Book cover of China's Gilded Age by Yuen Yuen Ang
Asia

China’s Gilded Age

Why has China grown so fast for so long despite vast corruption? In China’s Gilded Age, Yuen Yuen Ang maintains that all corruption is harmful, but not all types of corruption hurt growth. Ang unbundles corruption into four varieties: petty theft, grand theft, speed money, and access money. While the first three types impede growth, access money – elite exchanges of power and profit – cuts both ways: it stimulates investment and growth but produces serious risks for the economy and political system. Since market opening, corruption in China has evolved toward access money. […Learn More]

Business & Money

The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources

The modern world is built on commodities – from the oil that fuels our cars to the metals that power our smartphones.

We rarely stop to consider where they have come from. But we should.

In┬áThe World for Sale, two leading journalists lift the lid on one of the least scrutinised corners of the world economy: the workings of the billionaire commodity traders who buy, hoard and sell the earth’s resources. […Learn More]