中國是否會落入發展陷阱？西方國家為何開始警戒「中國威脅」？中國重返資本主義世界之後，會帶來哪些理論挑戰？
本書針對中國與全球資本主義連結的模式，提出完整的解釋。台商作為「中間人」，促成中國從廣東賺取第一桶金，這桶美金作為「原始積累」，迂迴造成「中國崛起」。作者從全球價值鏈切入，指出「尋租發展型國家」，在經濟發展與財政攫取的過程中扮演關鍵角色。解釋架構連結了全球層次與在地層次，從宏觀到微觀，剖析政商關係的運作。並提出「機構化尋租」、「在地鑲嵌治理」、「公民身分差序」等概念，突破既有文獻對中國發展邏輯的理解。中國崛起的訣竅是「順著全球價值鏈打造世界工廠」，但目前「世界工廠」遭遇轉型困境，中國經濟何去何從？
This book proposes a comprehensive explanation of the connections between China and global capitalism. It was Taiwanese businessmen who, as intermediaries, made it possible for the Chinese to earn their first pot of gold in Guangdong province, indirectly bringing about the Chinese boom. The author uses global value chains as a springboard to explain how the “rent-seeking developmental state” has played a crucial role in the processes of economic development and value capture. This explanation links the global level to the local, the macro perspective to the micro, and dissects the intricate relationship between government and business in China. Concepts such as “institutional rent-seeking”, “locally embedded governance”, and “differential citizenship” are proposed as ways to shed new light on the developmental logic of China’s economy. The secret to China’s economic success has been “following global value chains to become the workshop of the world”, but in trying to upgrade itself the world’s workshop is facing serious difficulties. Where has China’s economy come from, and where is it headed? This book offers us a key.