Few observers are unimpressed by the economic ambition of China or by the nation's remarkable rate of growth. But what does the future hold? This meticulously researched book closely examines the strengths and weaknesses of the Chinese economic system to discover where the nation may be headed and what the Chinese experience reveals about emerging market economies. The authors find that contrary to popular belief, cutting edge innovation is not a prerequisite for sustained economic vitality—and that China is a perfect case in point.

Dan Breznitz is an associate professor at the Sam Nunn School of International Affairs and the College of Management, and an associate professor by courtesy at the School of Public Policy at Georgia Institute of Technology. He is author of the award-winning book Innovation and the State, published by Yale University Press, and a Sloan Foundation Industry Studies Fellow. He lives in Atlanta. Michael Murphree is a project coordinator at the Sam Nunn School of International Affairs at the Georgia Institute of Technology. He lives in Atlanta.