Challenges of Industrialization and Globalization of Business Towards the Twenty First-century

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Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Challenges of Industrialization and Globalization of Business Towards the Twenty First-century by : Nordin Muhamad

Download or read book Challenges of Industrialization and Globalization of Business Towards the Twenty First-century written by Nordin Muhamad and published by . This book was released on 1993 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Fourth Industrial Revolution

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Publisher : Currency
ISBN 13 : 1524758876
Total Pages : 192 pages
Book Rating : 4.5/5 (247 download)

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Book Synopsis The Fourth Industrial Revolution by : Klaus Schwab

Download or read book The Fourth Industrial Revolution written by Klaus Schwab and published by Currency. This book was released on 2017-01-03 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

Global Turning Points

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Publisher : Cambridge University Press
ISBN 13 : 1139577042
Total Pages : 193 pages
Book Rating : 4.1/5 (395 download)

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Book Synopsis Global Turning Points by : Mauro F. Guillén

Download or read book Global Turning Points written by Mauro F. Guillén and published by Cambridge University Press. This book was released on 2012-09-20 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: The twenty-first century is replete with uncertainty and complexity: game-changing events and trends are transforming the world beyond recognition. For the first time in human history more people live in cities than in the countryside and greater numbers suffer from obesity than from hunger. Emerging economies now represent half of the global economy and during the next few decades India will be the biggest country in terms of population, China the largest in output and the United States the richest among the major economies on a per capita income basis. Food and water shortages will likely become humankind's most important challenge. In this accessible introduction, Mauro Guillén and Emilio Ontiveros deploy the tools of economics, sociology and political science to provide an analytical perspective on both the problems and opportunities facing business in the modern world.

Pathways to Industrialization in the Twenty-First Century

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Publisher : Wider Studies in Development E
ISBN 13 : 0199667853
Total Pages : 466 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis Pathways to Industrialization in the Twenty-First Century by : Adam Szirmai

Download or read book Pathways to Industrialization in the Twenty-First Century written by Adam Szirmai and published by Wider Studies in Development E. This book was released on 2013-02-28 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the importance of industrialization and the development of manufacturing in the economic development process. It focuses specifically on new challenges such as global value chains, the rise of China, climate change, and the role of state versus private sector entrepreneurs in forging appropriate industrial policies.

Globalization of Business

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Publisher : Adonis & Abbey Publishers
ISBN 13 :
Total Pages : 352 pages
Book Rating : 4.3/5 (555 download)

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Book Synopsis Globalization of Business by : John O. Okpara

Download or read book Globalization of Business written by John O. Okpara and published by Adonis & Abbey Publishers. This book was released on 2008 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization, an inevitable phenomenon in human history, has been bringing the world closer through exchange of goods and services, advancements in information communication technologies (ICTs), global diffusion of technologies, and cultural awareness. Recent developments and trends within the global business arena present managers with challenging situations. Competing in the twenty-first century and beyond requires firms to invest in the increasingly refined managerial skills needed to perform effectively in a multicultural business environment. Global companies are faced with varied and dynamic environments in which they must accurately assess the political, legal, technological, ethical, and cultural factors that shape their strategies and operations. The success of a company's global operation often depends significantly on the manager's cultural skills, as well as the ability to carry out the company's strategy within the context of the host country's business practices. While globalization is a vehicle for, and a consequence of human progress, it is also a confused process that requires change. The change process presents the manager with challenging strategic options. Globalization of Business: Theories and Strategies for Tomorrow's Managers addresses the above challenges. It offers managers and business students strategies on how to become globally competitive in a complex international management environment. Contributors to the volume offer their insights into the issues every global manager needs to understand such as the nature of the global business environment, entry mode choice, global strategic positioning, global human resource management, human rights and ethical issues. The book covers general as well as specific topics, including assumptions, theories, and practices of globalization. It is expected that the book will enable business students, managers and corporate leaders to avoid common drawbacks in their quest to build a successful global firm that will benefit all. _______________________________________________________________ Dr. Okpara is an associate professor of management at the College of Business at Bloomsburg University, Pennsylvania, USA where he teaches courses at both the graduate and undergraduate levels in strategic management and international business. A widely published scholar, his contributions have appeared in many of the leading management journals and proceedings of major national and international conferences. He is also the editor of International Journal of Social Entrepreneurship (IJSE).

Global Turning Points

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Publisher :
ISBN 13 : 9781139569286
Total Pages : 182 pages
Book Rating : 4.5/5 (692 download)

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Book Synopsis Global Turning Points by : Mauro F. Guillén

Download or read book Global Turning Points written by Mauro F. Guillén and published by . This book was released on 2012 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The twenty-first century is replete with uncertainty and complexity: game-changing events and trends are transforming the world beyond recognition. For the first time in human history more people live in cities than in the countryside and greater numbers suffer from obesity than from hunger. Emerging economies now represent half of the global economy and during the next few decades India will be the biggest country in terms of population, China the largest in output and the United States the richest among the major economies on a per capita income basis. Food and water shortages will likely become humankind's most important challenge. In this accessible introduction, Mauro Guillen and Emilio Ontiveros deploy the tools of economics, sociology and political science to provide an analytical perspective on both the problems and opportunities facing business in the modern world"--

Doing Business Anywhere

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Publisher : Wiley
ISBN 13 : 9780471973171
Total Pages : 0 pages
Book Rating : 4.9/5 (731 download)

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Book Synopsis Doing Business Anywhere by : Tom Travis

Download or read book Doing Business Anywhere written by Tom Travis and published by Wiley. This book was released on 2007-04-20 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Through his principles of global trade and real-life examples, Tom Travis will help you find your seat at the globalization table. If you want to understand the universal themes for global expansion, read this book." --George Feldenkreis, Chairman and Chief Executive Officer, Perry Ellis International "Keeping your focus on high ethical standards as well as security, building solid personal relationships, and maintaining real openness while expecting the unexpected – these are good rules for anyone seeking to compete in a rapidly, and in many ways, radically changing global economy. This book has such good advice, and more." --Bill Brock, Former U.S. Trade Representative "Doing Business Anywhere is an excellent book for any business person who thinks global. The Tenets of Global Trade Travis outlines are the fundamental building blocks for global business. Read this book, then read it again." --Rodney M. Birkins Jr., Senior Vice President, Global Sourcing Design & Product Development, QVC Inc. "Doing Business Anywhere by Tom Travis captures that very unique perspective of the core issues and break-through thinking on global trade. Tom's great counsel and insight brings to light a perspective that is crucial to succeed in the challenges as well as issues related to global trade. Well done!" --Jerry Cook, VP Government and Trade Relations, Hanesbrands, Inc. "Anyone whose business relies on going global needs to read this book and understand its message. Tom Travis has artfully distilled the most important principles of international trade." --Ken Eaton, Former SR VP and Managing Director, Global Procurement, Wal-Mart Stores, Inc. "With his decades of international experience, only Tom Travis could have articulated global trade in such a clear, educational and enjoyable manner. Doing Business Anywhere is a must read for "every" business leader and manager." --Steven R. Walton, Chairman, Wing Tai International Apparel Group "Doing Business Anywhere clearly demonstrates that Tom Travis is a master of the game…his thoughtful guide to global trade and his clear prose make this a must read for anyone wanting to compete and succeed in the global economy." --Mark B. Rosenberg, Chancellor, State University System of Florida "As a professor, author, entrepreneur and consultant on the supply chain who has seen the supply chain evolve from a domestic practice to a global science I tip my hat to Tom Travis for condensing everything entrepreneurs and business leaders need to know about global trade into one concise and absorbing book. Tom rightly points out that because problems and road blocks can exist at every turn that integrating his Six Tenets of Global Trade into every aspect of your supply chain is critical to your success. This book is hard to put down as each of the tenets is presented in the context of real stories of global trade. Intriguing! Everyone in global trade should have Doing Business Anywhere on their bookshelf." --James A. Tompkins Ph.D., Chairman, CEO and Founder of Tompkins Associates., Inc. "Challenges and opportunities are an integral part of today’s international trade environment. Not only do we have to secure the trade supply chain but we also have to facilitate the movement of legitimate goods across borders. For those of us involved in this form of economic activity, whether we are from the public or private sector, it is vital that we recognize the importance of international trade to the economic prosperity of the world’s nations. Its catalytic role in alleviating poverty, enhancing financial stability, and promoting social well-being can never be under-estimated. As the author of this book, Tom Travis, so rightly says, we are all actively involved in global trade as we go about our daily lives whether we consciously know this or not. Globalization too is part and parcel of the international trade landscape and it is imperative that one learns to navigate this terrain if one wants to succeed in the business environment of the 21st century. This is exactly what this book sets out to do. It provides the reader with six tenets of global trade backed by clear explanations as to how they should be applied in real-world situations involving a wide range of role-players. The book is an indispensable guide to trans-national economic operators, global business leaders and others who are part of the international customs and trade community as it provides an arsenal of tools that will enrich the quality of doing business globally. From taking advantage of trade agreements, to protecting your brand at all costs, to maintaining high ethical standards, Tom Travis' incredible understanding of the business world and the issues that impact on the trade environment make him the ultimate business coach. Indeed, the book captures the essential ingredients that are necessary to make today’s business men and women excel and win. This essential guide is a global winner and I highly recommend it for its insight and value-added leadership." --Michel Danet, Secretary General, World Customs Organization "With his Six Tenets of Global Trade, author Tom Travis will help CEOs everywhere get it right when it comes to global trade. He lays out the most important aspects of trade that businesspeople—especially those of us in the apparel industry - need to know in order to be successful. It's not easy to manage the numerous elements involved in forging trust-based and profitable trade relationships - relationships that benefit everyone involved. This incisive book helps businesspeople achieve just that. His lessons on branding and social responsibility in particular are hugely valuable for anyone just entering the worldwide trade arena. And even if you've been around the global block a few times, you'll learn something new and thought provoking. Travis's book is an essential read for anyone expanding their horizons globally. " --Scott A. Edmonds, President & Chief Executive Officer, Chico's FAS, Inc. "This book overflows with many valuable lessons for anyone who wants a better understanding of how global trade is shaping our world. It's a delightful surprise to find a business book that takes such a comprehensive look at global trade. Tom Travis's examples and tenets show that for global trade to truly be positive it must create sustainability in all of the areas involved." --Pietra Rivoli, Author of The Travels of a T-Shirt in the Global Economy: An Economist Examines the Markets, Power, and Politics of World Trade

Industrial Development for the 21st Century

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Author :
Publisher : Zed Books
ISBN 13 : 9781848130272
Total Pages : 452 pages
Book Rating : 4.1/5 (32 download)

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Book Synopsis Industrial Development for the 21st Century by : David O'Connor

Download or read book Industrial Development for the 21st Century written by David O'Connor and published by Zed Books. This book was released on 2008-06-01 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: With very few exceptions, industrial development has been central to the process of structural transformation which characterises economic development. Industrial Development for the 21st century examines the new challenges and opportunities arising from globalization, technological change and new international trade rules. The first part focuses on key sectors with potential for developing countries, focussing on two key themes. First, traditional points of entry for late industrializers - like textiles and clothing - have become even more intensely competitive than ever before, requiring more innovative adaptive strategies for success. Second, countries now recognize that manufacturing does not exhaust the opportunities for producing high value-added goods and services for international markets. Knowledge intensity is increasing across all spheres of economic activity, including agriculture and services, which can offer promising development paths for some developing countries. The final section addresses social and environmental aspects of industrial development. Labour-intensive, but not necessarily other patterns of industrial development can be highly effective in poverty reduction though further industrial progress may be less labour-intensive. A range of policies can promote industrial energy and materials efficiency, often with positive impacts on firms' financial performance as well as the environment. Promoting materials recycling and reuse is an effective, if indirect means of conserving resources. Finally, the growth of multinational interest in corporate social responsibility is traced, with consideration given to both the barriers and opportunities this can pose for developing country enterprises linked to global supply chains.

Global Turning Points

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Publisher : Cambridge University Press
ISBN 13 : 9781316503539
Total Pages : 0 pages
Book Rating : 4.5/5 (35 download)

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Book Synopsis Global Turning Points by : Mauro F. Guillén

Download or read book Global Turning Points written by Mauro F. Guillén and published by Cambridge University Press. This book was released on 2016-04-21 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of this popular book offers an accessible yet sophisticated analysis of the game-changing events and trends that are transforming the world beyond recognition. For the first time in human history, more people live in cities than in the countryside, and greater numbers suffer from obesity than from hunger. During the next few decades, India will become the biggest country in terms of population, China the largest in output, and the United States the richest among the major economies on a per capita income basis. Food and water shortages will likely become humankind's most important challenges. With four new chapters on the rise of the global middle class, the transformative power of technology, institutions and the entrepreneurial spirit, and the trials and tribulations of the financial system, this book provides a thorough introduction to the challenges facing business and society in the twenty-first century.

The Factory-free Economy

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Publisher : Oxford University Press
ISBN 13 : 019877916X
Total Pages : 383 pages
Book Rating : 4.1/5 (987 download)

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Book Synopsis The Factory-free Economy by : Lionel Fontagné

Download or read book The Factory-free Economy written by Lionel Fontagné and published by Oxford University Press. This book was released on 2017 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: An economic analysis of de-industrialization that considers the ongoing transformation of the industrial economies and the consequences for economic policy.

Globalization and Its Challenges for Business and Business Ethics in the Twenty-First Century

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Globalization and Its Challenges for Business and Business Ethics in the Twenty-First Century by : Patricia H. Werhane

Download or read book Globalization and Its Challenges for Business and Business Ethics in the Twenty-First Century written by Patricia H. Werhane and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global expansion of free enterprise has been underway for some time, and the challenges for global companies are well-known. Companies often operate in economically blighted communities and in corrupt environments without a rule of law. At the same time Western-based global corporations are under increasing public pressure to take on responsibilities to these communities that are often beyond their expertise or economic purview. For example, at the 2008 Davos meetings Bill Gates proposed the idea of “creative capitalism, challenging business to 'meet the needs of the poor in ways that generate profits'...” In what follows I shall argue that while there have been many successful global ventures, the Gates' challenge requires academics and managerial leaders to rethink their mind sets and expand their thinking about what we mean by globalization, poverty, and the multiple dimensions of free enterprise.

Globalization and the Challenges of a New Century

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Publisher : Indiana University Press
ISBN 13 : 9780253213556
Total Pages : 582 pages
Book Rating : 4.2/5 (135 download)

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Book Synopsis Globalization and the Challenges of a New Century by : Patrick O'Meara

Download or read book Globalization and the Challenges of a New Century written by Patrick O'Meara and published by Indiana University Press. This book was released on 2000-06-22 with total page 582 pages. Available in PDF, EPUB and Kindle. Book excerpt: On world politics.

Global Trends 2040

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Publisher : Cosimo Reports
ISBN 13 : 9781646794973
Total Pages : 158 pages
Book Rating : 4.7/5 (949 download)

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Book Synopsis Global Trends 2040 by : National Intelligence Council

Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

Pathways to Industrialization in the Twenty-First Century

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Publisher : OUP Oxford
ISBN 13 : 0191644781
Total Pages : 466 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis Pathways to Industrialization in the Twenty-First Century by : Adam Szirmai

Download or read book Pathways to Industrialization in the Twenty-First Century written by Adam Szirmai and published by OUP Oxford. This book was released on 2013-02-28 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last two centuries, the experiences of the first wave of industrialized countries in Europe and the US, and the more recent experiences of the East Asian Tigers, Indonesia, Malaysia, Thailand, China, India, and Vietnam, have illustrated the transformative nature of industrialization. There are reasons to believe that industrialization will continue to be one of the major engines of growth, transformation, and socioeconomic development. Industrial development enables a more rapid advancement toward developed country living standards. But many challenges remain, and new challenges have arisen. These include: integration into global value chains; the shrinking of policy space in the present international order; the rise of the Asian driver economies; new opportunities provided by resource-based industrialization; the accelerating pace of technological change in manufacturing; how to deal with jobless growth in manufacturing; creating adequate systems of financial intermediation; and how to respond to the threats of global warming and climate change. Under present conditions it may be more difficult than ever for the poorer developing countries to foster industrial development and structural change. They face a more complex, and daunting set of circumstances than the developing countries that embarked on industrialization after 1950. These changing and challenging circumstances require new thinking, and in particular new paradigms to guide researchers, policy makers, and international development organizations in the future. The book includes chapters on the experiences of Africa, Latin America, China, and Indonesia, as wells as thematic chapters on structural change, jobless growth, the evolution of industrial policy, and the challenges of environmental sustainability and climate change. It provides a timely analysis of the circumstances and challenges facing developing countries in industrialization, and offer fresh ideas for new paradigms to carry forward industrial policy in the future.

Workforce Development:

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Publisher :
ISBN 13 : 9781536188110
Total Pages : 0 pages
Book Rating : 4.1/5 (881 download)

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Book Synopsis Workforce Development: by : Nicholas C. Bolden

Download or read book Workforce Development: written by Nicholas C. Bolden and published by . This book was released on 2020-11-20 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "For the century of approximately 1870 through 1970, America's ongoing industrialization brought growing prosperity to much of its citizenry and, after World War II, created a broad middle-class society. After the mid-1970s, however, de-industrialization or the movement of manufacturing production to other countries resulted in growing economic and social stress on many of the working class who did not possess a college education. Donald Trump was the first major U.S. politician to recognize this problem and promise to create "good jobs" for working-class Americans. Yet, his most dramatic policy initiatives in the areas of trade, immigration, and deregulation did not produce dramatic change during his first term. A more positive trend is bubbling up from state and local governments, with the encouragement (but not funding) from the Trump administration. This is the growing importance of workforce development programs, which seek to develop the skills necessary for America's 21st century economy through education reform, industrial apprenticeships, and tax incentives. Does the future of the national economy rest in safe arms with the new re-industrialization strategy and education reform? States and local governments must ascertain what mix of higher education reform, k-12 reform, career readiness, and high-tech training is the best equation for the growing workforce deficit and waning middle-class. In addition, education reform must consider high-tech automation, robotics, and artificial intelligence as a curriculum component in education reform. This policy area must be constructed in ways that not only broadens the middle-class but helps the victims of deindustrialization and reindustrialization. Chapter 1 provides an overview of the challenges facing the working class in the United States and an outline of the book. Chapter 2 describes the stage of industrialization (1870-1970) that created a middle class society. Chapter 3 discusses the periods of deindustrialization (1970-2000) and reindustrialization in advanced manufacturing (early 21st century). Chapter 3 then analyzes the causes (globalization, organizational change, public policy, business strategy, and automation) and consequences (the emergence and shrinkage of a broad middle-class society) of the changing dynamics of industrialization. Chapter 4 presents a case study from the state of Alabama, demonstrating how manufacturing reduces inequality. Chapter 5 discusses how work-based learning programs promote racial diversity. Chapter 6 investigates modern apprenticeship and work-based learning programs. Finally, Chapter 7 considers the implications of this study and argues that workforce development policies hold the key to American prosperity in the 21st century"--

Embedded Autonomy

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Publisher : Princeton University Press
ISBN 13 : 140082172X
Total Pages : 344 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Embedded Autonomy by : Peter B. Evans

Download or read book Embedded Autonomy written by Peter B. Evans and published by Princeton University Press. This book was released on 2012-01-12 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, debate on the state's economic role has too often devolved into diatribes against intervention. Peter Evans questions such simplistic views, offering a new vision of why state involvement works in some cases and produces disasters in others. To illustrate, he looks at how state agencies, local entrepreneurs, and transnational corporations shaped the emergence of computer industries in Brazil, India, and Korea during the seventies and eighties. Evans starts with the idea that states vary in the way they are organized and tied to society. In some nations, like Zaire, the state is predatory, ruthlessly extracting and providing nothing of value in return. In others, like Korea, it is developmental, promoting industrial transformation. In still others, like Brazil and India, it is in between, sometimes helping, sometimes hindering. Evans's years of comparative research on the successes and failures of state involvement in the process of industrialization have here been crafted into a persuasive and entertaining work, which demonstrates that successful state action requires an understanding of its own limits, a realistic relationship to the global economy, and the combination of coherent internal organization and close links to society that Evans called "embedded autonomy."

Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization

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Author :
Publisher : World Scientific
ISBN 13 : 9814733741
Total Pages : 336 pages
Book Rating : 4.8/5 (147 download)

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Book Synopsis Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization by : Yi Wen

Download or read book Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization written by Yi Wen and published by World Scientific. This book was released on 2016-05-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.