Yasheng Huang is the Epoch Foundation Professor of Global Economics and Management at the MIT Sloan School of Management. He is the author of 12 books in Chinese and English, two of which have been selected as a Best Book of the Year, Foreign Affairs in 2023 and Economist in 2008. He is the recipient of the Sloan Foundation Grant, Woodrow Wilson Fellowship, SSRC-MacArthur Fellowship, US Institute of Peace Grant, and the Hoover Fellowship.

• 1. A treadmill of reforms; 2. The true China miracle; 3. A tale of two decades; 4. What is wrong with Shanghai, and with its model?; 5. The state strikes back: the era of statism; 6. Statism with Chinese characteristics.

'Huang powerfully argues that much of what we are told about Chinese economic growth is wrong. The origins of the tremendous success lie not in government-directed industrial investments, but in rural reforms. It wasn't top-down expert policymaking from the Chinese Communist Party, but bottom-up initiatives that elites allowed (or couldn't stop) that were most important. And the future isn't as bright as scores of China enthusiasts are claiming, despite huge investments in AI. This is a must-read book for everybody interested in China and the global economy, and it will be challenging to many.' Daron Acemoglu, Institute Professor at MIT and the 2024 Nobel Laureate in Economics

Yasheng Huang is the Epoch Foundation Professor of Global Economics and Management at the MIT Sloan School of Management. He is the author of 12 books in Chinese and English, two of which have been selected as a Best Book of the Year, Foreign Affairs in 2023 and Economist in 2008. He is the recipient of the Sloan Foundation Grant, Woodrow Wilson Fellowship, SSRC-MacArthur Fellowship, US Institute of Peace Grant, and the Hoover Fellowship.

• 1. A treadmill of reforms; 2. The true China miracle; 3. A tale of two decades; 4. What is wrong with Shanghai, and with its model?; 5. The state strikes back: the era of statism; 6. Statism with Chinese characteristics.

'Huang powerfully argues that much of what we are told about Chinese economic growth is wrong. The origins of the tremendous success lie not in government-directed industrial investments, but in rural reforms. It wasn't top-down expert policymaking from the Chinese Communist Party, but bottom-up initiatives that elites allowed (or couldn't stop) that were most important. And the future isn't as bright as scores of China enthusiasts are claiming, despite huge investments in AI. This is a must-read book for everybody interested in China and the global economy, and it will be challenging to many.' Daron Acemoglu, Institute Professor at MIT and the 2024 Nobel Laureate in Economics

Yasheng Huang is the Epoch Foundation Professor of Global Economics and Management at the MIT Sloan School of Management. He is the author of 12 books in Chinese and English, two of which have been selected as a Best Book of the Year, Foreign Affairs in 2023 and Economist in 2008. He is the recipient of the Sloan Foundation Grant, Woodrow Wilson Fellowship, SSRC-MacArthur Fellowship, US Institute of Peace Grant, and the Hoover Fellowship.

• 1. A treadmill of reforms; 2. The true China miracle; 3. A tale of two decades; 4. What is wrong with Shanghai, and with its model?; 5. The state strikes back: the era of statism; 6. Statism with Chinese characteristics.

'Huang powerfully argues that much of what we are told about Chinese economic growth is wrong. The origins of the tremendous success lie not in government-directed industrial investments, but in rural reforms. It wasn't top-down expert policymaking from the Chinese Communist Party, but bottom-up initiatives that elites allowed (or couldn't stop) that were most important. And the future isn't as bright as scores of China enthusiasts are claiming, despite huge investments in AI. This is a must-read book for everybody interested in China and the global economy, and it will be challenging to many.' Daron Acemoglu, Institute Professor at MIT and the 2024 Nobel Laureate in Economics