Hung, Ho-fung: "The China Boom: Why China Will Not Rule the World."(Book review)

• Author: Stapleton, Kristin

Hung, Ho-fung. The China Boom: Why China Will Not Rule the World. New York: Columbia University Press, 2016.

Ho-fung Hung, a sociologist with a keen interest in comparative history, aims in this study to both dash hopes and calm fears that China is transforming the capitalist world order in radical directions. China supports the status quo, he argues, and "is a key force in helping perpetuate U.S. global dominance" (173). As a concise, incisive, and provocative introduction to the history and contemporary state of the Chinese economic system, this book is invaluable, particularly for students and newcomers to the field. Even those familiar with the arguments Hung presents, though, will appreciate the clarity and fairness with which he dissects debates on China's role in the global political economy.

An introduction sets out Hung's twin goals of explaining the development of capitalism in China and assessing the nature and extent of its impact on the world. Hung argues that, more than simply a market economy, a capitalist system requires a cultural drive to accumulate material wealth and institutions that encourage this drive. The history of markets in China...