China Fever

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Many Western Observers believe that China's economic liberalization will inevitably lead to its democratization.

Economist Frank S. Fang, director of Chicago's Institutional Economics Center, thinks otherwise. In a must-read for anyone interested in what's to come in the "American-Chinese Century," Fang details why the U.S. must deal with China on China's own terms or risk embroiling itself in a political and strategic quagmire. Presenting a massive amount of up-to-date business data in an easy-to-follow manner, Fang, who has studied and worked as a consultant in both China and the U.S., offers an insider's look at the fundamental "on the ground" issues faced by China and the West, highlighting the cultural basis for China's ideological conflicts with America and using case studies in business, economics, and politics to explain China's rapid growth and international influence. Fang demonstrates why China will never adopt Western-style democracy and why the Chinese challenge to America is on a much more fundamental "state model" level.

Frank S. Fang, an economist, is the director of the Institutional Economics Center (www.iecenter.org), an independent research organization based in Chicago.