The view that China has become increasingly assertive under President Xi Jinping is now a common trope in academic and media discourse. However, until the end of Xi Jinping’s first term in March 2018, China had been relatively restrained in its use of coercive economic measures. This is puzzling given the conventional belief among scholars and practitioners that sanctions are a middle ground between diplomatic and military/paramilitary action.
Using a wide range of methods and data – including in-depth interviews with 76 current and former politicians, policy-makers, diplomats, and commercial actors across 12 countries and 16 cities – Sanctions with Chinese Characteristics: Rhetoric and Restraint in China’s Diplomacy examines the ways in which China had employed economic sanctions to further its political objectives, and the factors explaining China’s behaviour. This book provides a systematic investigation into the ways in which Chinese decisionmakers approached sanctions both at the United Nations Security Council and unilaterally, and shows how China’s longstanding sanctions rhetoric has had a constraining effect on its behaviour, resulting in its inability to employ sanctions in complete alignment with its immediate interests.

Savage Exchange explores the politics of representation during the Han dynasty (206 BCE–220 CE) at a pivotal moment when China was asserting imperialist power on the Eurasian continent and expanding its local and long-distance (“Silk Road”) markets. Tamara T. Chin explains why rival political groups introduced new literary forms with which to represent these expanded markets. To promote a radically quantitative approach to the market, some thinkers developed innovative forms of fiction and genre. In opposition, traditionalists reasserted the authority of classical texts and advocated a return to the historical, ethics-centered, marriage-based, agricultural economy that these texts described. The discussion of frontiers and markets thus became part of a larger debate over the relationship between the world and the written word. These Han debates helped to shape the ways in which we now define and appreciate early Chinese literature and produced the foundational texts of Chinese economic thought. Each chapter in the book examines a key genre or symbolic practice (philosophy, fu-rhapsody, historiography, money, kinship) through which different groups sought to reshape the political economy. By juxtaposing well-known texts with recently excavated literary and visual materials, Chin elaborates a new literary and cultural approach to Chinese economic thought.

The media are in crisis. Confronted by growing competition and sagging advertising revenue, news operations in print, on radio and TV, and even online are struggling to reinvent themselves. Many have gone under. For too many others, the answer has been to lay off reporters, join conglomerates, and lean more heavily on generic content. The result: in a world awash with information, news organizations provide citizens with less and less in-depth reporting and a narrowing range of viewpoints. If democracy requires an informed citizenry, this trend spells trouble.

Julia Cagé explains the economics and history of the media crisis in Europe and America, and she presents a bold solution. The answer, she says, is a new business model: a nonprofit media organization, midway between a foundation and a joint stock company. Cagé shows how this model would enable the media to operate independent of outside shareholders, advertisers, and government, relying instead on readers, employees, and innovative methods of financing, including crowdfunding.

Cagé’s prototype is designed to offer new ways to share and transmit power. It meets the challenges of the digital revolution and the realities of the twenty-first century, inspired by a central idea: that news, like education, is a public good. Saving the Media will be a key document in a debate whose stakes are nothing less crucial than the vitality of democracy.

A sweeping intellectual history of the concept of economic scarcity—its development across five hundred years of European thought and its decisive role in fostering the climate crisis.

Modern economics presumes a particular view of scarcity, in which human beings are innately possessed of infinite desires and society must therefore facilitate endless growth and consumption irrespective of nature’s limits. Yet as Fredrik Albritton Jonsson and Carl Wennerlind show, this vision of scarcity is historically novel and was not inevitable even in the age of capitalism. Rather, it reflects the costly triumph of infinite-growth ideologies across centuries of European economic thought—at the expense of traditions that sought to live within nature’s constraints.

The dominant conception of scarcity today holds that, rather than master our desires, humans must master nature to meet those desires. Albritton Jonsson and Wennerlind argue that this idea was developed by thinkers such as Francis Bacon, Samuel Hartlib, Alfred Marshall, and Paul Samuelson, who laid the groundwork for today’s hegemonic politics of growth. Yet proponents of infinite growth have long faced resistance from agrarian radicals, romantic poets, revolutionary socialists, ecofeminists, and others. These critics—including the likes of Gerrard Winstanley, Dorothy Wordsworth, Karl Marx, and Hannah Arendt—embraced conceptions of scarcity in which our desires, rather than nature, must be mastered to achieve the social good. In so doing, they dramatically reenvisioned how humans might interact with both nature and the economy.

Following these conflicts into the twenty-first century, Albritton Jonsson and Wennerlind insist that we need new, sustainable models of economic thinking to address the climate crisis. Scarcity is not only a critique of infinite growth, but also a timely invitation to imagine alternative ways of flourishing on Earth.

Next Generation e-book nonfiction 2023 Indie Book Award Prize.

While social network analyses often demonstrate the usefulness of social media networks to affective publics and otherwise marginalized social justice groups, this book explores the domination and manipulation of social networks by more powerful political groups. Jeffrey Layne Blevins and James Lee look at the ways in which social media conversations about race turn politically charged, and in many cases, ugly. Studies show that social media is an important venue for news and political information, while focusing national attention on racially involved issues. Perhaps less understood, however, is the effective quality of this discourse, and its connection to popular politics, especially when Twitter trolls and social media mobs go on the attack.

Taking on prominent case studies from the past few years, including the Ferguson protests and the Black Lives Matter movement, the 2016 presidential election, and the rise of fake news, this volume presents data visualization sets alongside careful scholarly analysis. The resulting volume provides new insight into social media, legacy news, and social justice.

It would have been hard to miss the pivotal role debt has played for contentious politics in the last decades. The North Atlantic Financial Crisis, Global Recession and European Debt Crisis - as well as the recent waves of protest that followed them - have catapulted debt politics into the limelight of public debates. Profiting from years of fieldwork and an extensive amount of empirical data, Christoph Sorg traces recent contestations of debt from North Africa to Europe and the US. In doing so, he identifies the emergence of new transnational movement networks against the injustice of current debt politics, which struggle for more social and democratic ways of organizing debt within and between societies.

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.

What did it mean to run a large, commercialized agrarian polity according to the best Confucian principles?

This book is intended as a contribution to both intellectual and political history. It is partly a study of how Confucian-trained officials thought about the grain trade and the state's role in it, particularly the "ever-normal granaries," the stockpiles of grain maintained by every county government as protection against shortages and high prices. The author investigates the scope and limits of belief in market forces among those critical of government intervention, establishing that rudimentary economic arguments for state withdrawal from the grain trade were available by 1750. She then explores challenges, from within the ruling apparatus, to the state's claim that its own stockpiling served the public interest, as well as the factors behind decisions in the mid- and late 1740s to suspend or decrease state purchases of grain.

As a study of Confucian government in action, this book describes a mode of public policy discussion far less dominated by the Confucian scriptures than one might expect. As a contribution to intellectual history, the work offers a detailed view of members of an ostensibly Confucian government pursuing divergent agendas around the question of "state or merchant?"

This report is the last of a six-volume series in which RAND explores the elements of a national strategy for the conduct of U.S. foreign policy. It analyzes U.S. strengths and weaknesses, and suggests adaptations for this new era of turbulence and uncertainty. The report offers three alternative strategic concepts and evaluates their underlying assumptions, costs, risks, and constraints.

Many consumers feel powerless in the face of big industry’s interests. And the dominant view of economic regulators (influenced by Mancur Olson’s book The Logic of Collective Action, published in 1965) agrees with them. According to this view, diffuse interests like those of consumers are too difficult to organize and too weak to influence public policy, which is determined by the concentrated interests of industrial-strength players. Gunnar Trumbull makes the case that this view represents a misreading of both the historical record and the core logic of interest representation. Weak interests, he reveals, quite often emerge the victors in policy battles.

Based on a cross-national set of empirical case studies focused on the consumer, retail, credit, pharmaceutical, and agricultural sectors, Strength in Numbers develops an alternative model of interest representation. The central challenge in influencing public policy, Trumbull argues, is not organization but legitimation. How do diffuse consumer groups convince legislators that their aims are more legitimate than industry’s? By forging unlikely alliances among the main actors in the process: activists, industry, and regulators. Trumbull explains how these “legitimacy coalitions” form around narratives that tie their agenda to a broader public interest, such as expanded access to goods or protection against harm. Successful legitimizing tactics explain why industry has been less powerful than is commonly thought in shaping agricultural policy in Europe and pharmaceutical policy in the United States. In both instances, weak interests carried the day.

'A major analysis of our world's political crisis' - Joel Wainwright

The collapse of neoliberal hegemony in the western world following the financial crash of 2007-8 and subsequent rise of right-wing authoritarian personalities has been described as a crisis of 'the political' in western societies. But the crisis must be seen as global, rather than focusing on the west alone.

Pakistan is experiencing rapid financialization and rapacious capture of natural resources, overseen by the country's military establishment and state bureaucracy. Under their watch, trading and manufacturing interests, property developers and a plethora of mafias have monopolized the provision of basic needs like housing, water and food, whilst also feeding conspicuous consumption by a captive middle-class.

Aasim Sajjad-Akhtar explores neoliberal Pakistan, looking at digital technology in enhancing mass surveillance, commodification and atomization, as well as resistance to the state and capital. Presenting a new interpretation of our global political-economic moment, he argues for an emancipatory political horizon embodied by the 'classless' subject.

Much of the innovative programming that powers the Internet, creates operating systems, and produces software is the result of “open source” code, that is, code that is freely distributed—as opposed to being kept secret—by those who write it. Leaving source code open has generated some of the most sophisticated developments in computer technology, including, most notably, Linux and Apache, which pose a significant challenge to Microsoft in the marketplace. As Steven Weber discusses, open source’s success in a highly competitive industry has subverted many assumptions about how businesses are run, and how intellectual products are created and protected.

Traditionally, intellectual property law has allowed companies to control knowledge and has guarded the rights of the innovator, at the expense of industry-wide cooperation. In turn, engineers of new software code are richly rewarded; but, as Weber shows, in spite of the conventional wisdom that innovation is driven by the promise of individual and corporate wealth, ensuring the free distribution of code among computer programmers can empower a more effective process for building intellectual products. In the case of Open Source, independent programmers—sometimes hundreds or thousands of them—make unpaid contributions to software that develops organically, through trial and error.

Weber argues that the success of open source is not a freakish exception to economic principles. The open source community is guided by standards, rules, decisionmaking procedures, and sanctioning mechanisms. Weber explains the political and economic dynamics of this mysterious but important market development.