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China in the Global Political Economy

From Developmental to Entrepreneurial Gordon C.K. Cheung, School of Government and International Affairs, Durham University, UK
Is the US losing its economic authority to China, whose global economic identity is being determined more by entrepreneurial spirit than developmental principle? Through the exercise of soft power and hard currency in some areas of the global economy, China has clear national interest in the protection of intellectual property rights, financial integration and sovereign wealth funds. China’s Belt and Road Initiative and the Asian Infrastructure Investment Bank will set new standard to global economic development.
Extent: c 208 pp
Hardback Price: $115.00 Web: $103.50
Publication Date: May 2018
ISBN: 978 1 78471 490 1
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  • Asian Studies
  • Asian Politics and Policy
  • Politics and Public Policy
  • Asian Politics
  • International Relations
  • Political Economy
Is the United States ceding its economic power to China? In this compelling book, Gordon C.K. Cheung scrutinizes this key question and China’s complex relations with the global economy through theoretical exploration as well as empirical studies. Using innovative concepts, the author demonstrates that China’s economic identity is now heavily influenced by the growth in its entrepreneurial spirit.

Critically questioning the ebbing authority of the US in the East Asian region, the author identifies how China’s exercise of soft power not only appeals to East Asian historical tradition, but has also begun to translate into tangible economic benefits. The author evaluates how China’s future economic competitiveness in the global economy will be tested in areas of national interest: the protection of intellectual property rights, financial integration, and the role of China’s sovereign wealth funds. China’s two grand ambitions, the Belt and Road Initiative and the Asian Infrastructure Investment Bank, are also discussed – both of enormous significance to the future of global economic development.

With strong empirical evidence and a fresh perspective on China’s development, this book will be of great interest to postgraduate students of economics, international relations, business and globalization, as well as scholars and policy makers interested in China’s international influence.
‘This is a fascinating book that goes well beyond the conventional academic debates and focuses a great deal on China’s political-economic development in the past 10-15 years. It’s written in a highly accessible manner and filled with very timely information or evidence from the author’s original fieldwork and useful secondary sources. I am particularly impressed by the wide-ranging issues covered in this very readable book, from China’s massive industrial transformation and domestic entrepreneurship to more recent phenomena such as innovation, financialization, and globalization. It helps us understand far better China’s rise in the new global economy than many highly specialized monographs on China’s economic transformation.’
– Henry Wai-chung Yeung, Global Production Networks Centre, National University of Singapore

‘Anyone trying to make sense of China's transformative impact on the global economy needs to read Gordon Cheung's timely and accessible analysis of its rise and growing influence.’
– Mark Beeson, The University of Western Australia
Contents: Preface PART 1 INTRODUCTION 1. China’s economic transformation in a changing world PART II PERSPECTIVES AND DEVELOPMENT 2. From hegemonic decline to regional interdependence: shifting economic paradigm 3. From peaceful rise to soft power: the manufacturing of attractiveness 4. From developmental to entrepreneurial: varieties of political economy PART III NEW GLOBAL ECONOMIC FOOTPRINTS 5. Innovation protection and the significance of intellectual property rights 6. Crisis resolution and the global financial competition 7. Global inequality, sovereign wealth funds and China’s ‘go out’ enterprises PART IV CONCLUSION 8. Globalization, resistance and assimilation References Index