An FT SUMMER READ 2020

The forces of globalization have transformed the world economically, but in the West politics is becoming increasingly fractured as living standards stagnate for all but the very wealthy. As a result, alienation and nationalism are on the rise. China, in the meantime, has become the most powerful economy in the world from the same forces of globalization which have imprisoned the west. Here, Grzegorz W. Kolodko parses the economic system in China and brings his uniquely clear and far sighted analysis to bear on the global economy. Through a qualitative and extensive quantitative economic analysis of the global economy, and it's tilt towards Asia, Kolodko offers prescriptions on how the west can learn from China's approach, and make globalization work for citizens once more. An essential book for scholars and students of political economy, from one of the West's most authoritative scholars and practitioners.

Translated by Joanna Luczak

List of diagrams List of maps List of tables Initial reflections Chapter One: Economy and security 1. Cold War Two 2. Cascade of threats 3. Technology and politics Chapter Two: The century of Asia with China leading the way? 1. A country in the middle of Asia 2. New Silk Road instead of exporting revolution 3. Nobody likes a hard landing Chapter Three: People and goods in the changing world 1. Between a demographic explosion and a population deficit 2. How long, how fast? 3. Where is the East, where is the West? 4. Myth of the free market being perfect Chapter Four: Socialism, capitalism or Chinism? 1. Economy - society - state 2. In search of equilibrium 3. Socialism with Chinese characteristics or corrupt crony capitalism? 4. Whither China and what business is it to others 5. Tertium datur Chapter Five: Recipe for crisis 1. At the expense of many for the benefit of few 2. Legally but immorally Chapter Six: What do the Chinese ask about? 1. Right questions at the right time 2. What students want to know 3. Chinese panoply of questions Chapter Seven: New pragmatism with Chinese characteristics 1. Vision rather than illusions 2. 16+1 initiative 3. China coming to our rescue? Final reflections References Index