The Third Revolution

In The Third Revolution, eminent China scholar Elizabeth C. Economy provides an incisive look at the transformative changes underway in China today. Chinese leader Xi Jinping has unleashed a powerful set of political and economic reforms: the centralization of power under Xi, himself, the expansion of the Communist Party's role in Chinese political, social, and economic life, and the construction of a virtual wall of regulations to control more closely theexchange of ideas and capital between China and the outside world. Beyond its borders, Beijing has recast itself as a great power, seeking to reclaim its past glory and to create a system of international normsthat better serves its more ambitious geostrategic objectives. In so doing, the Chinese leadership is reversing the trends toward greater political and economic opening, as well as the low-profile foreign policy, that had been put in motion by Deng Xiaoping's "Second Revolution" thirty years earlier. Through a wide-ranging exploration of Xi Jinping's top political, economic and foreign policy priorities-fighting corruption, managing the Internet, reforming the state-ownedenterprise sector, improving the country's innovation capacity, enhancing air quality, and elevating China's presence on the global stage-Economy identifies the tensions, shortcomings, and successes ofXi's reform efforts over the course of his first five years in office. She also assesses their implications for the rest of the world, and provides recommendations for how the United States and others should navigate their relationship with this vast nation in the coming years.

“"The Third Revolution is an excellent example of high-quality academic research on China" -- Tian He, Pacific Affairs One of Politico''s "Ten Names That Matter on China Policy" "How should observers, especially those in Washington, assess Xi''s China? In The Third Revolution, Elizabeth Economy offers a nuanced, persuasive answer: while China''s heft in world affairs is growing rapidly, so too are the contradictions inherent in the attempt of an authoritarian country to shape what remains a predominantly liberal world order." -- Global Asia "Economy . . . offers an engaging look at how areas such as internet regulation, reform of state-owned enterprises, and foreign policy are evolving under Xi''s leadership." -- Reuters Breakingviews "To understand and navigate China in the coming years, this is the book to read. At the heart of doing business in this opaque and contradictory country is understanding Xi Jinping, a masterful and complex politician. Elizabeth Economy''s exceptionally clear account gives you the tools to do just that." -- Fred P. Hochberg, Former Chairman and President, Export-Import Bank of the United States "The Third Revolution is enormously valuable for anyone seeking to understand the ways in which China is changing (and not changing) under Xi''s leadership, and how the U.S. should best approach its relationship with China. Essential." -- Robert E. Rubin, Former Secretary of the Treasury "The one book that tells you all you need to know about how China has changed under Xi Jinping. A clear-eyed, richly researched, and engaging account by one of America''s most knowledgeable China experts." -- Susan L. Shirk, University of California, San Diego "Timely and sobering analysis of the profound--and disturbing--political change that has occurred since the rise of Xi Jinping. This is by far the most insightful and illuminating study of China''s new political landscape, and should be required reading for those concerned with China''s future under strongman rule." -- Minxin Pei, Author, China''s Crony Capitalism "Leading China expert Elizabeth Economy provides a clear-eyed net assessment of China under Xi Jinping: its global ambitions, domestic limitations, and the paradox of its external hubris and internal insecurities. Thoroughly researched and engagingly written, The Third Revolution should become staple reading for all who want to understand China today and where it is headed in the future. The findings are both illuminating and disturbing." -- David Shambaugh, George Washington University and author of China Goes Global "Americans are slowly realizing that they live in a bipolar world with China, a nation that is incontrovertibly rising despite the destabilizing effects of serial self-reinvention. The advent of the latest progenitor of rejuvenation, Xi Jinping, has raised a host of vexing questions, but Economy''s wonderfully lucid and well-researched book fills in many of the blanks regarding Xi''s strengths and weaknesses." -- Orville Schell, Arthur Ross Director, Asia Society Center on U.S.-China Relations "For the first time in modern history, we have a communist country poised to be the biggest and most important driver of the global free market. That''s astonishing. And we still don''t know what makes China''s political leadership and Xi Jinping in particular tick. If that freaks you out (and it should), Liz Economy''s book is the place to start." -- Ian Bremmer, President and Founder, Eurasia Group "The timing of The Third Revolution is impeccable. Economy convincingly demonstrates how Beijing has used its heft to influence technological and political standards." - The Financial Times "A work of cool-headed analysis." - Foreign Affairs "The must-read book of 2018. . . . Economy''s book traces Xi''s influence and ambitions through an exhaustive reading of his speeches as well as an astute knowledge of Chinese politics and policy. It should be required reading not just for China-watchers but for anyone interested in U.S.-China relations and the future of world order." - Bloomberg”

One of Politico's "Ten Names That Matter on China Policy""How should observers, especially those in Washington, assess Xi's China? In The Third Revolution, Elizabeth Economy offers a nuanced, persuasive answer: while China's heft in world affairs is growing rapidly, so too are the contradictions inherent in the attempt of an authoritarian country to shape what remains a predominantly liberal world order." -- Global Asia"Economy . . . offers an engaging look at how areas such as internet regulation, reform of state-owned enterprises, and foreign policy are evolving under Xi's leadership." -- Reuters Breakingviews"To understand and navigate China in the coming years, this is the book to read. At the heart of doing business in this opaque and contradictory country is understanding Xi Jinping, a masterful and complex politician. Elizabeth Economy's exceptionally clear account gives you the tools to do just that." -- Fred P. Hochberg, Former Chairman and President, Export-Import Bank of the United States"The Third Revolution is enormously valuable for anyone seeking to understand the ways in which China is changing (and not changing) under Xi's leadership, and how the U.S. should best approach its relationship with China. Essential." -- Robert E. Rubin, Former Secretary of the Treasury"The one book that tells you all you need to know about how China has changed under Xi Jinping. A clear-eyed, richly researched, and engaging account by one of America's most knowledgeable China experts." -- Susan L. Shirk, University of California, San Diego"Timely and sobering analysis of the profound--and disturbing--political change that has occurred since the rise of Xi Jinping. This is by far the most insightful and illuminating study of China's new political landscape, and should be required reading for those concerned with China's future under strongman rule." -- Minxin Pei, Author, China's Crony Capitalism"Leading China expert Elizabeth Economy provides a clear-eyed net assessment of China under Xi Jinping: its global ambitions, domestic limitations, and the paradox of its external hubris and internal insecurities. Thoroughly researched and engagingly written, The Third Revolution should become staple reading for all who want to understand China today and where it is headed in the future. The findings are both illuminating and disturbing."-- David Shambaugh, George Washington University and author of China Goes Global"Americans are slowly realizing that they live in a bipolar world with China, a nation that is incontrovertibly rising despite the destabilizing effects of serial self-reinvention. The advent of the latest progenitor of rejuvenation, Xi Jinping, has raised a host of vexing questions, but Economy's wonderfully lucid and well-researched book fills in many of the blanks regarding Xi's strengths and weaknesses." -- Orville Schell, Arthur Ross Director, Asia SocietyCenter on U.S.-China Relations"For the first time in modern history, we have a communist country poised to be the biggest and most important driver of the global free market. That's astonishing. And we still don't know what makes China's political leadership and Xi Jinping in particular tick. If that freaks you out (and it should), Liz Economy's book is the place to start." -- Ian Bremmer, President and Founder, Eurasia Group"The timing of The Third Revolution is impeccable. Economy convincingly demonstrates how Beijing has used its heft to influence technological and political standards." - The Financial Times"A work of cool-headed analysis." - Foreign Affairs"The must-read book of 2018. . . . Economy's book traces Xi's influence and ambitions through an exhaustive reading of his speeches as well as an astute knowledge of Chinese politics and policy. It should be required reading not just for China-watchers but for anyone interested in U.S.-China relations and the future of world order." - Bloomberg

Elizabeth C. Economy is the C.V. Starr Senior Fellow and Director of Asia Studies at the Council on Foreign Relations. An expert on Chinese domestic and foreign policy, her most recent book, with Michael Levi, is By All Means Necessary: How China's Resource Quest is Changing the World.

In this updated paperback edition of The Third Revolution, eminent China scholar Elizabeth C. Economy provides an incisive look at the transformative changes underway in China today. Chinese leader Xi Jinping has unleashed a powerful set of political and economic reforms: the centralization of power under Xi, himself, the expansion of the Communist Party's role in Chinese political, social, and economic life, and the construction of a virtual wall ofregulations to control more closely the exchange of ideas and capital between China and the outside world. Through a wide-ranging exploration of Xi Jinping's top political, economic and foreign policy priorities-fighting corruption, managing the Internet, reforming the state-owned enterprise sector, improving thecountry's innovation capacity, enhancing air quality, and elevating China's presence on the global stage-Economy identifies the tensions, shortcomings, and successes of Xi's reform efforts over the course of his time in office. She also assesses their implications for the rest of the world, and provides recommendations for how the United States and others should navigate their relationship with this vast nation in the coming years. This updated edition features new material on China's reactionto the rise of Trump and his economic nationalist policies.

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