Overview

Between the 1980s and the present day, China has experienced one of the most consequential economic transformations in world history. One-fifth of the Earth's population has left behind a life of scarcity and subsistence for one of abundance and material comfort, while their nation has emerged as a preeminent economic and political power. In a systematic historical and sociological analysis of this unique juncture, Wang Feng charts the origins, forces, and consequences of this meteoric rise in living standards. He shifts the focus away from institutions and policies to offer new perspectives based on consumption among poorer, rural populations as a driver of global economic change. But is this 'Age of Abundance' coming to an end? Anticipating potential headwinds, including an aging population, increasing inequality, and intensifying political control, Wang explores whether this preeminence could be coming to a close.

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9781009444897

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Reviews

'Wang uses a lens of consumption patterns to superbly tell a unique history of China's economic rise, deconstructing the myth of a 'China development model' in the process. Wang also interrogates what will happen to China's age of abundance as population ageing and structural welfare imbalances inflict their toll, and why the rest of the world should care. Rich in its globally comparative probing, this lively book speaks to a diverse readership.' Rachel Murphy, University of Oxford 'Clear and insightful, Wang Feng's Age of Abundance offers a fresh and intriguing perspective on China's epic economic rise - and the challenges ahead.' Michael Shuman, the Atlantic Council 'This book grounds the so-called 'Chinese miracle' in a combination of demographic and political circumstances that were certainly unusual, but very much understandable – at least with the benefit of Wang Feng's very capable guidance. Showing us both how so much of China's cheap labor became good labor and how it was kept artificially cheap even after it became highly productive, he helps us see how the country's spectacular growth happened, why its benefits have been shared so unequally, and why rapid growth has now become so difficult to sustain. An excellent, highly readable, overview of one of the most important phenomena of our time.' Kenneth Pommeranz, University of Chicago 'Will China resume economic growth, surpass the United States, and become the leading global economy? Or has the Chinese economy peaked, with serious obstacles that will obstruct China's rise? Any attempt to address this debate needs to consider this impressive new book by Wang Feng, which provides novel perspectives on the origins of China's post-1978 boom and measures of where the country stands today in terms of consumption levels, health indicators, educational attainment levels, and much else; all providing the basis for a sober assessment of China's future.' Martin K. Whyte, Harvard University

Author Information

Wang Feng is a Professor of Sociology at the University of California, Irvine.

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