Book of the week
“China risks getting stuck in the ‘middle income trap’ unless it completes economic reforms and opens up”
Empire of Silver A New Monetary History of China
Jin Xu (translated by Stacy Mosher) Yale University Press, £20
At the start of the 14th century, the explorer Marco Polo marvelled at the Chinese use of paper currency, an invention that would be unknown in western Europe for another 300 years.by the Chinese journalist Jin Xu, examines why this happened and how it affected the path of China’s economic development.
