NOTES

Introduction: A New Year’s Resolution

1. David Pendery, press release, February 27, 2009, “Three Top Economists Agree 2009 Worst Financial Crisis Since Great Depression; Risks Increase if Right Steps Are Not Taken,” http://www.reuters.com/article/2009/02/27/idUS193520+27-Feb-2009+BW20090227.

2. Nikki Schwab, “A National Crisis of Confidence,” U.S. News & World Report, November 12, 2007.

3. Ellen Kelleher, “Americans Forfeit Citizenship to Avoid Tax,” Financial Times, July 17, 2010.

4. Lydia Saad, “More Americans Say U.S. a Nation of Haves and Have-nots,” Gallup Poll, July 11, 2008; Jodie T. Allen and Michael Dimock, “A Nation of ‘Haves’ and ‘Have Nots’?: Far More Americans Now See Their Country as Sharply Divided along Economic Lines,” Pew Research Center, September 13, 2007.

5. “Is U.S. Losing Its Competitive Edge?” IBD Editorial, Investor’s Business Daily, September 9, 2010; Karen Kerrigan, “U.S. Losing Its Competitive Edge,” Fox News, October 5, 2006; Timothy O’Brien, “Are U.S. Innovators Losing Their Competitive Edge?” New York Times, November 13, 2005.

6. Bob Willis, “Recession Worst Since Great Depression, Revised Data Show,” Bloomberg, August 1, 2009.

7. Sarah Burgard, Jennie Brand, and James House, “Perceived Job Insecurity and Worker Health in the United States Research Report,” Populations Studies Center, University of Michigan, July 2008; Declan McCullagh, “Anti-China Hypocrisy in Congress?” CNET, February 1, 2006; Shaun Rein, “Anti-China Rhetoric Can Cost America $2T,” CNBC, May 9, 2011; Renata Rodriguez, “Florida Anti-Immigration Legislation Moving Quickly through House and Senate,” Voto Latino, April 22, 2011.

8. Michael Lewis, “All You Need to Know About Why Things Fell Apart,” Bloomberg News, February 15, 2011.

9. Lexington, “China in the Mind of America,” the Economist, January 20, 2011.

10. Robert X. Cringley, “Inflection Point: This Week Changed the World of High Tech Forever, Though Most of Us Still Don’t Know It,” I, Cringely, May 12, 2005, http://www.pbs.org/cringely/pulpit/2005/pulpit_20050512_000852.html.

Chapter 1. The China Miracle

1. Xin Dingding, China Daily, March 30, 2008.

2. Tony Jin, China Perspective, October 30, 2009.

3. China Internet Network Information Center (CNNIC), http://www.cnnic.net.cn/en/index/0O/index.htm.

4. Xinhua, July 20, 2010, http://news.xinhuanet.com/english2010/sci/2010-07/20/c_13406639.htm.

5. Hurun Rich List, Hurun Report, September 9, 2011, http://www.hurun.net/user//newsshow.spx?.nid=151.

6. National Science Board, Science and Engineering Indicators 2010, January 15, 2010, http://www.nsf.gov/statistics/seind10/c0/c0s11.htm.

7. Chris Isidore, CNN Money, January 12, 2011, http://money.cnn.com/2011/01/12/news/companies/china_auto_bubble_risk/index.htm ?iid=MPM.

8. Trading Report, December 16, 2010, http://www.thetradingreport.com/2010/12/16/chinese-ipos-making-waves-in-the-market-but-beware-of-bubbles/.

9. “China to Raise Minimum Wage Levels,” China Briefing, January 29, 2010; Tingsong Jiang, “Government Transfer Payments and Regional Developments in China,” Centre for International Economics, Canberra and Zhiyun Zhao, Institute of Finance and Trade, Chinese Academy of Social Sciences, Beijing, 2003.

10. Derek Chen and Carl Dahlman, “The Knowledge Economy, the KAM Methodology, and World Bank Operations,” The World Bank, October 19, 2005.

11. Jamil Anderlini, “China: The Wild West with Razor Thin Margins,” Financial Times, April 20, 2010.

12. Sebastian Briozzo, “The Growing Importance of China-Brazil Trade,” Finance Asia, November 23, 2010.

13. Tao Wang, “Ten Big Questions on China’s Property Sector,” UBS Investment Research, May 12, 2010.

14. Ibid.

15. Chinese State Council, 2009.

16. Akbar Noman, “Scoring Millennium Goals: Economic Growth Versus the Washington Consensus,” Initiative for Policy Dialogue, March 2005; William Finnegan, “The Economics of Empire: Notes on the Washington Consensus,” Harper’s, May 2003.

17. Celia Dugger, “Ending Famine, Simply by Ignoring the Experts,” New York Times, December 2, 2007; Dani Rodrik, “Goodbye Washington Consensus, Hello Washington Confusion?” Harvard University, January 2006.

18. “Prime Minister Gordon Brown: G20 Will Pump Trillion Dollars into World Economy,” April 2, 2009; “Seoul Development Consensus for Shared Growth,” G20 Seoul Summit, November 12, 2010.

19. Anthony Painter, “Washington Consensus Is Dead,” Guardian, April 10, 2009.

20. Luca Di Leo and Jeffrey Sparshott, “Corporate Profits Rise to Record Annual Rate,” Wall Street Journal, November 24, 2010; “The Emerging Global Labor Market,” McKinsey Global Institute, 2003.

21. Top Foreign Holders of U.S. Treasuries, U.S. Treasury, December 2010.

Chapter 2. Confucian Philosophy

1. Giving USA Foundation, June 9, 2010, http://www.givingusa.org/press_releases/gusa/gusa060910.pdf; Giving USA, 2009, http://www.philanthropy.iupui.edu/News/2009/docs/GivingReaches300billion_06102009.pdf.

2. Su Xiaohuan, Education in China: Reforms and Innovations (Shanghai: China Intercontinental Press, 2002).

3. “International Students Rose Modestly in 2009/2010, Led by Strong Increase in Students from China,” Institute of International Education, November 15, 2010, http://www.iie.org/en/Who-We-Are/News -and-Events/Press-Center/Press-Releases/2010/2010-11-15-Open-Doors-International-Students-In-The-US.aspx.

4. “Income Limits for Each Fifth and Top 5 Percent of Families, 1947– 2007,” Current Population Survey, Annual Social and Economic Supplements, United States Census Bureau, April 12, 2009.

5. Ben Tracy, “More American Families Slip into Poverty,” CBS News, September 13, 2010; Ajay Kapur, “The Plutonomy Symposium Rising Tides Lifting Yachts,” Citigroup, October 16, 2005.

6. David Cay Johnston, “Income Gap Is Widening, Data Shows,” New York Times, March 29, 2007.

7. Robert Frank, “Income Inequality: Too Big to Ignore,” New York Times, October 16, 2010.

8. Udaya Wagle, “Economic Inequality in Kathmandu: A Multi-indicator Perspective,” Himalayan Journal of Development and Democracy Vol. 1, No. 1, 2006.

9. D’vera Cohn and Paul Taylor, “Baby Boomers Approach 65—Glumly: Survey Findings about America’s Largest Generation,” Pew Research Center, December 20, 2010.

10. Brian Riedl, “How Farm Subsidies Became America’s Largest Corporate Welfare Program,” The Heritage Foundation, February 25, 2002; Testimony of Ralph Nader before the Committee on the Budget, U.S. House of Representatives, June 30, 1999.

11. “One in 100: Behind Bars in America 2008,” Pew Center, 2008.

12. Bill Gorman, “Thursday Cable Ratings: ‘Jersey Shore Keeps Rising’; ‘Royal Pains,’ ‘Fairly Legal’ Premiers, ‘Real Housewives’ Finale & More,” TV by the Numbers, January 21, 2011.

13. Richard Rushfield, “Secret Rituals of American Idol Auditions Exposed,” Daily Beast, January 19, 2010.

14. Occupational Employment Statistics Survey Program, Bureau of Labor Statistics.

15. Christine Lagorio, “U.S. Education Slips in Rankings,” CBS News, September 13, 2005; Ben Feller and Angela Charlton, “Dropping Out, Falling Behind,” Associated Press, September 13, 2006; Maria Glod, “U.S. Teens Trail Peers around World on Math-Science Test,” Washington Post, December 5, 2007; Sam Dillon, “Many Nations Passing U.S. in Education, Experts Say,” New York Times, March 10, 2010.

16. Editorial Projects in Education, “Diplomas Count 2008: Can Prate P-16 Councils Ease the Transition?” Special Issue, Education Week, No. 40, 2008; Stacy Khadaroo, “Graduation Rate for U.S. High Schoolers Falls for Second Straight Year,” Christian Science Monitor, June 10, 2010.

17. U.S. Census Bureau and Bureau of Labor Statistics, Population surveys 2010.

18. Marcos Chamon, Kai Liu, and Eswar Prasad, “Income Uncertainty and Household Savings in China,” IMF Working Paper WP/10/289, December 2010; Robert Shiller, “The Difference in Savings Rates Between China and the U.S.,” Economist’s View, August 25, 2006; Guonan Ma and Wang Yi, “China’s High Saving Rate: Myth and Reality,” Working Paper 312, Bank of International Settlements, June 2010.

19. MP Dunleavy, “How Teens Get Sucked into Credit Card Debt,” MSN Money Central, May 31, 2006; “Many Teens Carrying Credit and Debit Cards,” Associated Press, April 14, 2005.

20. John Taylor, Donald A. Lloyd, and George J. Warheit, “Self-Derogation, Peer Factors, and Drug Dependence among a Multiethnic Sample of Young Adults,” Journal of Child and Adolescent Substance Abuse 2006: 15 (2) 39–51.

21. Dan Pink, TED Global, July 2009.

22. Jane Krieger, “What Price Fame—to Dr. Salk; The Man Who Developed the Polio Vaccine and Became Almost a Folk Hero Overnight Is a Public Figure against His Will. His One Thought Is to Get Back to His Laboratory,” New York Times, July 17, 1955.

23. Stephan Chapman, “New Bill Gates Interview: ‘Legacy Is a Stupid Thing! I Don’t Want a Legacy,’” ZDNet, June 12, 2011; Steve Jobs, 2005 Commencement address at Stanford University.

24. Gordy Slack, “Source of Human Empathy Found in Brain,” New Scientific Magazine Issue 2629, November 12, 2007; J. Decety, J. K. Michalska, and Y. Akitsuki, “Who Caused the Pain: A Functional MRI 2008 Investigation of Empathy and Intentionality in Children,” Neuropsychologia, 46, 2607–2614.

25. National Human Genome Research Institute, Genetic Variation Program, June 29, 2010, www.genome.gov/110081551#1; National Human Genome Research Institute, International HapMap Project, October 31, 2010, http://www.genome.gov/10001688.

26. First Individual Diploid Human Genome, J. Craig Venter Institute, September 3, 2007.

Chapter 3. Meritocracy

1. National Crime Records, India January 16, 2010.

2. Surya Prasai, People’s Review, February 19, 2011.

3. UNICEF 2009.

4. “The Cry of Blood,” Report on Extra-Judicial Killings and Disappearances, Kenya National Commission on Human Rights, September 2008.

5. Clifford J. Levy, “Russia’s Leaders See China as Template for Ruling,” New York Times, October 17, 2009.

6. “Corruption Breeds Poverty,” Nation, April 4, 2011; “Acute Causes of Poverty,” MSU Women and International Development; Causes of Poverty in the Philippines, Chapter 6, Asian Development Bank; George Abed and Sanjeev Gupta, “Governance, Corruption, and Economic Performance,” International Monetary Fund, September 23, 2002.

7. Mark Jacobson, “The Singapore Solution,” National Geographic, December 2009.

8. Andrew Mango, Atatürk: The Biography of the Founder of Modern Turkey (New York: Overlook Press, 2002).

9. Amet Bakir, “Atatürk’s View on Education,” Republic of Turkey, Ministry of National Education, 2002. http://www.meb.gov.tr/Stats/apk2001ing/Section_0/AtaturksViewon.htm.

10. The World Bank: The World Development Indicators Database—Gross Domestic Product 2009, September 2010; IMF World Economic Outlook Database April 2011, GDP per capita and GDP-PPP per capita estimates for Turkey.

11. Fareed Zakaria, The Future of Freedom: Illiberal Democracy at Home and Abroad (New York: W.W. Norton and Company, 2003), 92.

12. Mark N. Franklin, “Electoral Participation,” in Controversies in Voting Behavior, 4th ed., eds. Richard Niemi and Herbert Weisberg (Washington, DC: CQ Press, 2001).

13. Lawrence Lessig, “Citizens United at One: The Change American Democracy Does (and Does Not) Need,” speech given at All Souls Unitarian Church, New York City, April 29, 2011.

14. Kristi Oloffson, “A Brief History of Filibusters,” Time, November 2, 2009.

15. China Vitae 2011.

16. “Communist Party Chief of Chongqing,” Xinhua, August 31, 2007; Kent Ewing, “Bo Xilai, China’s Brash Populist,” Asia Times, March 19, 2010.

17. Daniel Kaufman, Director of Global Governance, World Bank, http://allafrica.com/stories/200412140044.html.

18. Kenneth Schortgen Jr., “George Soros Uses Empire to Purchase and Influence Mainstream Media,” Examiner.com, May 13, 2011; Alexander Lynch, “US: The Media Lobby,” Alternet, March 2005; Sebastian Jones, “The Media Lobbying Complex,” Nation, March 1, 2010.

19. Sarah Philips, “Politburo Profiles,” Guardian, October 27, 2007.

20. Tim Reid, “SEC’s Revolving Door to Wall Street Gets Fresh Scrutiny,” Reuters May 13, 2011; OpenSecrets.org.

21. Hardball, MSNBC, http://hotair.com/archives/2007/10/25/video-bushies-committed-treason-by-outing-me-says-plame/.

22. “Halliburton’s Iraq Role Expands,” BBC News, May 7, 2003, http://news.bbc.co.uk/2/hi/business/3006149.stm.

23. Daniel Gross, “The Captain of the Street,” Newsweek, September 20, 2008.

24. “No Line Responsibilities,” Wall Street Journal, December 3, 2008; Michael Fonte, “Robert Rubin Angling for Big China Fish,” Taipei Times, November 7, 1999.

25. Philip Rucker and Joe Stephens, “White House Releases Financial Disclosure Forms,” Washington Post, April 3, 2009.

26. “Peter Orzag to Join Citi as Vice Chairman in Global Banking,” Citi, December 9, 2010.

27. Dan Freed, “Goldman Sachs’ Favorite Lapdog,” Street, May 26, 2011; Peter Truell, “A Fed Official’s Romance Raises Issue of Conflict,” New York Times, April 9, 1997.

28. Robert Pear, “Health Industry to Hire Medicare Chief,” New York Times, December 3, 2003.

29. National Corruption Index, May 19, 2008.

30. Sourcewatch, http://sourcewatch.org/index.php?title=Bennett_Raley; “The Ungreening of America: Behind the Curtain,” Mother Jones, September/October 2003, http://motherjones.com/politics/2003/09/ungreening-america-behind-curtain.

31. “Americans Mistrust Politicians on Economy,” Angus Reid Public Opinion Poll, November 29, 2008.

32. Aaron Task, “Americans’ Mistrust of Government Is Rational and Warranted, but also Dangerous,” Yahoo! Finance, March 16, 2010.

33. Jack Spencer, “The Gulf Coast Oil Spill: Does the Federal Government Share Responsibility?” The Heritage Foundation, May 12, 2010, http://security.nationaljournal.com/contributors/michael-brown.php.

34. “Regulatory Failure Contributes to Eco-Disaster in the Gulf,” Center for Progressive Reform, http://www.progressivereform.org/BPOilSpill.cfm.

35. Dan Froomkin, “Regulatory Capture of Oil Drilling Agency Exposed in Report,” Huffington Post, September 8, 2010.

36. Face to Face, January 18, 2011.

37. CNN Poll: Majority Says Government a Threat to Citizens’ Rights. February 26, 2010; “Poll Cites Rising Distrust of Government in America,” CNN Politics, April 19, 2010.

38. Dane Smith, “Leaving through the Lobby,” Star Tribune, December 29, 2003; Bob Collins, “Should There Be a Restriction on Lobbying by Ex-Lawmakers?” Newscut, December 8, 2009.

39. Publishersglobal.com and China International Publishing Group; Robert Lawrence Kuhn, How China’s Leaders Think: The Inside Story of China’s Reform and What This Means for the Future (Hoboken, NJ: Wiley, 2009), 317.

40. Peter Francia and Paul Herrnson, “Begging for Bucks,” Campaigns and Elections, April 1, 2001.

41. Eric Appleman, “Presidential Campaign Finance,” George Washington University, 2009.

42. Paritosh Bansal, “TARP Loss Revised Down to $89B,” Reuters, April 12, 2010.

43. United States Department of Justice, http://www.justice.gov/pardon/statistics.htm.

44. Fareed Zakaria, The Future of Freedom: Illiberal Democracy at Home and Abroad (New York: W.W. Norton and Company, 2003), 180.

45. Ibid., 181.

46. Ibid., 198.

47. “How to Fight a Crisis,” Socialism Today, March 9, http://www.socialismtoday.org/126/fight.html.

Chapter 4. Five-Year Plans

1. Nassim Taleb, The Black Swan: The Impact of the Highly Improbable (New York: Random House, 2007), 1.

2. Barry Schwartz, The Paradox of Choice: Why More Is Less (New York: Harper Perennial, 2004), 75.

3. “China Develops New Maglev Train,” China Daily, May 15, 2006.

4. Michael Cooper, “U.S. Infrastructure Is in Dire Straits, Report Says,” New York Times, January 27, 2009.

5. Charles Philips, Laura Tyson, and Robert Wolf, “The U.S. Needs an Infrastructure Bank,” Wall Street Journal, January 15, 2010.

6. Winnie Hu, “A School District with Officials but No Schools? New Jersey Has Them,” New York Times, November 15, 2006.

7. “‘Disabled’ Cop’s New Payday,” New York Post, August 17, 2010, http://www.nypost.com/p/news/opinion/editorials/disabled_cop_new_payday_iktM0mCWumOl65iGz1JWQJ.

8. Molly Petersen, “Google Growth May Depend on Lobby Outflanked by Foes,” Bloomberg, June 6, 2007; Naomi Klein, “The Summit That Couldn’t Save Itself,” Guardian, September 4, 2002; “State of Entrepreneurship Address,” Kauffman Foundation, January 19, 2010.

9. Science Park and Innovation Center.

10. Editor, China Tech News, July, 8, 2010.

11. “Innovation Tops Hu Jintao’s Economic Agenda,” Xinhua News, October 15, 2007, http://news.xinhuanet.com/english/2007-10/15/content_6883390.htm; Marguerite Gong Hancock and George Krompacky, “The Rise of China: Changing Patterns of Global Innovation and Entrepreneur-ship,” Stanford Program on Regions of Innovation and Entrepreneurship, January 1, 2007.

12. “Wolters Kluwer CEO Says ‘Explosive’ China Lawyer Growth Will Fuel Sales,” Bloomberg News, August 30, 2010, http://www.bloomberg.com/news/2010-08-31/wolters-kluwer-says-explosive-china-growth-fuels-sales-for-law-firms.html.

13. Jonathan Watts, “China Puts Its Faith in Solar Power with Huge Renewable Energy Investment,” guardian.co.uk, May 26, 2009.

14. Lori Ann LaRocco, “China: A Country of Imitation or Innovation?” Wall St. Cheat Sheet, January 25, 2011.

15. Center for China and Globalization, www.ccg.org.cn/en/center.asp.

16. Hannah Seligson, “American Graduates Finding Jobs in China,” New York Times, August 10, 2009; Chen Jia and Lu Chang, “American Students Chase China Dream,” China Daily, January 21, 2011; Katherine Dorsett, “Should You Look for Work in China?” CNN, January 17, 2011.

Chapter 5. Special Economic Zones

1. World Trade Organization, Press Release, April 7, 2011, http://www.wto.org/english/news_e/pres11_e/pr628_e.htm#atable3.

2. “Cal Poly Engineering Students Win First Shell Eco-Marathon,” April 17, 2007.

3. Jennifer Manning, “Membership of the 111th Congress: A Profile,” Congressional Research Service, November 19, 2010; Doug Trapp, “The Newest Doctors in the House: Physicians Become Legislators,” American Medical News, February 23, 2009.

4. Jack Ewing and Liz Alderman, “Deutche Bank’s Chief Casts Long Shadow on Europe,” New York Times, June 22, 2011; Dawn Kopecki, “Dimon Challenges Bernanke in Wall Street Bid to Tame Regulators,” Bloomberg News, June 9, 2011.

5. Pew Research Center, “Economy, Jobs Top Public’s Policy Agenda,” January 20, 2011, http://pewresearch.org/pubs/1865/poll-public-top-policy-priorities-2011-health-care-reform-repeal-expand.

6. CBO monthly budget review, September 2009.

7. “Bird Rescue Experts Kept on Sideline After Gulf Oil Spill,” St. Petersburg Times, September 6, 2010.

Chapter 6. Real Economy First

1. Kevin Phillips, American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century (Farmington Hills, Michigan: Thorndike Press, 2006), 268.

2. Robert Shroeder, “Goldman, Morgan to Become Holding Companies,” MarketWatch, September 21, 2008.

3. David Cho, “Banks ‘Too Big to Fail’ Have Grown Even Bigger,” Washington Post, August 28, 2009; Karen Weise, “Banks ‘Too Big to Fail’ Could Get Bigger,” Businessweek, April 7, 2011.

4. Robert Gavin, “As Bain Slashed Jobs, Romney Stayed to Side,” Boston Globe, January 27, 2008; Robert Dallos, “Sky High Airline Debt Feeds Air Safety Debate: Transportation: Leverage Buyouts and Takeovers Have Left U.S. Air Carriers More Heavily in Debt Than Ever, Raising Concerns That Cost Cutting Could Lead to Inadequate Staffing, Poor Aircraft Maintenance, and Endanger Passengers,” Los Angeles Times, October 22, 1989.

5. William Dudley, “The Economic Outlook and the Fed’s Balance Sheet: The Issue of ‘How’ versus ‘When,’” Federal Reserve of New York, July 29, 2009; Federal Reserve Statistical Release H.4.1, “Factors Affecting Reserve Balances,” Federal Reserve, June 9, 2011.

6. Deborah Levine, “Corporate Bond Yields Touch Record Low: BofA,” MarketWatch, July 23, 2010.

7. Saijel Kishan, “Hedge Fund Manager O’Shea Says Fed Risks Losing Credibility with Asset Purchases,” Bloomberg, September 8, 2010; “Federal Reserve’s Bernanke’s Credibility on Line with New Move,” Washington Post, November 1, 2010.

8. Michael Snyder, “19 Reasons Why the Federal Reserve Is at the Heart of Our Economic Problems,” Daily Markets, March 31, 2011.

9. Jason Simpkins, “Emerging Markets Consider Capital Controls to Combat ‘Hot Money’ Inflows,” Money Morning, November 20, 2009; “Cheap Money Driving Commodity Boom: BOJ,” Business Spectator, February 2011.

10. “CNBC Poll: Is Commodities Speculation Driving up Food Prices?” April 26, 2011; Rachel Beck, “Institutional Money Drives up Commodities,” Associated Press, May 31, 2008.

11. Reuters, February 23, 2011, http://uk.reuters.com/article/2011/02/23/wallstreet-bonuses-idUKN2317972120110223?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews.

12. “Goldman Sachs 2009 Pay up as Profit Soars,” MSNBC, January 21, 2010; Jill Treanor, “Goldman Sachs Bankers to Receive $15.3B in Pay and Bonuses,” Guardian, January 19, 2011.

13. G. William Domoff, “Wealth, Income, and Power,” Who Rules America? September 2005 (updated July 2011), http://sociology.ucsc.edu/whorulesamerica/power/wealth.html.

14. Lex Team, “China Hedge Funds,” Financial Times, September 1, 2010.

15. Triennial and Semiannual Surveys, Bank of International Settlements, November 2010.

16. News Release, Bureau of Economic Analysis, January 28, 2011, http://www.bea.gov/newsreleases/national/gdp/2011/pdf/gdp4q10_adv.pdf.

17. Vincent Bevins, “Just How Dependent Is Brazil on Chinese Demand?” Financial Times, August 16, 2010; Sarah Childress, “IMF Lifts Africa Growth View,” Wall Street Journal, October 26, 2010.

18. Nouriel Roubini, “Beijing’s Empty Bullet Trains,” Slate, April 14, 2011; Vivian Giang and Robert Johnson, “108 Giant Chinese Infrastructure Projects That Are Reshaping the World,” BusinessInsider, June 8, 2011.

19. Bill Gertz, “Financial Terrorism Suspected in 2008 Economic Crash,” Washington Times, February 28, 2011.

20. Megan Barnett, “An Einhorn in Her Side,” Portfolio, May 23, 2008.

21. Alice Gomstyn, “High Flying Hedge Funds See Dark Days,” ABC News, September 26, 2008; Alistair Barr, “Naked Short Selling Is Center of Looming Legal Battle,” MarketWatch, June 14, 2006.

22. David Barboza, “New Investment Tools Approved by Regulator in China,” New York Times, January 8, 2010.

23. Victor Mallet, “China Promises to Buy Spanish Bonds,” Financial Times, January 3, 2011; Ingrid Melander and Harry Papachristou, “China’s Wen Offers to Buy Greek Debt,” Reuters, October 2, 2010; Victor Mallet and Peter Graham, “Traders Make $8B Bet Against the Euro,” Financial Times, February 8, 2010.

24. John Makin, “Emerging Markets Are Importing Fed Monetary Policy,” Economist, November 12, 2010.

25. James Neuger, “Euro Breakup Increases as Germany Loses Proxy,” Businessweek, May 14, 2010.

26. Forex Basics: Leverage, Trader Choice FX, http://www.traderschoicefx.com/forex-trading-basics/leverage.html.

27. Tetsushi Kajimoto and Yuko Yoshikawa, “Japan Vice Finmin: G7 Ready to Act Again to Curb Speculation,” Reuters, March 18, 2011.

28. Statement from G7 and Central Bank Governors, March 18, 2011.

29. Ewen MacAskill, “Isaeli-US Cyber Attack on Iran’s Nuclear Facilities Heads Off US Strike,” IrishTimes, January 17, 2011.

30. Catherine Rampell, “U.S. Corporate Profits Were the Highest on Record Last Quarter,” New York Times, November 23, 2010; Annie Lowrey, “More Profits, Fewer Jobs,” Slate, March 28, 2011.

31. Jonathan Huebner, “A Possible Declining Trend for Worldwide Innovation,” Technological Forecasting and Social Change, vol. 72, issue 8, October 2005.

32. Mancur Olson, The Rise and Decline of Nations: Economic Growth, Stagnation, and Social Rigidities (New Haven, CT: Yale University Press, 1984).

33. James Kanter, “European Solar Power from African Deserts?” New York Times, June 18, 2009; Kate Connolly, “German Blue Chip Firms Throw Weight Behind North African Solar Project,” Guardian, June 16, 2009.

34. Statistics about Business Size (including Small Business) from the U.S. Census Bureau, Employment Size of Firms, Table 2a, http://www.census.gov/econ/smallbus.htm.

35. Laurie Bernett, “Bass Brothers and Other Millionaires Take Advantage of SBA Loan Programs,” January 12, 2009; John J. Sanko and David Milstead, “CAPCOs Draw More Heat,” Rocky Mountain News, October 29, 2003; “CAPCO, a Trojan Horse Scammed at Least 10 States,” Prowling Owl, 2010, http://www.prowlingowl.com/Scams/CAPCO/CAPCO.cfm.

36. “Cost to Bring Drug to Market: $802M,” Healthcare Economist, April 29, 2006, http://healthcare-economist.com/2006/04/29/802m/.

Chapter 7. Soft Power

1. Sharyl Attkisson, “Following the Aid Money to Haiti,” CBS News, July 12, 2010; “Haiti Tops World Corruption Table,” BBC News, November 6, 2006; Mojave Mike, “Why the U.S. Owns Haiti’s Hardship,” Daily Kos, January 14, 2010.

2. Carol Lancaster, Foreign Aid, 2007.

3. Carrie Kahn, “Haiti Aid Groups Criticized as Money Sits Unspent,” National Public Radio, January 11, 2011; Surendra Gangan, “Government Eye on NGO Money Laundering,” Daily News and Analysis, June 5, 2011; Anup Shah, “Non-Governmental Organizations on Development Issues,” Globalissues.org, June 1, 2005.

4. “Afghanistan: Report Says Foreign Aid Being Wasted, Billions Still Not Delivered,” Radio Free Europe, March 25, 2008; “How Haiti’s Aid Money Is Being Spent,” National Public Radio, January 8, 2011.

5. Linda Polman, “Easy Money: The Great Aid Scam,” Times, April 25, 2010; Barry Mason, “Africa Reports Expose Fraud of G-8 Pledges of Aid and Debt Relief,” August 15, 2006, wsws.org; David Kaufman, “Aid Effectiveness and Governance: The Good, the Bad, and the Ugly,” Brookings Institute, May 17, 2009; Aleksander Dardeli, “International Development Aid, Distrust, and Lesser Impact: An Overview on Civil Society Perspectives”; James Bovard, “Bush’s Foreign Aid Fraud, The Future of Freedom,” October 24, 2005; George Russell, “U.S. Ignored U.N. Aid Agency’s Fraud and Mismanagement,” FoxNews.com, January 1, 2010.

6. David Dollar, “Supply Meets Demand: Chinese Infrastructure Financing in Africa,” World Bank, July 10, 2008; “China Promises Billions in Aid, Loans to Africa,” Associated Press, November 8, 2009.

7. Wing-Gar Cheng and Xiao Yu, “China’s Hu Pledges More Investment, Loans in Africa,” Bloomberg News, November 4, 2006.

8. “U.S. Embassy Cables: African Countries Prefer Chinese Aid to US-China Cooperation,” Guardian.co.uk, December 4, 2010.

9. “Chinese Scholarships for Africans Set to Double,” China Daily, November 3, 2006, http://www.china.org.cn/english/education/187542.htm; Dr. Martyn Davies, “How China Delivers Development Assistance to Africa,” Centre for Chinese Studies, University of Stellenbosch, February 2008.

10. “Chinese Premier Pledges Funds, Aid to Africa,” Associated Press, November 8, 2009.

11. Comision Economica para America Latina (CEPAL); Nathan Gill, “China to Loan Ecuador $1B for Public Works, Expreso Says,” Bloomberg, June 14, 2011; “China Surpasses US as Brazil’s Biggest Investor,” Green-wood Management Growth Investments, April 4, 2011.

12. CNN wire staff, Bolivia’s President Says He Remains Afraid of U.S. Plot, CNN July 28, 2011, http://edition.cnn.com/2011/WORLD/americas/07/27/bolivia.morales.interview/index.html.

13. “Argentina, Brazil Condemn U.S. Bombing over Iraq,” March 22, 2003; “Brazil: Iraq, U.S. Guilty of Disrespect,” Newsmax, March 20, 2003.

14. “Chile: Chinese Vehicle Import Surge,” Just Auto, March 8, 2008.

15. Alan Cowell, “19 Countries to Skip Nobel Ceremony, While China Offers Its Own Prize,” New York Times, December 7, 2010.

16. Juan Forero, “China’s Oil Diplomacy in Latin America,” New York Times, March 1, 2005.

17. Martin Nkolomba and Zangose Chambwa, “Chinese Create 15,000 Jobs in Zambia,” The Lusaka Paper, December 27, 2009; “Chinese Businesses Create Jobs and Boost Trade in South Africa,” Brunei Times, September 20, 2010; “Angola and Mozambique to Create Jobs Through Chinese Scheme,” Ranstad, August 23, 2010.

18. “China’s Medical Aid to Africa,” CRI English, July 5, 2009; “China’s Barefoot Doctors an Inspiration to Africa: WHO,” People’s Daily, July 28, 2010.

19. Domenico Montanaro, “Patronage Pick Ambassador Quits; Derided as ‘Disaster,’ ‘Abysmal,’” MSNBC, February 4, 2011; Jeanne Cummings, “Obama Rewards Donors with Plum Jobs,” Politico, November 19, 2009.

20. Budget of the United States Government: Historical Tables, www.gpoaccess.gov/usbudget/fy10/hist.html; Fred Kaplan, “President Obama has Proposed the Largest Military Defense Budget Since World War II,” Slate, February 1, 2010.

21. President’s FY 2010 budget.

22. Robert Higgs, “The Trillion Dollar Defense Budget Is Already Here,” March, 15, 2007.

23. Li Jiao, “China Sets Huge R&D Boost,” Science Insider, July 7, 2009.

24. Gideon Rose, How Wars End (New York: Simon & Schuster, 2010), 3.

25. Gideon Rose, “Think Again: America Decline—This Time It’s for Real,” Foreign Policy, January/February 2011.

26. Fergus Hanson, The 2010 Lowy Institute Poll, Lowy Institute for International Policy.

27. Lesley Wroughton and Simon Rabinovitch, “G20 Parts Ways in Search of Lasting Recovery,” Reuters, June 27, 2010.

28. “Wikileaks Founder has Support of Icelandic MP Despite Sweden Rape Case,” IceNews, September 10, 2010.

29. Deutsche Welle, “German Foreign Minister Seeks Improved Relations with Russia,” November 20, 2009.

30. “Spain Signs Business Accords with China,” MENAFN-Arab News, January 7, 2011; “China Vows to Boost Cooperation with Greece,” Euronews, February 10, 2010.

31. Dave Wang, “How China Helped Shape American Culture: The Founding Fathers and Chinese Civilization,” Virginia Review of Asian Studies, 2010.

32. Bryony Jones, “What Is the Muslim Brotherhood?” CNN, January 28, 2011; “Profile: Egypt’s Muslim Brotherhood,” BBC, February 9, 2011.

33. Abayomi Azikiwe, “African Union Calls for End of NATO Bombing of Libya,” Pan-African Newswire, June 6, 2011; Henry Meyer, “Putin Stokes Libya Crusade Spat on NATO Bombing Anniversary,” Bloomberg, March 23, 2011.

34. Ammar Abdulhamid, “Defending America’s ‘Freedom Agenda,’” Project Syndicate, January 8, 2008.

35. Ray Tsuchiyama, “China Turns Its Focus to Africa,” Forbes, June 10, 2010.

36. Mary Beth Marklein, “A Culture Clash over Confucius Institutes,” USA Today, December 7, 2009.

37. Kelly Chung Dawson, “Confucius Institutes Enhance China’s International Image,” China Daily, April 4, 2010.

38. “316 Confucius Institutes Established Worldwide,” Xinhua, July 1, 2010, http://news.xinhuanet.com/english2010/culture/2010-07/13/c_13398209.htm.

39. Kelly Chung Dawson, “Confucius Institutes Enhance China’s International Image,” China Daily, April 23, 2010, http://www.chinadaily.com.cn/china/2010-04/23/content_9766116.htm.

40. “Alabama Signs Tougher Immigration Laws,” U.S. Election News, June 10, 2011, http://uselectionnews.org/alabama-signs-tougher-immigration-laws/853971/; Wang Jun, “More Chinese Flock to US Schools but at Steep Price,” China Daily, June 13, 2011.

41. Deborah Brautigam, “Is China Sending Prisoners to Work Overseas?” China in Africa: The Real Story, August 13, 2010; Lucy Ash, “China in Africa: Developing Ties,” BBC News, December 4, 2007.

42. Editorial Staff, “American Brain Drain: U.S.-Born PhDs Are Hard to Come by,” Wall Street Journal, November 27, 2007.

43. Madhavi, The Trajectory, http://thetrajectory.com/blogs/index.php/2009/12/shashi-tharoors-impressive-take-on-indias-soft-power/.

44. Samir Amin, Conversations with Harold Hudson Channer, April 21, 1991, http://www.channer.tv/wednesday.htm,%2006-30-10.htm.

45. “Department of Energy to Invest $366M in Energy Innovation Hubs,” December 22, 2009, http://energy.gov/articles/department-energy-invest-366m-energy-innovation-hubs; “MIT Partners in DOE-Funded Nuclear Energy Innovation Hub,” MIT News, June 4, 2010; Yael Borofsky, “Tracking a Rising Tiger,” speech given at Breakthrough Institute, November 11, 2005, and October 19, 2010.

46. Suresh Kumar, “The National Export Initiative and the Role of the Commercial Service,” February 23, 2011, speech given at NYU Kimmel Center.

47. “Europe Grapples with Youth Unemployment,” Financial Times, February 16, 2011; “Employment and Unemployment Among Youth Summary,” Bureau of Labor Statistics, August 27, 2010.

Chapter 8. Cocreating a Better World

1. World Bank report, April 8, 2009.

2. Kui Kuiyanjui, “Chinese Firm to Invest 9 Billion in Solar Power Plant,” Nairobi Business Daily, August 17, 2007; Princeton Lyman, “China’s Rising Role in Africa,” Presentation to the U.S. China Commission, July 21, 2005; Peter Bosshard, “China’s Role in Financing African Infrastructure,” International Rivers, May 14, 2007; Grace Augustine, “Chinese Activity in Africa, Part 2: The Path of Least Resistance,” Stanford Social Innovation Review, August 27, 2008; Tom Phillips, “Brazil’s Huge New Port Highlights China’s Drive into South America,” Guardian, September 15, 2010; Thomas Lum, Hannah Fischer, Julissa Gomez-Granger, and Anne Leland, “China’s Foreign Aid Activities in Africa, Latin America, and Southeast Asia,” Congressional Research Service, February 25, 2009.

3. Elizabeth Rosenthal, “African Huts Far from the Grid Glow with Renewable Power,” New York Times, December 24, 2010.

4. Michelle Faul, “China Solar Bids for African Business,” Associated Press, March 3, 2011; “China to Supply Solar Panels Countrywide,” Tanzania Daily News, April 15, 2010.

5. Sarah Boseley, “World Bank Poverty Drive a Failure, Says a Report,” Guardian, July 3, 2003; Mark Weisbrot, “Protests Keep Spotlight on IMF and World Bank Failures,” CommonDreams.org, September 25, 2000; Bryan Johnson, “The World Bank and Economic Growth: 50 Years of Failure,” The Heritage Foundation, May 16, 1996.

6. Shu-Ching Jean Chen, “Chinese Wage Increases Outpacing Economic Growth,” Forbes, July 2, 2007; Ying Diao, “China Provinces Raise Minimum Wages to Curb Disputes,” Bloomberg Businessweek, July 1, 2010.

7. “China to Boost Consumption, Domestic Demand,” Reuters, November 11, 2010, http://www.reuters.com/article/2010/11/12/g20-china-idUSASN00005020101112; “China Eases Tariffs to Boost Domestic Consumption,” People’s Daily, February 21, 2011.

8. “20 Facts about U.S. Inequality that Everyone Should Know,” The Stanford Center for the Study of Poverty and Inequality, June 2, 2011.

9. Natalie Erlich, “Chinese IPOs Top Nasdaq’s Foreign Market,” CNBC, October 29, 2010; Richard McCormack, “Growing Number of IPOs Bypassing U.S. Equity Markets,” Manufacturing and Technology News, September 1, 2005; Sue Chang, “Chinese IPOs Poised for Top Billing in U.S. Market,” MarketWatch, October 12, 2010; Soo Ai Peng, “China IPOs Seen Hitting Record High in 2010,” Reuters, July 5, 2010.

10. David Barriopedro, University of Lisbon, 2011.

11. Michael Lelyveld, “Coal Use Set to Soar,” Radio Free Asia, February 7, 2011.

12. China Daily, May 6, 2010, and September 20, 2010, http://new.gbgm-umc.org/media/newsletters/100921dlchinanewssummary.pdf.

13. Keith Bradsher, “China Outlines Plans for Making Electric Cars,” New York Times, April 10, 2009.

14. Yanli Zheng, Richard Sproat, Liang Gu, Izhak Shafran, Haolang Zhou, Yi Su, Dan Jurafsky, Rebecca Starr, Su-Youn Yoon, Accent Detection and Speech Recognition for Shanghai-Accented Mandarin, www.stanford.edu/~jurafsky/p1304.pdf.

15. Marc Gunther, “Warren Takes Charge,” CNN Money, April 13, 2009.

16. Charles Bagli, “Prefabricated Tower May Rise at Brooklyn’s Atlantic Yards,” New York Times, March 16, 2011.

17. “Beidou 1 Experimental Satellite Navigational System,” http://www.sinodefence.com/space/satellite/beidou1.asp.

18. Chris Oliver, “China, Russia to Drop Dollar in Bilateral Trade,” MarketWatch, November 23, 2010; Emma O’Brien and Artyom Danielyan, “Yuan-Ruble Trade Starts as Russia, China Shun Dollar,” Bloomberg Businessweek, December 15, 2010.

19. “Sarkozy Visits Obama in Campaign to Blunt Dollar’s Dominance,” Bloomberg Businessweek, January 7, 2011; “Reserve Accumulation and International Monetary Stability Report,” International Monetary Fund, April 13, 2010; Alex Newman, “BRICs Leaders Attack the United States Dollar,” New American, April 21, 2011.

20. Peter Goodman, “China Set to Reduce Exposure to the Dollar,” Washington Post, January 10, 2006; Brad Setser, “China Reduced Its Dollar Holdings in February,” Council of Foreign Relations, April 15, 2009.

21. “Turkey, China to Use Lira/Yuan in Bilateral Trade,” Reuters, October 8, 2010; “Brazil-China Bilateral Trade in Real and Yuan Instead of U.S. Dollar,” MercoPress, June 30, 2009; “China Starts Trading Malaysian Ring-git Against Yuan,” China News Asia, August 19, 2010.

22. Patricia Kuo and Shelley Smith, “McDonald’s Sets Benchmark for China with Yuan Bond Sale,” Bloomberg Businessweek, August 20, 2010.

23. United States Department of the Treasury, Bureau of the Public Debt, December 2010.

24. Credit and Liquidity Programs and the Balance Sheet, Federal Reserve, June 3, 2011.

25. Melvyn Goldstein, Journal of Asian Studies, May 1971.

26. “Facebook May Lead to Unhappiness,” ABC News, January 30, 2011.