The China Challenge

Who really creates wealth in our world? And how do we decide the value of what they do? At the heart of today's financial and economic crisis is a problem hiding in plain sight. In modern capitalism, value extraction is rewarded more highly than value creation: the productive process that drives a healthy economy and society. From companies driven solely to maximise shareholder value to astronomically high prices of medicines justified through big pharma's 'value pricing', we misidentify taking with making, and have lost sight of what value really means.

Most global citizens are well aware of the explosive growth of the Chinese economy. Indeed, China has famously become the "workshop of the world." Yet, while China watchers have shed much light on the country's internal dynamics - China's politics, its vast social changes, and its economic development - few have focused on how this increasingly powerful nation has become more active and assertive throughout the world.

Five billion people, two-thirds of the world's mega-cities, one-third of the global economy, two-thirds of global economic growth, 30 of the Fortune 100, six of the 10 largest banks, eight of the 10 largest armies, five nuclear powers, massive technological innovation, the newest crop of top-ranked universities. Asia is also the world's most ethnically, linguistically and culturally diverse region of the planet, eluding any remotely meaningful generalisation beyond the geographic label itself. Even for Asians, Asia is dizzying to navigate.

Why did humans abandon hunting and gathering for sedentary communities dependent on livestock and cereal grains and governed by precursors of today's states? Most people believe that plant and animal domestication allowed humans, finally, to settle down and form agricultural villages, towns, and states, which made possible civilization, law, public order, and a presumably secure way of living. But archaeological and historical evidence challenges this narrative.

For over 20 years, a select group of Yale undergraduates has been admitted into the year-long "Grand Strategy" seminar team-taught by John Lewis Gaddis and Paul Kennedy. Its purpose: to provide a grounding in strategic decision-making in the face of crisis to prepare future American leaders for important work. Now, John Lewis Gaddis has transposed the experience of that course into a wonderfully succinct, lucid and inspirational book, a view from the commanding heights of statesmanship across the landscape of world history from the ancient Greeks to Lincoln, and beyond.

According to conventional wisdom, innovation is best left to the dynamic entrepreneurs of the private sector, and government should get out of the way. But what if all this was wrong? What if, from Silicon Valley to medical breakthroughs, the public sector has been the boldest and most valuable risk taker of all?

The moments that it took Gavrilo Princip to step forward to the stalled car and shoot dead Franz Ferdinand and his wife were perhaps the most fateful of the modern era. An act of terrorism of staggering efficiency, it fulfilled its every aim: it would liberate Bosnia from Habsburg rule, and it created a powerful new Serbia, but it also brought down four great empires, killed millions of men and destroyed a civilization. What made a seemingly prosperous and complacent Europe so vulnerable to the impact of this assassination?

The Doomsday Machine is Ellsberg's hair-raising insider's account of the most dangerous arms buildup in the history of civilization, whose legacy - and renewal under the Obama administration - threatens the very survival of humanity. It is scarcely possible to estimate the true dangers of our present nuclear policies without penetrating the secret realities of the nuclear strategy of the late Eisenhower and early Kennedy years, when Ellsberg had high-level access to them.

Resuming the narrative of his Pulitzer Prize-winning Ghost Wars, best-selling author Steve Coll tells for the first time the epic and enthralling story of America's intelligence, military, and diplomatic efforts to defeat Al Qaeda and the Taliban in Afghanistan and Pakistan since 9/11.

The Future of War - which covers civil wars to as yet unknown nuclear conflicts, proxy wars (real) to the Cold War (not), fashionably small wars to the War to End All Wars (it didn't) - is filled with insight and fascinating nuggets of military history and culture from one of the most brilliant military and strategic historians of his generation.