China's Rise and the Balance of Influence in Asia

China's protracted boom and political transformation is a major episode in the history of global political economy. Beginning in the late 1970s, China experienced a quarter century of extraordinary growth that raised every indicator of material welfare, lifted several hundred million out of poverty, and rocketed China from near autarky to regional and even global prominence. These striking developments transformed China into a major U.S. trade and investment partner, a regional military power, a