"In this concise work, Peter Nolan provides a compelling and provocative assessment of China’s developmental challenge. As Nolan shows, it is not just China, but indeed the whole world, that stands at the crossroads. New rules, new technologies and a new global distribution of power have all called into question traditional answers to the problem of underdevelopment. China, to a greater degree perhaps than any other nation, has the potential to uncover a new path toward modernity. As Nolan points out, the consequences of its doing so, breathtaking as they are, would easily be dwarfed by the catastrophe of its failing to do so." Edward Steinfeld, Massachusetts Institute of Technology "Peter Nolan has produced a bold, readable and fast-paced work which asks large and important questions. He begins with a brilliant sketch of post-Mao China's enormous achievements and extraordinary challenges. After presenting the path of neo-liberalism as no solution for China, Nolan powerfully depicts the lasting lessons of the unique and glorious successes that were China's in the ages before the rise of Europe. He concludes with an innovative and insightful argument that, properly understood, the way ahead for China lies in synthesizing and building on the best in ethical thinking and economic analysis shared by Confucius and Adam Smith. Nolan has produced a mind-expanding tour de force." Edward Friedman, University of Winsconsin "This is an important book written in the tradition of The Wealth of Nations and The Theory of Moral Sentiments. Rare in the political economy literature, it is simultaneously sweeping and detailed, rigorous and moving." Lin Chun, Asia Research Centre, London School of Economics "This is a very readable book, full of interesting historical information on China, extensive literature refrences to works by Confucius, Marco Polo and Adam Smith (to mention but a few) and wise comments on the direction China should take at this critical juncture." Piiter Bottelier, Johns Hopkins University