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In 1999, China's Public Enemy No. 1 was "Fatty" Lai Changxing, an illiterate rice farmer turned real-estate and shipping mogul who fled the country, accused of heading a multibillion-dollar smuggling ring. This account, by a former Beijing bureau chief of the London Times, casts Lai's rise and fall as a cautionary tale of boomtown China. The author tours the remains of Lai's empire--a film studio built as a replica of the Forbidden City; a ...