China

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Long considered an overpopulated, repressive, backward country, China has in the last decade entered the small circle of advanced industrial nations. Economic reform, more than any other factor, is responsible for this progress, maintains William H. Overholt in this provocative book. In the 1980s, embracing capitalism to an increasing degree, China's economy grew at a rate of 9.5 percent. In 1992 it grew 12.8 percent, rising to 13.4 percent in 1993. Cumulatively, this is the greatest sustained growth in human history. Even if it slows substantially, it is likely to surpass the economy of the United States early in the twenty-first century. This book is an account of China's remarkable growth, told authoritatively and in unique detail by a close and astute observer.