Branko Milanovic Profile picture
Dec 21, 2020 10 tweets 2 min read Read on X
Here is (for whoever may be interested) the list of books on China that I have read in the past 5-6 years;
in no particular order, with my assessments: 5 stars is the best, 2 the worst.
Books I reviewed on my blog are noted with ++.
John Palmer, The death of Mao, Faber & Faber, 2012 **
Jonathan Fenby, Will China dominate the 21st century, Polity, 2014 ***
Quan Yanchi, Mao: Man, not God ***
Jacques Gernet, Daily life in China on the Eve of Mongol Invasion 1250-76, Stanford UP, 1962. ****
++Giovanni Arrighi, Adam Smith in Beijing: Lineages of the 21st Century, Verso, 2007. *****
Minxin Pei, China’s crony capitalism, Harvard UP, 2016. ****
Minxin Pei, China’s Trapped Transition, Harvard UP, 2006. ***
++Martin Jacques, When China rules the world, Penguin, 2012. *****
Cheng Li, Chinese politics in the Xi Jinping era, Brookings, 2016. ***
++Julian Gewirtz, Unlikely Partners Chinese Reformers, Western Economists, and the Making of Global China, Harvard 2017. ****
Zhao Ziyang, Prisoner of the state, Simon and Schuster, 2009. ****
++Wang fan-hsi, Memoirs of a Chinese Revolutionary, Columbia UP, 1991. *****
++Kenneth Pomeranz, The Great Divergence, Princeton UP, 2000. *****
Alan Wood, Limits to Autocracy: From Sung Neo-Confucianism to a Doctrine of Political. Rights, 1995. ***
Xie Chuntao, Fighting corruption: how CPC works. 2016. ****
Wu Guoyou, The period of Den Xiaoping’s reformation ***
Chung li-Chang, Income of the Chinese Gentry, 1962. ***
++Henry Kissinger, On China, Penguin, 2011. *****
Chi Hsin, Teng Hsiao-ping: A political biography, Cosmos Books, 1978. **
Wang Hui, China’s New Order, ed Theodore Huters, Harvard, 2003. **
++Jean-Pierre Cabestan, Demain la Chine: démocratie ou dictature?, Gallimard, 2019. ***
++Ho-fung Hung, The China Boom: Why China will not rule the world, Columbia UP, 2017. *****
++Robert Bickers, Out of China: How the Chinese ended... Western domination, Penguin, 2017. ****
++Richard McGregor, Asia’s Reckoning: China, Japan & the Fate of US Power..." 2017 ***
Isabella Weber, How China Escaped Shock Therapy, Routeledge, 2019.***
++Yuen Yuen Ang, China’s Gilded Age, 2020. Cambridge UP, ****
Joanna Waley Cohen, The sextants of Beijing, W. W. Norton and Co., 1999 ****

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More from @BrankoMilan

Nov 21
Consider income composition in socialism and developed capitalism. They are fairly similar. The differences are in the lack of income from K, greater family-related transfers, and quasi-absence of direct taxes (other than proportional flat wage taxes) in socialism. Image
Then extremely low skill premium of 3-5% vs 18-70% for West European countries (and even more in the US). Image
Then, much less redistributive social transfers. While UK/Ireland had very pro-poor transfers, socialist countries had flat transfers. Thransfers depended on family composition and were about the same regardless of underlying income. Image
Read 4 tweets
Nov 21
This is the second year that in my teaching I spend two hours discussing income inequality under socialism, the way it was, not normative stuff. The most important thing is to tell students that socialism is not capitalism with less inequality. The logic of the system was entirely different.
The salient points.
Nationalization of capital & end of incomes from K reduces inequality directly.
Wage compression: very low skill premium. Explained both by free schooling and ideological preference for less skilled workers.
Relatively large (but not larger than in modern capitalism) social transfers directed toward families and old-age persons.
Large but almost totally flat direct taxes, mostly in the for of a wage tax.
Read 5 tweets
Oct 19
After reading @pseudoerasmus excellent thread on the evolution of devt thinking and the role of institutions and @ingridharvold, Kesar, Dutt paper on the same topic (both published within the past 48 hours) I asked myself the following Q: Why did I like AJR early work so much & then lost interest?
I liked both their "Origins.." and "Reversal..". The reason is that I found in these papers the themes with which I was already familiar from reading neo-Marxist literature, including S Amin and G Arrighi. But I always felt dissatisfaction with that literature's "sporadic" use of empirical evidence.
What AJR provided was the same story with much more data and modern methodology. So it was a big step forward.
The problems started afterwards: their inability to explain communism (political inequality but economic equality), and the turn away from understanding of capitalism
Read 8 tweets
Aug 21
15 reviews of books on neoliberalism:
Karl Polanyi, The Great Transformation

Clinton Fernandes, Subimperial Power
branko2f7.substack.com/p/living-throu…
branko2f7.substack.com/p/powerful-but…
Krishnan Nayar, Liberal Capitalist Democracy

Peter Turchin, The End Times
branko2f7.substack.com/p/capitalism-u…
branko2f7.substack.com/p/the-chronicl…
Fritz Bartels, The Triumph of Broken Promises

Jamie Martin, The Meddlers
branko2f7.substack.com/p/western-mone…
foreignaffairs.com/reviews/review…
Read 9 tweets
May 7
We shall never know if the Chinese embassy in Belgrade was intentionally targeted or not.
Here are some arguments why I find accidental bombing highly unlikely.
-This was the only building targeting mistake in 78 days of very precise bombing.
-The ostensible target was a financial institution (bank giving loans, for, among other things, old SRFY's sales of armament). But that bank no longer worked; Serbia was bankrupt; it was not giving loans to anyone.

-It is the only fin institution having been ostensibly targeted.
-The Chinese emb & the Bank 2 very different buildings. Not only when you face them. Even if you have a 2-dimensional map, emb was facing, at an angle, towards the river, a solitary building w/a fence. The bank is 150m away across a 6-lane highway, adjoining another building.
Read 8 tweets
Apr 14
In 1974, it made sense to speak of the Three Worlds, as among themselves, and treating China that never belonged to the Third World apart, they accounted for 98% of world GDP (in PPP terms).
Capitalist core 62%
Socialist countries 13%
Third World 24%
China 2% Image
But now we have a different situation. The capitalist core has shrunk despite its geographical extension to E Europe. The socialist world has disappeared. The 3rd world is more important thanks to the rise of Asia.
Core 44%
China 22%
Politically heterogen. periphery 31%
RUS 3%
In political sense, we have a unified West with 44%, China with ½ of that amount, politically heterogeneous periphery with almost 1/3 of global GDP (but its political power is low because of that heterogeneity) and Russia that is obviously trying to punch above its weight.
Read 5 tweets

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