NEW YORK TIMES BESTSELLER • The fast-paced inside story of America’s plunge into a volatile rivalry with the other two great nuclear powers—Xi Jinping’s China and Vladimir Putin’s Russia—from the Pulitzer Prize–winning journalist and bestselling author of The Perfect Weapon “[A] cogent, revealing account of how a generation of American officials have grappled with dangerous developments in the post-Cold War era . . . vividly captures Washington.”—The New York Times (Editors’ Choice) ONE OF NPR’S BEST BOOKS OF THE YEAR For years, the United States was confident that the newly democratic Russia and increasingly wealthy China could be lured into a Western-led order that promised prosperity and relative peace—so long as they agreed to Washington’s terms. By the time America emerged from the age of terrorism, it was clear that this had been a fantasy. Now the three powers are engaged in a high-stakes struggle for military, economic, political, and technological supremacy, with nations around the world pressured to take sides. Yet all three are discovering that they are maneuvering for influence in a far more turbulent world than they imagined. Based on a remarkable array of interviews with top officials from five presidential administrations, U.S. intelligence agencies, foreign governments, and tech companies, Sanger unfolds a riveting narrative spun around the era’s critical questions: Will the mistakes Putin made in his invasion of Ukraine prove his undoing and will he reach for his nuclear arsenal—or will the West’s famously short attention span signal Kyiv’s doom? Will Xi invade Taiwan? Will both men deepen their partnership to undercut America’s dominance? And can a politically dysfunctional America still lead the world? Taking readers from the battlefields of Ukraine—where Russia uses bullets from North Korea and drones from Iran—to the Taiwan headquarters where the world’s most advanced computer chips are produced and on to tense debates in the White House Situation Room, New Cold Wars is a remarkable first-draft history chronicling America’s return to superpower conflict, the choices that lie ahead, and what is at stake for the United States and the world.

Based on the most up-to-date sources, as well as extensive research and direct observation, Japan as Number One analyzes the island nation's development into one of the world's most effective industrial powers, in terms of not only economic productivity but also its ability to govern efficiently, to eduate its citizens, to control crime, to alleviate energy shortages, and to lessen pollution. Ezra Vogel employs criteria that America has traditionally used to measure success in his thoughtful demonstration of how and why Japanese institutions have coped far more effectively than their American counterparts.

Publisher's description: Robert Rubin was sworn in as the seventieth U.S. Secretary of the Treasury in January 1995 in a brisk ceremony attended only by his wife and a few colleagues. As soon as the ceremony was over, he began an emergency meeting with President Bill Clinton on the financial crisis in Mexico. This was not only a harbinger of things to come during what would prove to be a rocky period in the global economy; it also captured the essence of Rubin himself--short on formality, quick to get into the nitty-gritty. From his early years in the storied arbitrage department at Goldman Sachs to his current position as chairman of the executive committee of Citigroup, Robert Rubin has been a major figure at the center of the American financial system. He was a key player in the longest economic expansion in U.S. history.

The all-encompassing embrace of world capitalism at the beginning of the twenty-first century was generally attributed to the superiority of competitive markets. Globalization had appeared to be the natural outcome of this unstoppable process. But today, with global markets roiling and increasingly reliant on state intervention to stay afloat, it has become clear that markets and states aren’t straightforwardly opposing forces. In this groundbreaking work, Leo Panitch and Sam Gindin demonstrate the intimate relationship between modern capitalism and the American state, including its role as an “informal empire” promoting free trade and capital movements. Through a powerful historical survey, they show how the US has superintended the restructuring of other states in favor of competitive markets and coordinated the management of increasingly frequent financial crises. The Making of Global Capitalism , through its highly original analysis of the first great economic crisis of the twenty-first century, identifies the centrality of the social conflicts that occur within states rather than between them. These emerging fault lines hold out the possibility of new political movements transforming nation states and transcending global markets.

In a model study Jacob Price illuminates the dynamic growth of Britain’s foreign trade in the eighteenth century through an investigation of the investment patterns and credit institutions that financed that expansion. Concentrating on the trade between Britain and the Chesapeake tobacco colonies of Virginia and Maryland, for which a unique set of records exists, Price surveys the ways in which commerce developed and working capital was mobilized in Britain to support expanding overseas trade. Price develops the clearest picture ever of the financial environment within Britain as it affected Southern colonies in the preindustrial age. He does so by determining the kind of capital resources merchants in foreign trade actually commanded and measuring how much of their own wealth merchants brought to trade. In great and absorbing detail he discusses also the development of merchant-oriented banks in London and other ports, reinvestment of profits, long-term borrowing on bond, and the long-term credit provided to export merchants by wholesalers in textiles, ironmongery, and other industries. The relationship of debt to the coming of the American Revolution is also treated. Tobacco growers suffered more than others from a psychological unease caused by immense debt and were more revolutionary than farmers with less intensive capital needs and, hence, with lighter debt. This history will enlighten Anglo-American historians, economic historians, and historians of the American revolutionary era.

AT&T's divestiture was the largest corporate reorganization in history and has had international repercussions. It was a major development in American economic policy, and a prominent part of the deregulation movement of the late 1970s. This study reveals the internal decision-making process at AT&T and explains how private and public interests combined to shape corporate and public policy in late 20th-century America. Temin weaves the strands of politics, economics, business, and law into an accessible narrative history that will be of interest to the general reader who wants to know about government business interaction and how it affects American citizens. Temin portrays divestiture as a great experiment in public policy, competition, openness, and international policy. He concludes that the experiment has been a mix of deliberate design and uncontrollable forces whose outcome was not foreseen.

The evolution of the national security state in the United States can be traced from the political, military, and economic dimensions of American power in the postwar world. In Raskin's view, the United States emerged from the Second World War with tremendously increased prestige and material power, and American leadership created a national security apparatus as a planning instrument to ensure national stability, to mute class conflicts, and to secure the domestic economy. This state then became the basis around the world for covert and overt imperialism.The consensus that developed served to maintain stability at home and to guide the modern empire abroad. This development required a state that was orderly and that was predicated on modern bureaucracy, which operated within the values and assumptions of the ruling elites.The national security state system was successful primarily in the economic sphere, with bipartisan foreign-policy decision making aimed at ensuring a stable business climate at home and abroad. Military involvement in Indochina evidenced the decline of American hegemony; the genocidal nature of the arms race and the questions raised by protestors of the sixties signaled the break up of the national security consensus.Raskin concludes the book with an examination of alternative directions, especially regarding the need and the possibilities for renewed public debate of national policy and purpose.