The first in-depth account of the sudden growth of China’s sovereign wealth funds and their transformative impact on global markets, domestic and multinational businesses, and international politics.

This compelling book reveals China’s ambitious new strategy to reclaim the country’s past glory and reshape the geostrategic landscape in dramatic new ways.

Elizabeth Economy’s The Third Revolution: Xi Jinping and the New Chinese State argues that the intersection of Xi Jinping’s dual-reform trajectories—a more authoritarian and controlling system at home and a more ambitious and activist foreign policy abroad—provides Beijing with new levers of influence and power that the United States and others must learn to exploit and counter in order to protect and advance their own interests.