How China Escaped the Poverty Trap (Cornell Studies in Political Economy)

How China Escaped the Poverty Trap is a groundbreaking book that offers a new paradigm for understanding socio-economic development.

Written by Yuen Yuen Ang, this book challenges traditional assumptions about growth and institution-building, and provides a comprehensive analysis of China's rise to global prominence. The author rejects the conventional wisdom that economic growth must be stimulated first, or that good institutions are necessary for development.

Instead, she argues that innovation and adaptability are key to escaping poverty traps.

Ang draws on over 400 interviews with Chinese bureaucrats and entrepreneurs to provide a systematic account of how China transformed itself from a communist backwater into a global economic powerhouse in just 35 years. The book offers two broad lessons on development: first, the importance of top-down directions from Beijing paired with bottom-up improvisation among local officials; and second, the need to embrace complexity and adaptability in order to overcome poverty traps. With its innovative approach and groundbreaking insights, How China Escaped the Poverty Trap is a must-read for anyone interested in understanding the complexities of socio-economic development.

Whether you are a student, researcher, or policymaker, this book will provide you with a new perspective on how to escape poverty traps and achieve sustainable growth.