China’s rise is altering global power relations, reshaping economic debates, and commanding tremendous public attention. Despite extensive media and academic scrutiny, the conventional wisdom about China’s economy is often wrong. Yukon Huang’s new book provides a holistic and contrarian view of China’s major economic, political, and foreign policy issues. The book addresses widely accepted yet misguided views regarding China’s economy including the implications of its debt and property market bubbles, trade and investment relations with Asia and the West, links between corruption and political liberalization and Beijing’s more assertive foreign policies. Huang explains that such misconceptions arise in part because China’s economic system is unprecedented in many ways and China’s size, regional diversity, and uniquely decentralized administrative system poses difficulties for making generalizations and comparisons.