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Economists and geologists have something in common. Geologists can trace the San Andreas Fault in chalk and tell you there’s going to be a major earthquake somewhere along that line—but they can’t say when. Economists, Lester Thurow included, know that the massive trade deficit the U.S. is building ...

Napoleon admonished the world to beware an awakened China. 200 years later, Lester Thurow traces the astonishing rise of this economic giant. In contrast to Russia, says Thurow, China solved the problem of moving from communism to capitalism in less than two decades. Starting in 1978, Chinese leader ...