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"No one knows the Chinese economy better than Justin Lin, and there's no one better placed to describe its essential workings. A unique perspective on the Chinese miracle from a unique perch." - Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley
"Justin Lin's Demystifying the Chinese Economy is a tour de force. The book succeeds at many levels. It presents a broad historical perspective over two millennia of the rise, fall, and the dramatic resurgence of Chinese economic power. It presents an analytically informative study of the sources of Chinese economic growth and the prospects of growth for the future. Lin formalizes the successful pragmatic Chinese approach to economic development using his insightful notion of 'Comparative Advantage Following (CAF)' strategies. The book challenges many tenets of conventional neoclassical theory and shows how naive application of many of its principles had catastrophic consequences for many transition economies." - James J Heckman, Henry Schultz Distinguished Service Professor of Economics, 2000 Nobel Prize in Economics, University of Chicago
"This book considers fundamental questions about the great transformation of China from a poor underdeveloped country to a global leader in modern economic growth. These are among the most important questions of our time, and Justin Lin has the best credentials to help us understand them. In this book, he offers a new and important perspective on the conditions for modern economic development in China and the world." - Roger Myerson, Glen A. Lloyd Distinguished Service Professor of Economics, 2007 Nobel Prize in Economics, University of Chicago
"This clear and insightful study of the origins of China's failures and, finally, its extraordinary success will be must-reading for anyone who wants to understand Chinese development. An important book and much overdue." - Edmund S. Phelps, McVickar Professor of Political Economy, 2006 Nobel Prize in Economics, Columbia University
"This is the best book on China's economy that I've read..." -James Pressley, Bloomberg
"...[one of] five recent titles from the Letter from China bookshelf that are surprising or entertaining or useful...when the history of China's economic boom is written, Lin's will be one of the clearest cases in defense of the Chinese way." -Evan Osnos, New Yorker.com
Justin Yifu Lin provides an insightful account of why China was so advanced in pre-modern times, what caused it to become so poor, how it grew into a market economy, where its potential is for growth and what reforms are needed to complete the transition to a well-functioning market economy.See all Editorial Reviews