Action plans, 201. See also Five-Year Plans
Aid money. See, Foreign aid
Al Jazeera, 196
Aldridge, Edward C., Jr., 71
Altruism, 28–29
Appeasement, 191
Atatürk, Mustafa Kemal, 57
Authority, 50–51. See also under Meritocracy
Availability bias, 80
Avis, 146
Avitabile, Tom, 81–82
Baldwin, Kristin, 210
Bank bailouts, 82
Banks and bankers, 107, 124, 145. See also Financial services; Financialization; Lehmen Brothers
Bernanke, Ben, 215
Bo Xilai, 63–64
BP oil spill, 72
Brand awareness, 232–233
Brautigam, Deborah, 177
Bretton Woods, 154
Bubble. See Economic bubble
Bureaucrats, planning done by, 103
Caesar, Julius, 194
Campaigns and Elections (Francia and Herrnson), 86
Capital punishment, 88–89
Capitalism, 126, 226. See also specific topics
with Chinese characteristics, 98–100
in real economy vs. financial community, 168
Carry trades, 147
Censorship. See also Freedom(s) Internet, 78–79
Certified Capital Companies (CAPCOs), 171
Chang, Iris, 3
Charity, 28–29
Cheney, Dick, 70
Chief executive officers (CEOs), 111, 119
China
2011 pro-democracy protests, 220
accomplishments, 9–10
civic ties, 193–195
courage to pursue comprehensive strategies, 99. See also Five-Year Plans
as game changer, 23–24
leaders, 13
military responses, 192
one-party system, 84–90
public relations, 232–233
relationship with United States, 187–189
tactics used with its neighbors, 192
what it has learned from the West, 20–21
Chinese Communist Party (CCP), 62, 78, 114–117, 152, 207. See also specific topics
bipartisanship and differences of opinion within, 84–85
and the one-party system, 84–90
Organizational Department, 62
Chinese culture compared with American culture, 26
Chongqing, 64
Chua, Amy, 27
Citizenship, 134
Civil liberties, 78–80. See also Freedom(s)
Collective bargaining, 40
Committee of Economic Development (CED), 113
Communist Revolution, xv–xvi, 12
Community Confucianism, 28–29
Compassion, 51–53
Competition, economic, 119
Conflicts of interest, 68, 69, 73–75, 92, 128
Confucian Institutes (CI), 193–194
Confucian philosophy, 26–28. See also specific topics
inconsistencies related to, 49–50
promotion of thrift and plain living, 45–49
United States and, 26
Consumer Price Index (CPI), 6
Consumerism, 45–46
Corrigan, E. Gerald, 71
Corruption, 39, 64–65, 182. See also Fraud
in China, 64, 67, 69, 77–78, 88–89, 234
defined, 64
exposing, 77–78
punishment for, 88–89
in United States, 69–71, 91, 106, 182
Council of Competitiveness, 118
Credit communes, 28–29
Credit default swaps (CDSs), 226
Crown Prince Party. See Princelings
Cultural Revolution, xvi–xvii, 89–90
Culture, bottom-up vs. top-down, 29
Currency manipulation, 14–15, 156–161
Currency(ies), 17–18. See also Exchange rates; Foreign exchange
single global currency vs. three regional currencies, 213–219
Darfur Conflict, 205
de Tocqueville, Alexis, 60
Defense Advanced Research Projects Agency (DARPA), 135
Delayed and deferred gratification, 93–95
Deming, W. Edwards, 15
definitions and conceptions of, 88–90, 92, 223
one-party system and Chinese form of, 88–90. See also Chinese Communist Party (CCP): and the one-party system
problems with and limitations of, 54–61, 69, 90–92, 222–225
Demos, 24
Deng Xiao Ping, 122, 126–127, 129
Deregulation, financial, 15, 144
Development aid. See Foreign aid
Diplomatic experts, 189–190
Dispersants (oil spills), 137
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, 100–101, 133, 141–142
Domoff, G. William, 151–152
Dot-com bubble, 144. See also Tech bubble
EB-5, 134
Economic bubble, 18–23, 125, 141f, 144
Economic growth, 96
Economic lab experiments, 126–130
Economic models and theories, 122–128, 130, 212–213
macroeconomic vs. microeconomic theories, 132–133
Economic programs, incentives for trying out, 134
Economic structure, 96–97
Economics, 122–126. See also specific topics
Economists, saltwater vs. freshwater, 132
Education
in United States, 40–43
Egypt, 181
Elastol, 136–139
Elders, respect for, 50–51
Election campaigning, 86–87. See also Campaign finance
Eleventh Five-Year Plan, 96–98
Emerging market economy (EME), 10
Empathy, 51–52
Engagement with noninterference, 180–181
Environment, 33, 97, 138. See also Green technology; Oil spills
Environmental sustainability, 206–213
Europe, 187
Exchange rates, 14, 129, 152, 154, 159, 161, 203
Exxon Valdez oil spill, 137
Facebook, 39
Failure, stigma of, 230–231
Falun Gong, 221–222
Federal Reserve, 70, 147–149, 154, 159, 167, 214, 215, 217–218
Fernandez, Stephanie, 209–210
Financial crisis of 2008, 2, 144, 187
causes, 70, 125–126, 140, 155–156
China and, 3, 18, 19, 22, 156, 185, 213
jobs lost in, 118
Financial deregulation, 15, 70, 144
Financial products and regulation, 155
Financial Reform Act. See Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
Financial Reform Bill, 142
Financial services, 140, 166–168, 172
masters of the universe, 141–145
private equity pirates, 145–146
traitorous traders, 147–150
Financial warfare, 158–162
Financialization, 22, 143–144, 172, 202
definitions, 142–143
saying no to, 152–156
secondary effects, 150–152
Five-Year Plans, 29, 95–98, 101, 103, 120, 202
Flash Crash of May 6, 2010, 103
Foreign aid, 6, 174–175, 177, 180–182
Foreign exchange, 14, 15, 149, 154, 159, 160, 162, 204, 213, 216
Foreign nationals, 134
Francia, Peter, 86
Fraud, 122–126. See also Corruption; Economic models and theories
Freedom(s), 78–80, 92, 168. See also Democracy
Freeman, Kevin, 157
Freshwater economists, 132
Fukuyama, Francis, 20
Garon, Sheldon, 39–40
Gender equality, 231–232
General Motors (GM), 131
General Technology Applications (GTA), 136–138
Gilens, Martin, 91
Gingrich, Newt, 4
Glass-Stegall Act, 142, 144, 166, 167
Goldman Sachs, 141
Government
citizens’ belief in their, 65–67
fairest type of, 219–227
increasing transparency in Chinese, 76–80
Government Band-Aids, 103–107
Green cards, 134
Green technology, 108, 168–169, 197–198, 207, 210–211
Gross domestic product (GDP), 11f, 153
Guangdong, 128–129
Haiti, 174–175
Hard power. See also Soft power defined, 178
Harmony, Confucian-style, 28–30
Hasky, Pierre, 34
Health care, 150–151
Hedge fund managers, 157–159
Herrnson, Paul, 86
Hierarchy, 50–51. See also under Meritocracy
Hong Kong, 129
Huebner, Jonathan, 162–165, 169
Human rights, 13, 55–56, 92, 205, 220–222
Human trafficking, 55
Humanitarian aid. See Foreign aid
Hurricane Katrina, 72
Igarashi, Fumihiko, 161
Immigration, 134
India, problems in, 55
Inflation, 6, 149, 159, 215, 218
Information technology, 163, 169
Infrastructure investment, 18–19, 107–108, 174, 176–177, 183, 203
Innovation, 108–109, 134–135, 197–198, 228–231. See also Intellectual property rights; Inventions and inventors; Technology
environmental sustainability and, 207–209
heading in the wrong direction, 162–166
stifling of, 162–170
Intellectual property rights (IPR), 109–113
International Monetary Fund (IMF), 22, 107, 123
Internet bubble. See Dot-com bubble; Tech bubble
Internet censorship, 78–79
Inventions and inventors, 47–48. See also Technology
Investigative journalism, 77–78, 80
Iroquois Confederacy, 114
Irving, Carol, 42
Japan
compared with China, 14–18
Jasmine Revolution in China, 220
Job market. See Labor market
Joint ventures (JVs), 130
Journalism. See also Media
freelance and investigative, 77–78, 80
government-subsidized, 83
Judicial system, 234
Knowledge economy, 17
Knowledge transfer, 117
Kupchan, Charles, 188
Latin America, 178–179
Lawyers, 110
Leadership, 13. See also Chief executive officers; Politicians
collective, 62–63
crisis of, 90
Lee Kwan Yew, 56
Lehmen Brothers, 143, 157, 166–167
Lessig, Lawrence, 87
Leverage (finance), 19, 144, 145, 167–168
Lewis, Michael, 3
Libyan civil war of 2011, 191–192
Literacy, 41–42
Loans, 104, 107, 147, 155–156, 170–171, 176–177
Local power, 113–115
Lost Decades (Japan), 14, 17–18
Ma Yan, 34
Malcomson, Dave, 176
Mandelbrot, Benoit, 212
Mao Tse Tung, 98, 127. See also Cultural Revolution
Market competition, 119
Market myopia, 102–103
Marshall Plan, 186
Marx, Karl, 126
Massing, Michael, 81
Media, U.S., 3. See also Journalism
hidden agendas and bias against China, 80–84, 180
spreading American culture and propaganda, 195–197
Meritocracy, 77
hierarchy, earned authority, and, 13, 61–69. See also under Confucian philosophy
qualifications and, 69–76
Military industrial complex, 135–136, 186
Military spending, 183–185, 219
Millennium Development Goals, 201–202
Money and wealth. See also specific topics
attitudes regarding, 38–39, 45–47
Money management, 157–159
Moore, Patrick Albert, 210–211
Munoz, Heraldo, 178
National Institutes of Health (NIH), 209
Natural resources, 97, 174, 206
Naturalization, 134
New Deal, 102
New York City, 151
No-fly zones, 191
Nobel Peace Prize, 233
Nongovernmental organizations (NGOs), 175, 183
Noninterference, engagement with, 180–181, 191
Nuclear power, 210–211
Obama, Barack, 233
administration, 77
on China, 4
election, 43
Office of Management and Budget (OMB), 101
Oil Pollution Act of 1990 (OPA 90), 137
Olson, Mancur, 165
Orszag, Peter, 70–71
Osteen, Joel, 40
Pai, Ajit, 185
Patient capital, 152–153
Patriot Act, 78–80
Peking University, xviii, 33–34, 85, 130, 193
Pensions, 106
People’s Liberation Army (PLA), 186
Pesticides, 138
Pettis, Michael, 85
Philanthropy, 28–29
Plutocracy, 69–70
Political action committees (PACs), 60, 87, 91
Political parties, 90. See also Chinese Communist Party (CCP): and the one-party system
Politicians, 13
approval ratings, 65–66
competence. See Meritocracy
U.S., 58–61
Politics and economics, 131–133. See also specific topics
Pollution, 137–138, 206–207, 211. See also Oil spills
Population, 97
Poverty and hunger, 124–125
Power
abuse of. See Corruption
women in positions of, 231–232
Pragmatism, 122
Princelings, 85
Prosperity theology/prosperity gospel, 40
Protests, 220
Public-private partnership (PPP) programs, 105, 108, 112–113
Public service and public life, 97
Railroads, high-speed, 99
Rajan, Raghuram, 35
Raley, Bennett, 71
Reality television shows, 39
Regulatory capture, 82
Research and development (R&D), 17, 109, 185, 208–210
Resource allocation, 18–19, 104, 110, 116, 127, 140, 175, 217
Revolving door (politics), 68, 73–75
Risk-taking, 230
Roemer, Buddy, 91
Roman Empire, 194
Roossin, Paul, 164
Ross, Carne, 113
Salk, Jonas, 47
Saltwater economists, 132
Sanctions, 192
Savings rate, 45–46
Scholarly activities, pursuit of, 35–36, 43–45, 49. See also Education
Schumacher, E. F., 112–113
Schumpeter, Joseph, 165
Science, 32–33, 42–43, 47, 150. See also Research and development
Science parks. See Technology parks
Scully, Thomas, 71
Sex trafficking, 55
Short-termism/short-term thinking, 93–95, 102–104, 112–114, 118–121, 210. See also Five-Year Plans
Small Business Administration (SBA), 170–171
Small Business Investment Companies (SBIC), 170–171
Social responsibility, 38
Soft power, 191
American investment in hard power vs., 177–178, 183, 186, 187, 194–195
China’s strategy of, 177–179, 186, 187, 193, 195, 198–199
cultivating, 198–199
effectiveness, 177
media and, 196
trust and, 197
Soros, George, 158–159, 212–213
Spain compared with United States, 6
Special Economic Zones (SEZs), 127–130, 132, 134, 139
Speculation, 112, 142, 147–148, 153, 159–162, 167, 216, 226
Speziale, Jerry, 106
Stagflation, 215
Stanford marshmallow experiment, 93
State-owned enterprises (SOEs), 130–131
Stock markets, 148, 153. See also Speculation
Summers, Lawrence, 70
Sunkuli, Julius Ole, 176
Syria, 192
Talent
defined, 115
desire for an industrial talent policy, 117–119
poaching, 115–117
Teachers, attitudes toward, 31, 41
Tech bubble, 125. See also Dot-com bubble
Technology, 150, 163. See also Education; Innovation; Intellectual property rights; Inventions and inventors; Research and development
Technology parks, 110–111
Ten-Year Plan, 115
Terrorism and national security, 78–79, 114–115, 161–162, 182, 185
Third-party candidates, 90
360-degree evaluations, 74
Tiananmen Square, 220
Tibet, 220–221
media reporting on, 221
Tibetan unrest (2008), media reporting of, 80–81
“too big to fail” (TBTF), 124, 142, 167
Total quality management (TQM), 15
Trade between China and U.S., 16, 129. See also Currency(ies); Foreign exchange
Trading (financial instruments), 153–154, 158
“Tragedy of the commons” economic theory, 130
Tuanpai, 85
Turkey, 57
Twelfth Five-Year Plan, 29, 98
United States
areas for improvement, 5–6
challenging test of will facing, 4
fair- and foul-weather friends and enemies of, 187–190
investing in, 107–109
needs a policy overhaul, 182–187
needs to extend more seats at the table, 189–193
political dystopia, 58–61
public relations, sales, and propaganda, 195–199
two Americas, 37–40
United States Congress, strong-arming exercises in, 60
United States government. See also specific topics
fogginess, 100–102
hatchery, 170–172
shortsightedness, 210. See also Short-termism/short-term thinking
two-party system, 86–87
Universal Declaration on Human Rights (UDHR), 84
U.S. Agency for International Development (USAID), 177, 183, 203
Value system, postmodern, 38–39
Venture capital (VC), 28, 33, 109–111, 136, 170–171, 230
Vietnam War, media reporting of, 81–82
Volatility rule, 229
Volunteerism, 28–29
Wall Street reform. See Financial Reform Bill
“Wall Street’s House of Cards” (Lee), xviii
Wang Keqin, 77
Wealth. See Money and wealth
Wedel, Janine, 69
Wen Jiaobao, xii, 76–77, 207, 234
WikiLeaks, 84
Women, 231–232
Work ethic, 35, 45–47. See also Education
Xi Zhongcun, 129
Xinran, 34
Yan Ying, 45
Yao Qun, xvii
Young Presidents’ Organization (YPO), 230
Yuan. See Currency(ies)
Zhao Ziyang, 67
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