front cover of The Communist Party in Maryland, 1919-57
The Communist Party in Maryland, 1919-57
Vernon L. Pedersen
University of Illinois Press, 2001
This rare grass-roots account of American communism traces the rise and fall of Maryland's Communist Party from the time of the Russian Revolution to the McCarthy era. Drawing on sources including the central archives of the Communist Party of the United States of America, recovered from remote storage in Siberia in 1993, Vernon L. Pedersen presents a sharp challenge to revisionist views of American communism as a benign domestic movement detached from Soviet interests.
 
Bolsheviks in Baltimore charts the uneven transformation of Baltimore's fledgling Communists into underground revolutionaries in the 1920s. Pedersen documents the mercurial careers of local organizers, their devotion to the Soviet cause, and their efforts to convert the Party from a hodgepodge of ethnic groups to an effective instrument of class interests. He also tracks the public's changing perception of the Communists, from amused unconcern to alarm, and details how the Ober antisubversive law and the HUAC hearings of the 1950s dismantled the Party from without while planting seeds of paranoia that destroyed it from within.
 
Behind the public fear of a Communist conspiracy against the U.S. government, Pedersen finds a party fractured by conflicting agendas, ineffectual leadership, and unstable membership. However, he also uncovers new evidence that Communists in the United States, acting on Soviet orders, used their influence in unions and front groups to sway American foreign policy in ways that benefited the Soviet Union. He documents the consolidation of an espionage apparatus in Baltimore and demonstrates that while espionage activities may have involved only a few individuals, all Party members shared an attitude of willing support for the activities of the Soviet Union that made these covert practices possible.
 
Paying tribute to the fervor and the effort dedicated by the Maryland Communists, often at the expense of their own physical and financial well-being, to a cause that ultimately failed them, Bolsheviks in Baltimore assesses an ambiguous legacy of admirable social vision, haphazard international conspiracy, and fierce internal conflict.
 
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front cover of Sovereign Funds
Sovereign Funds
How the Communist Party of China Finances Its Global Ambitions
Zongyuan Zoe Liu
Harvard University Press, 2023

The first in-depth account of the sudden growth of China’s sovereign wealth funds and their transformative impact on global markets, domestic and multinational businesses, and international politics.

One of the keys to China’s global rise has been its strategy of deploying sovereign wealth on behalf of state power. Since President Xi Jinping took office in 2013, China has doubled down on financial statecraft, making shrewd investments with the sovereign funds it has built up by leveraging its foreign exchange reserves. Sovereign Funds tells the story of how the Communist Party of China (CPC) became a global financier of surpassing ambition.

Zongyuan Zoe Liu offers a comprehensive and up-to-date analysis of the evolution of China’s sovereign funds, including the China Investment Corporation, the State Administration of Foreign Exchange, and Central Huijin Investment. Liu shows how these institutions have become mechanisms not only for transforming low-reward foreign exchange reserves into investment capital but also for power projection. Sovereign funds are essential drivers of the national interest, shaping global markets, advancing the historic Belt and Road Initiative, and funneling state assets into strategic industries such as semiconductors, fintech, and artificial intelligence. In the era of President Xi, state-owned financial institutions have become gatekeepers of the Chinese economy. Political and personal relationships with prestigious sovereign funds have enabled Blackstone to flourish in China and have fueled the ascendance of private tech giants such as Alibaba, Ant Finance, and Didi.

As Liu makes clear, sovereign funds are not just for oil exporters. The CPC is a leader in both foreign exchange reserves investment and economic statecraft, using state capital to encourage domestic economic activity and create spheres of influence worldwide.

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front cover of The The Communist Party of the United States
The The Communist Party of the United States
From the Depression to World War II
Ottanelli, Fraser
Rutgers University Press, 1991
an overview of the communists during the designated time period or to generally educate a new history or political science student.
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