The Visible Hand

A Chinese political economy bestseller, published in more than one and a half million copies, which systematically explains the mechanism of the functioning of the Chinese economy for the first time. The author reveals complex interconnections between macroeconomic trends, center-regional relations, the land and real estate market, public finances, the bureaucratic system, social inequality, the stock market, industrial development, and external trade imbalances in an accessible language. Through the prism of business cases from various industries and companies, it shows how the state attracts capital and invests it in development, not relying solely on the "invisible hand" of market forces. The objective root causes of serious structural problems in the Chinese economy, their impact on the global economy, and possible solutions are outlined. The book is based on the latest research and will be of interest to anyone fascinated by modern China, models of economic development (developmentalism), and international trade, as well as to anyone working with Chinese partners in a practical context.