❤️ loved this book because...
There is a huge amount written about the "Chinese economic miracle", often by outsiders who perhaps do not have a first-hand, intimate understanding of the way that society and polity works. This book doesn't suffer from those flaws and presents a unique understanding of the structures of, and interactions between the state, business and society in that country. Jin shows how it is the creative interplay between centralization and decentralization, and the learning by experimentation, feedback and evolution which explain the dynamic driving the Chinese economy. She traces this structure back to the ancient Chinese bureaucratic tradition of "lines and blocks", which allowed central government to convey directions to the smallest administrative unit.
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Financial Times Best Summer Books of 2023
'Essential reading' Tony Blair
A revelatory, myth-dispelling exploration of China's juggernaut economy
Although China's economy is one of the largest in the world, Western understanding of it is often based on dated assumptions and incomplete information. In The New China Playbook, Keyu Jin burrows deep into the mechanisms of a unique system, taking a nuanced, clear-eyed, and data-based look inside. From the far-reaching and unexpected consequences of China's one-child policy to the government's complex relationship with entrepreneurs, from its boisterous financial system to its latest push for technological innovation, Jin reveals the frequently…