The Making of an Economic Superpower: Unlocking China's Secret of Rapid Industrialization By Yi Wen Hardcover 9814733725 9789814733724 The Making of an Economic Superpower: Unlocking Chinas Secret of Rapid Industrialization The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining Chinas rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain Chinas growth miracle and why the determined rise of China is unstoppable despite its current backward financial system and political institutions. Conversely, Chinas spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream blackboard economic models, and provides accurate reevaluations of historical episodes such as Africas enduring poverty trap despite radical political and economic reforms, Latin Americas lost decades and frequent debt crises, 19th century Europes great escape from the Malthusian trap, and the Industrial Revolution itself.

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Japan and UK He comes to some interesting conclusion based on these observation predicts china economic development and rise to biggest superpower in future is almost inevitable because it followed the right sequence of steps for industrialisation gives recipe on how any developing country like India can become rich by following sequential development stages of industrial revolution instead of adopting laissez faire free market principles Technological Knowledge and innovation are mostly tacit knowledge and this kind of knowledge can be learned only by doing Learning to Build and solve core technical problems even by copying from developed nations opens door for knowledge creation and innovation in the long term This book is a Hidden Gem and definitely deserves attention I think China has built a lot of tactical knowledge in manufacturing and will likely innovate way in future especially in advanced manufacturing electric cars etc English

The Making of an Economic Superpower: Unlocking China's Secret of Rapid Industrialization By Yi Wen

9814733725

9789814733724

English

336

Hardcover

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The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution Mainstream economics.

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Good book but was a difficult read because of how dry it is I almost quit reading several times It gave me a different perspective of how a mature economy is formed the sequence market market creators role of gov or merchants etc The book was very high level and abstract which made it difficult to get engaged I am glad I perservered and finished the book because I learned a lot and gained many new perspectives English This book has amazing insights that challenges many existing theories on development Prof Yi Wen makes a very convincing case on how China s industrial revolution was very similar to US especially the institutional theory of economic development based on a dichotomy of extractive vs inclusive political institutions is highly inadequate in explaining China s rise This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West as incorrectly portrayed by the institutional theory can fully explain China s growth miracle and why the determined rise of China is unstoppable despite its current backward financial system and political institutions Conversely China s spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream blackboard economic models and provides accurate reevaluations of historical episodes such as Africa s enduring poverty trap despite radical political and economic reforms Latin America s lost decades and frequent debt crises 19th century Europe s great escape from the Malthusian trap and the Industrial Revolution itself The Making of an Economic Superpower Unlocking China s Secret of Rapid Industrialization.