X. L Woo 
Two Republics in China 

Mr. Woo continues his history of China from 1911, when the Qing dynasty was overthrown after the death of Empress Dowager Cixi, to modern times: a tumultuous century that saw chaos and warlords, invasions, regime change, confiscation of property, bold experiments, errors but also spectacular successes, and eventually the development of a mixed economy allowing some capitalist features. In fact, China now has more than 100 billionaires – but many families lost everything along the way.