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The Chinese Century

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The Chinese Century

The Rising Chinese Economy and Its Impact on the Global Economy, the Balance of Power, and Your Job

Wharton School Publishing,

15 min read
10 take-aways
Audio & text

What's inside?

China is transforming global economics and politics, but its biggest impact will hit the United States. Are you ready?

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Editorial Rating

7

Qualities

  • Applicable

Recommendation

This is an important book for anyone doing business with China or facing a competitive threat from the world's most rapidly expanding economy. Author Oded Shenkar presents the forces that have made China a global economic powerhouse. He explains how it uses fair and unfair competitive advantages to muscle trading partners and manufacturers to get what it wants. This includes copying everything from technology to factory blueprints and training manuals so it can leapfrog ahead of other developing nations. Unofficially, China also encourages counterfeiting and smuggling as well as copyright violations. To compete, European and U.S. corporations must understand how the Chinese operate and develop new business plans. This dry text is not casual reading, but it provides important information about how to contend against a tough, rule-breaking competitor. getAbstract.com recommends this book to anyone doing business with or competing against China. Shenkar makes it clear that U.S. businesspeople must learn the new rules in the global marketplace. It's game time.

Summary

Rise of a Global Power

While Asian economies are improving significantly, China is not in the same category as the other "Asian Tigers" (South Korea, Singapore, Taiwan and Hong Kong) and Japan. China is in a class by itself. With 1.3 billion people, extensive natural resources, a strong financial and technological foundation, and an experienced émigré population, China is poised to become a world power and could surpass the U.S. as the world's leading economy within 20 years.

Experts disagree about the pace of China's growth. While some argue that its significant problems - poor financial infrastructure, lack of civil liberties and a weak service sector - could slow growth, few think such matters will derail China's economic engine. Today, China excels in labor-intensive production. It produces 70% of the world's toys, 50% of its bicycles and shoes, and 33% of its luggage. In textiles and garments, China's market share has been held back only by government tariff agreements. In electronics, China produces 50% of the globe's microwaves, 33% of its TVs and air conditioners, 25% of its washers and 20% of its refrigerators.

China plans to maintain its dominance in...

About the Author

Oded Shenkar chairs Global Business Management at the Fisher College of Business, Ohio State University. He has published numerous articles on international business and, China. He also has edited several books, including the Handbook for International Management Research and International Business.

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