This book vividly describes how Chinäs rise in the early 2000s led to rising profits and declining labor income everywhere, ultimately resulting in the global financial crisis. Under Deng Xiaoping¿s policy of ¿reform and opening up¿ in the 1980s, China quickly became the world¿s factory floor...but powerful political leaders envisioned a world in which the market economy would be trapped within the confines of a planned economy. With Chinäs admission into the World Trade Organization in 2001, almost a billion people joined the global workforce, driving down the real wages of blue- and white- collar workers in the US and Europe while also lowering interest rates,