This book discusses important economic and social problems of China. It is based on the author's latest findings from his scholarly research on China's economy, his involvement with China's economic reform and development, and his personal contacts with Chinese academics, entrepreneurs, government officials and ordinary citizens for over thirty years. The book is written in a style accessible to the general reader, since most chapters are based on articles published in three major Chinese newspapers, of which the author is a columnist. It can also serve as a reference book for professionals and a supplementary text for university students. It has four parts covering economic problems, economic studies, economic policy and social problems that are relevant for our understanding of China today.