As tensions between China and the US continue to rise, HANNAH SELL reviews a recent book by former Bloomberg economist Thomas Orlik, looking at the character of China and perspectives for its economy.
China: The Bubble That Never Pops
By Thomas Orlik
Published by Oxford University Press, 2020, £23
Unlike many other aspects of US foreign policy, Biden’s election has not led to a fundamental change in direction when it comes to China. However, instead of Trump’s quixotic and inconsistent unilateral ramping up of tensions, Biden is attempting to build a coalition of global powers behind US imperialism, with the aim of putting up a firewall against the further rise of China.
Is that possible? What are the limits to the continued rise of China? One of the most useful recent books on the Chinese economy is Thomas Orlik’s China: The Bubble That Never Pops. Previously based in China for eleven years as Chief Asia Economist for Bloomberg, his book – while not written from a socialist point of view but that of Western capitalism – still provides a useful picture of the contradictory character of China, and how it relates to China’s economic growth in the past and, to some extent, the future.
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