potential rivals in the military. Thus, he quickly proceeded to use the nation's cohesion to focus on building South Korea's economy.

Switching to China, Vu observes that when Mao declared the formation of the People's Republic of China in 1949, he had a cohesive core of Chinese Communist Party (CCP) leaders already well imbued with the 'correct line,' plus a loyal four million-man military. CCP administrative power extended down to the village level, and its strength so impressed Stalin that he provided Soviet aid (men, materials, money). Campaigns against 'anti-revolutionaries' and former loyalist followers of Chiang Kai Shek further unified the society. Then came land-reform cooperatives (resisted at first) which eventually seemed to further unify the peasants and destroy opposing elites, but left smoldering resentment.

Mao then made three more successive major errors that undermined cohesion. First came the 1957 campaign ('Let 1,000 flowers bloom') that was supposed to allow mild criticisms of government leaders; when the criticisms turned into an unexpected torrent, Mao's 'Anti-Rightist' campaign followed - again aimed at solidifying support. Mao's 'Great Leap Forward' followed in 1958, and was his next major mistake, directly responsible for an estimated 20 million deaths due to starvation and the loss of Soviet support (they thought he was 'crazy'). Mao's fourth major error was launching the Cultural Revolution' (1965-68) to stomp out thinking resentful of CCP leadership up to that point. Mao's death in 1976 left a populace highly resentful of CCP leadership to-date; that leadership, in turn, realized that it needed to quickly implement economic improvement to stay in power. Their first act was to free the peasants from major government dictates (what to grow, etc.), as well as the requirements and limitations of communal living and farming. These steps quickly eliminated a major source of peasant discontent and boosted food supplies (a major concern for the entire nation). Soon after came the leaders' decision to continue linking CCP officials' career paths to performance - only now it would be that of their area's economic progress. China had again become unified, cohesive, and ready for major change.

Similarly, with other Asian nations, per Vu's accounting. He also points out instances when Asian nations' ability to grow was limited by lack of unity - India (a number of castes, multiple political parties) offers a prime example.

Summarizing, Vu concludes that "all states are not born equally - some are better endowed with cohesive structures" than others. However, he also quotes Chalmers Johnson's observation that though authoritarianism is the most common regime type, it rarely is accompanied by high-speed, equitable economic growth. Apparently, cohesion is a necessary but not sufficient requirement.Paths to Development in Asia: South Korea, Vietnam, China, and Indonesia Overview

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China, Inc.: How the Rise of the Next Superpower Challenges America and the World Review

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China, Inc.: How the Rise of the Next Superpower Challenges America and the World Review"China Inc" reminds me of the "Japan Inc" of the 1980's. The Japanese business model, at the time, was very successful and feared by many as superior to our own. Since then, we've had the longest economic expansion in our history and Japan has had the longest recession since the end of World War II. Should we feel complacent? Definitely not. The economic juggernaut that is emerging in China is different and it will be more difficult to compete against. Our present government policies and our patterns of consumption are feeding the beast. We are a primary component of China Inc.
Ted C. Fishman is a veteran journalist and former commodities trader who has traveled widely in China and interviewed many workers, managers, and exucutives of Chinese and American companies. He gives us an avalanche of facts detailing the incredible growth that the Chinese economy has experienced in the last 20 years (averaging about 10% annually as opposed to our meager 3%). Can this growth rate be sustained. Fishman doesn't have the answer but he gives us a multitude of statistics to draw our own conclusions.
There is, in retail and manufacturing circles, something known as "the China price." Goods manufactured in China cost anywhere from 30% to 50% less than what they could possibly be made for in the US, in many cases it is less than the cost of materials. American multinationals - such as GM and Wal-Mart - are telling their suppliers to meet the China price or else - which means that the suppliers either set up shop in China or go out of business. Never mind trying to compete on price, China has an abundance of production workers that are willing to work for 40 cents an hour. Even at the high end they have chip designers that are willing the work for $2,000 a month, overtime included. The supply of labor is almost endless, keeping wages at a minimum. Anywhere from 100 to 300 million people migrated from farms to factories in the last two decades. China also graduates more scientists and engineers than the US, making the high-tech industries increasingly more competitive. And among the scientists and engineers that graduate from Americian universities one will find a large percentage are Chinese that will go back to China to work, even at a lower salary.
By meeting the China price multinationals are accelerating the industrialization of China by moving production there and, by the same token, they are deindustrializing here. It has been a major factor in the 2.7 million jobs lost in manufacturing since 2000. Even many small and medium size companies have no choice: move to China or go out of business.
Multinationals alone are not to blame, the American consumer has a seemingly endless appetite for low-cost goods. Low-cost Chinese goods have saved the American consumer more money than last year's tax cuts. What this leads to is a gigantic trade deficit with China of about 150 billion a year - and climbing (the US balance-of-payments deficit is nearly a record 6% of GDP). Add this to the record federal budget deficit and it should come as no surprise that the value of the dollar is in decline. If this situation is not rectified the global financial system will be in for a shock.
The Chinese are benefiting from our relationship in the short and the long term, the US is benefiting in the short term because they are receiving low-cost goods, however the long term outlook for the US is grim. Not only do the Chinese buy up many of the T-bills that finance our federal budget deficits, they buy up mortgages on the secondary market in order to keep us supplied with low-cost money. They are, in effect, lending us money to buy their products. The burgeoning trade and federal budget deficits are a serious problem. It is, however, not a Chinese problem, it's an American problem. The only legitimate complaint that we can make is that they keep the yuan tied to the dollar. No matter how low the dollar goes it won't help close the trade deficit with China.
Fishman has an excellent chapter called "Pirate Nation." He describes how setting up production in China is a double-edged sword for American companies. Everyone knows that these products are studied, analyzed, and reproduced perhaps with a few minor differences for local color. For example, GM spent billions of dollars producing a car for the local market. It was exhibited at the Shanghai Auto Show with a sticker price of $9,000. At the same show a Chinese auto company had basically the same car - called the Chery - for only $6,000. The Chinese auto company was owned in part by Shanghai Auto, GM's local joint-venture partner. Similarly, Microsoft is well aware of the fact that only about 10% of its software is actually purchased and the other 90% is pirated; they have no choice but to stay in the Chinese market. Indeed, at the World Economic Forum, Bill Gates seemed more optimistic about the Chinese economy than the American economy.
China contiues to develop at a frantic pace. They add 4 to 6 million cell phone subscribers every month - over a year they would be adding as many as the entire cell phone market of Germany. The Chinese are adding infrastructure every month that is the equivalent of a Houston, Texas. They are in fact lifting more people out of poverty than any country in the history of the world. We can all applaud their achievements.
While I was reading this book, I kept thinking this is good news for China, bad news for the US. This book should be read by those who are concerned about America's place in the 21st century, because it might well be known as the Chinese Century. China, too, faces some daunting challenges but they seem to have the edge in optimism and dynamism - that which America had at the beginning of the 20th century.China, Inc.: How the Rise of the Next Superpower Challenges America and the World Overview

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The Writing on the Wall: China and the West in the 21st Century Review

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The Writing on the Wall: China and the West in the 21st Century ReviewThis is a superb book with a frustrating flaw. Its excellence is the clarity and informed analysis focused on the convincing thesis that the strength of the West, in contrast to China, lies in its public institutions. These are companies, judicial systems, parliaments, and the press which came into their own at the time of the enlightenment. The frustrating flaw is that Will Hutton refuses to acknowledge the context and people behind these enlightenment institutions: Christianity and Christians. He ably explains other factors such as trade which brought about enlightenment values, but strangely ignores the Christian faith. Yet the enlightenment happened in Christian countries, and her pioneer was not Hume or Diderot, but Luther who put individual conscience before the authority of the clergy. And those thinkers who were critical of Christianity, still operated in a Christian moral system. Enlightenment values did not descend from the sky, but grew out of soil soaked in the teachings of Jesus Christ. And it was Christians who usually made enlightenment values such as accountability and the rule of law a reality. So Victorian Britain's public institutions which fuelled so much of the West's success in the 19th C were often led by devout Christians. It is now more so in America where Christians have a massive influence on these public institutions. All of this does not exist for the author who then compounds this oversight by arguing that Evangelicals in the US are anti enlightenment. This is regrettable. The author himself says that the four pillars of enlightenment are accountability, representativeness, the rule of law, and free speech. Where do many Americans learn these values? In the church, so the Baptist pastor is only one church meeting away from losing his job. And this author is somehow implying he does not know about accountability! There is nothing anti enlightenment about evangelical Christianity especially in America. Indeed many would argue that America's success is rooted in the fusion of the enlightenment with Christianity. The author's odd refusal to seriously treat with Christianity also scars his analysis of China. Quite rightly he believes the way ahead for China and its relations with the world is for the country to develop enlightenment public institutions. But his tone is wishful pleading. If he had taken Christianity seriously he would have appreciated the fact that China now has the largest church in the world (estimates vary from 30 to 150 million) and these Christians have learned in the most painful environment of persecution the values of accountability and other `enlightenment' morals. The success of the West began to happen when thousands of Christians were freed from the intellectual claustrophobia of Roman Catholicism, the thesis of Protestantism and the rise of capitalism still has merit. The same can happen in China. Let the West campaign to free those millions of Christians from the claustrophobia of communism, let their meetings become the norm in the public sphere, and soon you would have flourishing enlightenment public institutions which would enrich both China and the West. There is much to learn from Will Hutton, but be warned that he has not taken into account the most fundamental aspect of the West's success: Christianity. He has one chapter entitled, `It's the Enlightenment, Stupid', but he is wrong: `It's the Christian Enlightenment, Stupid.'The Writing on the Wall: China and the West in the 21st Century Overview

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The Making of the State Enterprise System in Modern China: The Dynamics of Institutional Change Review

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The Making of the State Enterprise System in Modern China: The Dynamics of Institutional Change ReviewDr. Morris Bian knocks his book out of the park with never before seen research crucial to unlocking secrets of the Chinese work unit -- something that is still prevalent today. Anyone looking to explore the Chinese State Enterprise system could not find better source material than Bian's book.The Making of the State Enterprise System in Modern China: The Dynamics of Institutional Change Overview

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Awakening Giants, Feet of Clay: Assessing the Economic Rise of China and India Review

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Awakening Giants, Feet of Clay: Assessing the Economic Rise of China and India ReviewThis review first appeared on DayOnBay.ca"Although both China and India have done much better in the past quarter century than they did in the past two hundred years in the matter of economic growth, and although both polities have shown a remarkable degree of resilience in their own ways, one should not underestimate their structural weaknesses and the social and political uncertainties that cloud the horizon for these two countries. It will indeed be a sign of "vain perplexity" to pronounce judgment on how and when these clouds will clear." (pg 159)
In order to present a picture of India and China that is more accurate than the idealistic view often peddled in the financial press, Pranhab Bardhan in his book Awakening Giants, Feet of Clay: Assessing the Economic Rise of India and China calls upon the vast amount of academic literature written about the countries to prove that there are a number of structural and institutional problems (mostly economic) that are inhibiting growth in these countries. In comparing India and China, which are sure to drive global economic growth in the years to come, Bardhan presents two countries at very different stages in their development, which must tackle a number of similar problems, as well as a number of problems unique to each country.
Contrary to the "myths popular in the media and parts of academia that have accumulated around the significant economic achievements of the two countries," Bardhan looks at a variety of shortcomings in India and China in relation to the following: economic growth, agriculture, infrastructure, the financial sector, the operation of free markets, poverty and inequality, the public sector, and finally, the environment. Awakening Giants, Feet of Clay assumes that readers have considerable prior knowledge of economics; this is clear when phrases such as "gini coefficient" and "dynamic competitive advantage" are used with no explanation.
Findings
Bardhan focuses on the last twenty-five years in comparing the economies and structural issues of India and China. What emerges from his work is a picture of a relatively vibrant and dynamic Chinese economy compared to a sluggish India. What is surprising, however, is the fact that this difference can in many ways be accounted for by the fact that China, a communist country, embodies free-market principles such as competition more so than India does, especially in its governance.
Some early instances of China encouraging competition and using incentives to spur economic growth can be found in the proliferation of Township Village Enterprises (TVEs) in the 1980s and 1990s which helped spur industrialization in rural areas. Controlled by local governments, these enterprises effectively responded to incentives presented in a market economy without privatizing ownership. These institutions, until their privatization in the mid-1990s, were not backed by the state (whereas State Owned Enterprises were), so they encouraged regional competition between TVEs. This notion of regional competition for public sector entities pervades throughout Chinese government. For example, the Communist Party of China (CPC) builds in career incentives (i.e., advancement within the CPC) for local officials based on interregional competition. As well, the CPC encourages institutional experimentation on a regional level, so that innovative ideas can be extended into other regions. In contrast, Indian bureaucrats at a regional level often only serve for short periods of time, and generally shy away from `rocking the boat' because they are unlikely to reap benefits if a project succeeds, and will face blame if it fails. As well, regional experimentation in India is low because local governments would face great pressure from the electorate to bail out unsuccessful projects.
"China's progress in building highways has been simply phenomenal. In 1988, China had barely one hundred kilometers of expressways; within ten years, the total length of China's expressways had become second only to that of the United States, and rose to 60 thousand kilometres by 2009." (pg 57)
A key indicator of future growth and competitiveness is the infrastructure of a country; in this regard, China eclipses India in a number of areas. For one, the generation, transmission, and distribution of power in China have kept pace with economic growth. On the other hand, severe underpricing and power theft in India have led state-owned power firms to suffer enormous financial losses; as a result, the cost of power to manufacturers in India is upwards of 35% more expensive than in China. The same can be seen in urban infrastructure where, because of political pressure to keep user charges on water/sewage/waste low, "India is ill-equipped to cope with the already mounting demands arising from urban growth". However, the author does note that in one critical area of infrastructure, telecommunications, India enjoys a cost advantage over China. This occurs because of the vigorous private sector in this space, and speaks to the potential for privatization to help solve India's infrastructure problems.
Particularly relevant to those interested in finance, Bardhan, in one of his best chapters, compares the state of the financial markets in the two countries; in this regard, India is seen as much farther ahead than China. The author contrasts the successful National Stock Exchange (NSE) of India (the third largest stock exchange in the world by number of transactions) with Chinese equity markets (highly speculative and suffering from rampant insider trading). Bardhan concludes that India's system is more balanced compared to China's, where "allocation of capital remains severely distorted, particularly working against private enterprise".
Awakening Giants, Feet of Clay also raises the alarm on the environmental problems which both countries are facing. In a fascinating chapter, Bardhan points out that environmental performance scores for India and China are "significantly worse than the average scores in their respective income group of countries". Even more alarming is the fact that according to the World Health Organization, air pollution can be attributed to 500,000 premature deaths in India and even more in China. Unsurprisingly, it appears both of these countries are investing in green energy (e.g., China has surpassed the US in terms of installation of wind turbines).
Evaluation
Awakening Giants, Feet of Clay accomplishes exactly what it sets out to do - provide readers with a sense of how these two emerging economies have developed, and what structural/institutional problems they must overcome to continue this development. Bardhan is able to draw upon a vast array of academic literature and use complementary graphs in a way that is accessible to readers who know little about either country prior to reading the book.
Bardhan paints a realistic picture of these two emerging economies, a picture that is often skimmed over by the financial press. By highlighting a number of severe problems in these economies, problems which could impede growth in the years ahead, the book serves as a warning for any investors who believe that "this time is different" in these two emerging markets. After reading this book it is likely one will be able to better understand pieces in the financial press written about India and China, and better yet, understand what overly optimistic authors tend to not mention about these countries.
In terms of writing style, Bardhan is academic and to-the-point, with occasional moments of flair to keep the book interesting. At the end of each chapter the author summarizes what was said, which reinforces the book's key arguments.
What is disappointing in some respects is the way in which Bardhan concludes the book. The chapter entitled "Looking to the Future: Through the Lens of Political Economy" shines in a lot of ways (e.g., the discussion of communism vs. democracy in India and China's developments) but feels somewhat incomplete. Bardhan's focus in the final chapter is largely on the political aspects of these countries, rather than economic ones, which may leave readers thirsting for a more economic evaluation of these two countries' futures. Given the preceding chapters, which equip readers with a solid understanding of the economic issues facing these countries, Bardhan should have used his conclusion to draw upon what readers have learnt to predict the economic future of these countries.
Overall, the book is excellent. For those interested in learning about the two economies that are sure to take centre stage in the 21st century, Awakening Giants, Feet of Clay is a phenomenal starting point. While the author admits that the book "does not represent new frontiers of research," it successfully brings the vast swathe of academic literature about these countries together to paint a clear picture of India and China's economic development.Visit DayOnBay.ca for more reviews of books about finance and economics.Awakening Giants, Feet of Clay: Assessing the Economic Rise of China and India Overview

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China's Rise and the Two Koreas: Politics, Economics, Security Review

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China's Rise and the Two Koreas: Politics, Economics, Security ReviewI read the book and thought that the Chinese were stupid.... I then went to China and found out how smart they really are. They stole all the best western ideas. The North Koreans are in the stone age, and China is distancing themselves from them. Finally, the Koreas need to re-unite. The most positive thing is that we(the USA)get to go home.China's Rise and the Two Koreas: Politics, Economics, Security Overview

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