Hu Angang's new book, On China’s Political and Economic History (1989-2002), the fourth in his magisterial series, provides a comprehensive description of China's reform, opening up and modernization during the crucial period when China’s path of political economy was set firmly for the future, establishing China’s unique form of a “socialist market economy” or “socialism with Chinese characteristics”. The book analyzes macroeconomic trends and assesses developmental characteristics of various sectors, all in the context of evolving national conditions, domestic politics and international perspectives. It explains the forces and logic behind major decisions such as “deepening” economic reform, expanding openness to the world, joining the World Trade Organization, and leveraging economic globalization. The book is rich in historical information and detailed data, and thus is an important reference for understanding the history of China's reform and opening-up policy; and it offers in-depth analysis and insightful argument, and thus is an astute guide for understanding the formation and development of the Chinese Way. Hu is an extraordinary scholar and a fearless advocate, and whether or not one agrees entirely with his views, all who engage with China’s political and economy history must engage with this masterful book.