This is a study of the long-run evolution of the relationship between China and the world economy. The book presents an original interpretation of the country's socio-economic processes in the past 150 years, focusing on China's interaction with the expanding capitalist world economy. The author argues that the general thrust of China's quest for development or 'modernization' has been to catch up with the wealthy nations of the West, and goes on to explain the changing paths and outcomes. The book proceeds chronologically from China's mid-nineteenth-century incorporation to the world...

The Asian road to the market has generally been seen as a model of success and the object of widespread admiration. But even in countries experiencing sustained growth, there have been unmistakable signs of deep social strain. This book evaluates the experience and debunks widespread myths about Asian growth. It does so by identifying the link between alternative transition models, public policies and household responses on the one hand, and key welfare changes on the other.