China and the Rest Are Only Joining the American‐Built Order

American‐led globalization has enabled the third great powershift of the last five hundred years—the “rise of the rest” following on the rise of the West and then the rise of the US as the dominant power in the West. When China, India, Brazil, Turkey and the rest sit at the table of global power with the West what will the world order look like? Will it be post‐American? Will it be culturally non‐Western, but play by the same rules of an open international order laid down by the American's after World War II? In the following pages, leading American and Asian intellectuals ponder these questions.     

REASSESSING NONLINEARITY IN THE URBAN DISADVANTAGE/VIOLENT CRIME RELATIONSHIP: AN EXAMPLE OF METHODOLOGICAL BIAS FROM LOG TRANSFORMATION*

Sociologists and criminologists have become increasingly concerned with nonlinear relationships and interaction effects. For example, some recent studies suggest that the positive relationship between neighborhood disadvantage and violent crime is nonlinear with an accelerating slope, whereas other research indicates a nonlinear decelerating slope. The present paper considers the possibility that this inconsistency in findings is partially caused by lack of attention to an important methodological concern. Specifically, we argue that researchers have not been sensitive to the ways in which logarithmic transformation of the dependent variable can bias tests for nonlinearity and statistical interaction. We illustrate this point using demographic and violent crime data for urban neighborhoods, and we propose an alternative procedure to log transformation that involves the use of weighted least‐squares regression, heteroscedasticity consistent standard errors, and diagnostics for influential observations.     

Behind China＇s Liquidity Crisis

IN June, China suffered its worst liquidity crisis in over a decade. Fortunately, the Central Bank reversed the situation by extending liquidity operations to responsible financial institutions.     

The Rise of China＇s Global Companies

THE rise of individual Chinese companies to leadership positions in global competition is already well known. Lenovo is the world＇s largest PC producer. Haier is the world＇s largest household goods manufacturer. Huawei is the second largest producer of telecommunications equipment. Forbes magazine ranked ICBC as the world＇s overall number one company in 2013 by combined revenue, assets, profits and market capitalization.