Book Description
"Let China sleep, for when she wakes, she will shake the world." Napoleon's words seem eerily prescient today, as the shock waves from China's awakening reverberate across the globe. In China Shakes the World, the former China bureau chief of the Financial Times, James Kynge, traces these tremors from Beijing to Europe to the Midwest as China's ravenous hunger for jobs, raw materials, energy, and food -- and its export of goods, workers, and investments -- drastically reshape world trade and politics.
Delving beyond mere recitation of by-now-familiar statistics, Kynge's on-the-ground reporting provides alternative explanations for China's explosive transformation, revealing many of the usual reasons given for its growth to be myths. Most important for the future, he details China's deep, systemic weaknesses -- rampant fraud, crippling environmental crises, a corrupt banking system, faltering government institutions, a rapidly aging population -- that threaten even greater global disruptions. And he demonstrates the profound consequences of those weaknesses for American manufacturers, oil companies, banks, and ordinary consumers.
Through dramatic stories of entrepreneurs and visionaries, factory workers and store clerks at the heart of this global phenomenon, China Shakes the World explains how China's breakneck rise occurred, the extraordinary problems the country now faces, and the consequences of both for the twenty-first century.
Customer Reviews:
It is shaking me up now.......2007-10-16
I am Chinese, and of course I am attracted by the title. Finally, China get to shake the world a little too, what an accomplishment. Well, as I read the book, it is making me less and less proud of my motherland. The counterfeit product, the stealing of high-tech information, degradation of environment and the insitutionalized corruption are making my stomach turn. When 1/2 of the population is going at 80 miles an hour in the globalized world, the other half is being left behind by their own country. It makes me wonder, what will happen if the economy slow down in China? What will the people who had already tasted the fast world will do, and what will the ultra-dictatorship of the Ruling Communist party do, and what will the other half of the population that had been left behind do. This is a question worth pondering. Maybe, China is not as rosy as it projected to the rest of the world, and maybe people, or investors should listen to not just the official talking head, but what the people are doing. This is a good read, it will help with my school project too.
An enormous shift in geopolitical power.......2007-10-08
James Kynge analyzes and illustrates brilliantly the emergence of China as a major geopolitical power. He shows that the drastic shift in economic policies under Deng came from rural farmers who used creatively the concept `collective' to found private capitalist companies. The result is now a schizophrenic one party communist State with a capitalist economy. Its social stability can only be maintained with fast economic growth and job creation for its enormous population created by Mao's demographic policy.
The actual industrialization process causes massive population and gender shifts (urbanization resulting in a higher status for women), colossal energy demands (one Italy every year) and huge environmental problems (water, air). In a one party State, corruption and nepotism (with stolen identities) cannot be eradicated and provoke a declining trust in government.
Economically, corporations are mainly concerned with market share, not profits. They continue to (over) produce for the next surge in demand after every dip. They are also beginning to build consumer loyalty by branding their own products.
Internationally, the Chinese voracity created energy and commodities price surges worldwide. The end is not in sight. On the other hand, the bulk of the profits made with China's low cost factory army (no welfare) goes into the pockets of Western retail giants and their shareholders, leaving only 10 to 15 % for their Chinese counterparts. In the meantime, the deindustrialization of the Western world continues with massive job losses in the textile, car, computer and even the service industry.
Overall, however, China's economic development continues to benefit enormously world trade, notwithstanding the regularly surfacing accusations of protectionism, currency manipulation and rampant piracy. Politically, the problem of Taiwan is still not solved.
Mencius''ren' (benevolence) is not a basic ingredient of Chinese foreign policy, but the author believes that ultimately pragmatism and flexibility will have the upper hand.
This book is a must read for all those who want to understand the world we live in.
MBA Mom.......2007-07-15
I am full time Mom and just recently visited Beijing with my 2 young children and husband. As a result of our travels, all the news in the media regarding China, and my own personal experience with respect to my shopping purchase power and selection in the last many year, I was very interested in the "China story." This book is an easy read, and provides a good big picture. It reminds me of the center column in the Wall Street Journal... Too boot, well written, and excellent use of vocabulary.
Mom
Well written, informative book.......2007-06-01
This book is money and time well spent if you're interested in a contemporary survey of China.
Kynge really does an outstanding job with a complex topic. He has a journalist's nose for a story, is well connected in China, and the length of time he lived in the country allows him to really portray his observations in a sophisticated cultural and historical context. He nicely weaves in statistics and facts throughout the book without distracting from the narrative.
A Journalist's Eye.......2007-05-24
I've loved the lyrical quality of this book. It looks at the many problems facing China from the ground up and individual journalist's eyes. For a big picture view that is based more on economic analysis, see my own book: The Coming China Wars: Where They Will Be Fought and How They Can Be Won
Book Description
In 1945, many Europeans still heated with coal, cooled their food with ice, and lacked indoor plumbing. Today, things could hardly be more different. Over the second half of the twentieth century, the average European's buying power tripled, while working hours fell by a third. The European Economy since 1945 is a broad, accessible, forthright account of the extraordinary development of Europe's economy since the end of World War II. Barry Eichengreen argues that the continent's history has been critical to its economic performance, and that it will continue to be so going forward.
Challenging standard views that basic economic forces were behind postwar Europe's success, Eichengreen shows how Western Europe in particular inherited a set of institutions singularly well suited to the economic circumstances that reigned for almost three decades. Economic growth was facilitated by solidarity-centered trade unions, cohesive employers' associations, and growth-minded governments--all legacies of Europe's earlier history. For example, these institutions worked together to mobilize savings, finance investment, and stabilize wages.
However, this inheritance of economic and social institutions that was the solution until around 1973--when Europe had to switch from growth based on brute-force investment and the acquisition of known technologies to growth based on increased efficiency and innovation--then became the problem.
Thus, the key questions for the future are whether Europe and its constituent nations can now adapt their institutions to the needs of a globalized knowledge economy, and whether in doing so, the continent's distinctive history will be an obstacle or an asset.
Book Description
C. Fred Bergsten, Bates Gill, Nicholas R. Lardy and Derek Mitchell are the principal authors of this investigative analysis, full of new information and perspectives on China, the result of a year-long task force jointly sponsored by CSIS and IIE, to which distinguished China experts have contributed. It is accessible, narrative-driven, filled with facts, but written for the general reader. The expert judgments presented in China: The Balance Sheet will inform policymakers in Washington, scholars and the business community for years to come.
Customer Reviews:
Little, No Credibility!.......2007-01-11
Pg. 4: "China's average wage is one-thirtieth of the U.S. and its average productivity level is equally lower (and wages, in any event account for only 20% of the cost of producing textiles and 5% of the cost of producing semiconductors)." If so, manufacturers that offshore in China would be stupid; alternatively, "China: The Balance Sheet" has a serious credibility problem. I go with the latter.
Nonetheless, this is still some value to the book for its statistics. For example, the authors believe China's foreign exchange reserves reached $1 trillion in '06, far more than any other country's, and probably more than enough to make serious improvement in its pollution and poverty problems. By 2050, China's economy is projected to be the world's largest; foreign investment only accounts for 5% of its capital growth - the Chinese savings rate of about 33% is more than enough to handle China's growth with money left over.
As for social services, "The Balance Sheet" asserts a mid-90's adult literacy rate of about 80% (vs. 50% in India) and graduates 800,000 scientists and engineers/year, while spending only 2.8% of GDP on education. Healthcare accounts for about 6% - far less than the U.S.' 16%.
Only 16% of China's land is arable, and most of its population lives on it. China's leaders are pressured to improve employment to absorb those leaving rural China, as well as those 40% released from state-jobs (including 80% from state-owned manufacturers).
Bergsten et al are most concerned about the possibility of conflict between the U.S. and China re Taiwan, and they point out that China uses its political (U.N. Security Council membership) and economic muscle to "encourage" others to support it re Taiwan.
China Background.......2006-12-19
I haven't read this book but have read several others by Nick Lardy and studied with him at Yale. I disagee with several reviewers who characterize Nick and his colleagues as ignorant about China and are simply imposing a western view. Nick was studying China and the economy (in Chinese) long before it was a popular subject and is intimately familiar with the country's economy. In a country where data is often obscured by politics, he has done an excellent job of piecing together disparate facts to achieve a coherent whole. He may be skeptical, but he's often correct.
A book for politicians!.......2006-11-05
I find this book extremely dull because it is mainly made up of statements. But then I realise that, written by government think tanks, this book is for politicians.
If you are a general reader and want to understand how China is affecting the world, I recommend China Shakes the World or China Inc. And if are interested in the recent history of China (pre-1978), read Wild Swans.
If you are a business person and want to understand how to do business in China, I recommend The China Executive by Dr Wei Wang.
Another American type of arrogance.......2006-10-27
I can't agree with . Shih "M.Smith"'s review even more. I just can't stand the arrogance tone shown in this book. I got a feeling that the authors simply don't like the progress in China. It seems like the authors are simply trying to minimizing the progress China made and relishing the problems China has.
I seriously doubt the authors ever read any Chinese sources or talk to any Chinese scholar. The authors seem to imply that if the Chinese to follow the American way, then they will never succeed. True, China has a tons of problems. But the Chinese leaders and Chinese people are trying their best to solve them. What annoys me is that some of these authors seem to relish over the fact that China has so many problems
You won't get that much new info about China in this book. Yea, China has tons of problems. Who doesn't know. The authors are trying to answer the most complex questions of China with simplistic answers.
Typical American bias.......2006-10-26
Well, what can I say about this book? With a due respect to the authors, it's the same usual American bias toward developing countries. As an American living and working in China for the past 2 years:
1)It's hard for Americans/Westerners to understand how business is done in China? Well, my answer it's because China is NOT in the West and Chinese people are not westerners. Try learning the language first, be respectful, and don't be so obnoxious.
2)This is the same background noise that I hear from overeducated ideologues: If a country is not like the US, then it must be wrong. I guess the Chinese should have a 4th world healthcare system like the US?
3)I personally feel that some authors wish China to stay poor so Madonna can have a concert there and pretend that the rich countries care. Well, maybe Africa, but not China.
4)Just because you watch CNN, FOX, and NBC, it does not make you an expert.
5)Just because you went to an Ivy League school, it does not make you a genius about other countries and cultures. As matter of fact, it does not make you a genius (period)
6)US should comment less on China and worry about the pointless war in Iraq, the death of our soldiers for a pointless cause, broken US healthcare, outsourcing of the American jobs, broken borders, broken education system, children killing each other at schools...and the list goes on.
7)China has many societal problems; please tell me something I don't know. China is working on it, it takes time, and they are not magicians.
8)If China is so awful please don't do business there nor go visit there. For the fact that there are SO many foreign investments there, makes all business executives and companies from the West idiots.
Book Description
Since China's accession to the World Trade Organization (WTO) in 2002, China is now officially fully open for business and may soon be the biggest economy in the world. No one in, or embarking upon, a managerial career can afford to ignore a market that comprises one-fifth of the world's population. Doing Business in China is essential reading for the manager or firm setting up a business for the first time in this vital and complex market. Aimed specifically at Western and non-Chinese businesses and managers, this book offers a general framework for understanding Chinese business culture along with a guide for acquiring further knowledge on China.
This text is a practical guide to business practices, market conditions, negotiations, organizations, networks and the business environment in China. Alongside summaries of theoretical research, Doing Business in China provides a perceptual toolkit which will enable the businessperson or student to do business in China and apply that knowledge back in the West.
Building on the strengths of the first edition, this new second edition is fully updated to include new case studies as well as discussion of China's entry into the WTO . It is an invaluable resource for students of international business and management, and practitioners alike.
Download Description
This book is a general introduction to managing business ent
Customer Reviews:
How to do the business in China ?.......2002-10-26
Doing business in China!
Relation, Relation And Relation....
If you are using your American or European style to work and even partner with China's firms, you must be failure in the end.
Relationship with the Government and officials are the major concerns when you stepping into the door of China.
Think Global and hire Local Chinese people is the only way to have the final success with your partner in China.
China means: " Always in the historical culture "
So don't think about China with your American Standard !
Try to learn with your local Chinese people (doer)
Anyway, China is opened now and also needed to face the ways for WTO ! Reckon, China can learn from their European and American business partners from today.
This book is essential to appreciating the Chinese psyche..........2001-11-29
Particularly impressive is the author's approach at presenting the Chinese thought process in such a manner that Westerners can not only understand the Chinese psyche, but respect and learn from it as well. This book was perhaps one of the most enlightening books I have read in a while. There is a a concerted effort to show business protocol and potential avenues of entry, but more importantly this book addresses the fundamental social concepts that need to be FULLY understood before attempting to grow in China.
authorative and insightful.......2000-09-04
Of the vast number of books about China, this one is a very useful account of how successfully doing business in China. Western Managers at the forefront in China should read this book which brings together a lifetime of research and practice on China.
Book Description
Incoterms for Americans describes the thirteen International Chamber of Commerce Incoterms terms of sale in clear American business English, with proforma invoice illustrations. Fully revised for Incoterms 2000, this book is written for U.S. exporters, importers, freight forwarders, Customs brokers, foreign trade bankers and their overseas counterparts who wish to do business with them.
Customer Reviews:
Excellent Publication.......2007-05-18
Frank Reynolds has produced a comprehensive interpretation of the global language of international trade in a format that is easily understandable by Americans involved in international commerce. First published in 1936 by the Paris-based International Chamber of Commerce (ICC), Incoterms 2000 are the latest revised set of 13 international commercial terms recognized as the standard trade terms of international business.
Used by importers/exporters, they define the roles, responsibilities and obligations of buyers/sellers in transactions involving the international movements of goods and help to eliminate misunderstandings as to the term of trade by which a particular transaction is being conducted. They help define the point at which the responsibilities, risks and obligations of the seller end and begin for the buyer and the required documents that must be generated for official and commercial purposes.
As some of the Incoterms, when defined, may be in conflict with similar terms of sale (such as EX Works, FOB) as used for domestic business and found in the official United States legal code - the Uniform Commercial Code (UCC), the author thoroughly explains the difference and highlights the adjustments needed when considering similar Incoterms for international transactions.
The book clearly describes the meaning of each Incoterm, explains the buyer-seller responsibilities under each term and illustrates what a typical pro-forma invoice would reflect on a proposed export transaction. With each Incoterm described, it also offers an American perspective on best practices and recommendations from the author's numerous years of trade experience and his enviable position as the US delegate on the ICC drafting committee that revised the terms that resulted in Incoterms 2000.
Of particular interest especially to inexperienced American exporters, the author offers some very important caveats covering such areas as port customs, insurance considerations, potential confusions in regards to the difference between shipment and delivery terms, the use of appropriate terms that best fit particular transactions, compliance with US Export Control and Incoterm limitations. Although published in 1999, this edition is still up-to-date as the subject matter it addresses is still current as of the date of this review in 2007. Readers may, however, be mindful that the reference made in the publication to the Uniform Customs and Practices for Documentary Credit (UCP500) - the rules that govern letters of credit transactions - will be replaced by a revised set of rules (UCP600) on July 1, 2007.
Since the new UCP600 rules no longer provide for 'revocable' credits, it will no longer be necessary to stipulate in the payment term section of the pro-forma invoice that the letter of credit should be 'irrevocable' as reflected in those relevant sections in Incoterms for Americans. A minor editorial detail of omitting the currency in which costs are reflected in pro-forma invoices on pages 103, 104 and 110 should be French Francs, US Dollars and US Dollars respectively. The author would agree that such seemingly insignificant details of omission would create a discrepancy, delaying payment, in an invoice presented to a nominated bank for a letter of credit transaction.
As one with over 25 years of foreign trade experience, I would highly recommend this well written volume as a desk reference guide for any American foreign trader who desires a working knowledge, understanding and application of Incoterms 2000.
Excellent book for people in this field.......2007-01-19
I found this book to be full of information. Instead of giving a vague and general outline of the Incoterms (for example, just listing EXW as buyer pays all shipping), Reynolds go full bore into the subject with what if's scenarios, detailed look at each one and tells you how each contract is implemented and the limits of each term. He even put copies of pro formas for some of the incoterms!
Considering the fact that this book is more than half the price of the ICC book and tailored to Americans, I highly recommend it!
The Definitive Work.......2001-06-26
No sane person reads about INCO terms for fun, and if your work requires that you understand the details of international quotes & shipping then this is a required reference work. The author, who sat on the international drafting committee, is perhaps as knowledgable on this subject as any American. He also teaches an excellent seminar on the subject.
Technical topic made easy to understand.......2001-03-01
After I first read Mr. Reynold's predecessor book on Incoterms I felt I finally understood this technical topic. The new book, fully revised for Incoterms 2000, follows the same format. Each chapter is devoted to one of the 13 Incoterms so it can be easily digested. Each chapter contains an easy to read scenario of how the Incoterm may be used in a real international trade transaction and how it affects all other phases of the transaction including the ability or inability to collect payment.
The most valuable feature is the ending section of each chapter, entitled "American Perspective." It discusses how Americans should or should not use this particular term, or at least be aware of any caution flags.
Incoterms for Americans is a valuable commentary on an important topic.
Book Description
Within 20 years -- possibly far sooner -- China will have the world's largest economy. That will powerfully impact you: your job, your company, your economic future, and your country. In The Chinese Century, Oded Shenkar shows how China is restoring its imperial glory by infusing modern technology and market economics into a non-democratic system controlled by the Communist party and bureaucracy.
Shenkar shows why China's accelerating growth differs radically from predecessors such as Japan, India, and Mexico -- and how it will lead to a radical restructuring of the global business system. Discover why the U.S. is most vulnerable to China's ascent... how China's disregard for intellectual property creates sustainable competitive advantage... and how China's growth impacts every global business and consumer.
Above all, Shenkar shows what you must do to survive and prosper in "the Chinese Century."
· Cheap labor + millions of high-skilled professionals
· How China will sustain dominance in low-tech industries as it enters high-tech realms
· Building tomorrow's Toyotas and Sonys... faster and cheaper
· Chinese multinationals: learning from joint ventures, preparing to lead
· Leveraging Hong Kong, Taiwan, Singapore, and the "Chinese diaspora"
· Bringing together the world's most powerful pool of human resources
· $2 Rolexes, and beyond
· Piracy, counterfeiting, bootlegging, and stolen intellectual property
· From economics to geopolitics: counterbalancing America
· Previewing China's increasingly assertive foreign policy
Customer Reviews:
Disappointing overall.......2007-07-05
It is rarely that I have written less than a glowing review of any book dealing with the topics of globalization, outsourcing and the ilk. As someone who is intrigued by these issues, I have found all of my reads thus far to be riveting and educative. I wish I could I say the same about Oded Shenkar's book "The Chinese Century." I am afraid that was not the case.
The book suffers from some clear flaws. First and foremost is the fact that it focuses solely on one facet of the Chinese growth story, viz. exports and imports, and that too from a largely US-centric world view. For someone who is interested in understanding the different facets of the Chinese story and its geopolitical ramifications (as can be seen today in China's relations with Sudan, Iran, and Venezuela among others), this book clearly falls short.
Second, the tone adopted by the author is one of unbridled optimism regarding China's growth prospects. I, for one, do not necessarily share the same world view. No nation has been able to eat its cake and have it too. If you want to be a modern nation enjoying all the economic benefits that come out of a free market system, you also need to be a democracy that is built on the separation of powers between the executive and the judiciary, a free media and a vibrant middle class that is not afraid to speak up its mind. I am not sure China will be able to escape that painful transition at some point of time. The question is not "If", it is a question of "When". I would have therefore liked to see the author explain how China can make the transition from a communist nation ruled by a narrow clique to a modern nation without a democratic change thrown somewhere in between. I am afraid that he did not.
Finally to round off, I would also like to point out that the book suffers from typographical errors that are clearly unacceptable in a book published from Wharton School Publishing. Two examples, both from the same page (pg. 85 of the paper back edition) for the skeptics who need proof. "Finally, there is the potential liability and litigation cost when a safety-related product such as a break pad fails, and the legitimate manufacturer is implicated." Or, "The direct losses of U.S. IPR owners in copyrighted industries (such as movies) alone in China have been estimated at more than $1.8 annually." The proof reader probably needs to be told that it is not "break pads" but "brake pads" and that the losses to IPR owners are closer to $1.8 billion than $1.8!
Overall I am happy that the book finished at 187 pages. It's a disappointment though that not much of substance was said in those 187 pages.
Important Information!.......2006-12-31
"The Chinese Century" reminds us that our trade deficit with China is rapidly growing (up 20%/year from '01-'03), and also tells us that its composition is changing - the four highest categories in '03 were all technologically related (misc. manufactured articles, office machines and ADP equipment, telecommunications and sound-recording equipment, and electrical machinery). (Apparel/clothing and footwear were in 5th and 6th place, down from 2nd and 3rd in '99.)
Shenkar also imforms us that the Chinese are working to continue "moving up the food chain" via increasing the rate that overseas Chinese students return to China, increasing R&D spending within its organizations, and forcing overseas partners to provide valuable trade secrets. The percentage of American white-collar associated jobs lost in manufacturing has gone from 30% ('79-'89) to 35% ('90-'99), and is likely to increase further, shaking belief in the theorized overall benefit of job migration to more complex work, and the belief that education is good insurance against unemployment. (The unemployment rate for electrical engineers now is greater than the unemployment rate in general.)
China is often pilloried for violating intellectual property rights; Americans, however, should remember that the U.S. was also a major violator in the 19th century, and remained so until it emerged as a major producer of copyrighted/patented knowledge. Presumably China will follow a similar path. China is also attacked for not adjusting its exchange rate vs. the dollar - however, since its productivity-adjusted costs are about 12% that in the U.S., currency adjustment would not begin to solve the U.S.-China trade deficit. In addition, Americans need to remember that China needs to create 15 million new jobs/year to handle population growth, plus additional jobs to cover those lost due to closing ineffective government enterprises and rural residents wanting to move to its cities.
The book's avowed purpose is not on how to stop the tide of Chinese imports, but how to remain competitive. Unfortunately, its recommendations (more education) fall far short of what would be required, and are contradicted by its own material.
Yes, China is rising, BUT what must we do to survive and prosper in "the Chinese Century"?.......2006-11-05
It is obvious that China is rising and is impacting the rest of the world in an increasingly big way.
The value of The Chinese Century by Professor Oded Shenkar lies in its concise and vivid summary of China's rise and impact. As such, the author has achieved one of his goals he set out to achieve by writing this book.
However, the author clearly has not delivered what he promises to deliver in the Synopsis: "Above all, Shenkar shows what you must do to survive and prosper in "the Chinese Century"."
Indeed, as a business person, you might get even more dazzled after reading this book simply because this book gives you an academic snapshot of the China business scene (although with some vivid examples) rather than insights into and wisdom about what to do in order to succeed.
To know the latter, you have to read Dr Wei Wang's The China Executive: Marrying Western and Chinese Strengths to Generate Profitability from Your Investment in China.
Highly practical, The China Executive brings to light the highest essence of any business in the age of globalisation. It is also characterised by integration: integration of theory and practice, integration of analysis and intuition - integration, in other words, of all major concepts and ideas related to business. These include history, soceity, politics, economics and culture; management and leadership; operation, personnel, finance and marketing; organisation, market, industry and strategy; and human being, philosophy and humour.
In short, if you, as a business person, want to know what to do (as well as how to think) in "the Chinese Century", buy and read The China Executive.
Current and Comprehensive.......2006-10-15
Author Oded Shenkar provides up-to-date information, specific
details, and perspectives about the current and future ascension of
China. It is and will affect us locally and globally. This book
focuses on generalities and will be helpful to those who plan on
doing business in China or want to learn more about the "macro"
affects of the PRC's growing influence. Perhaps too obvious to state
(again) is China's coming economic, political, and military role in
our world. By now, this concept is cliche. Yet the question is
relevant, and now, moreso than ever before. The "Chinese Century"
largely focuses on the next 100 years. Surpassing the U.S.
economically, is predicted to happen within the next twenty years.
Many American companies have been complacent and industry leaders
were caught of guard by China's massive growth. Lackadaisical?
fixed, mind-sets? Competitors in neighboring countries (e.g. Korea)
started losing out to China in the 1990s.
Some of the common questions and discussions that Shenkar addresses
are: "How will China's economic ascension will affect its region and
the entire world?" "How will it impact and transform the U.S.
economy?" "How will it change you?" The author notes the transition
of the American economy to a service-sector economy.
Domestically, the more challenging aspects for the CPC and Chinese
society are how to lessen and/or resolve the Income Gap between
Eastern cities and rural areas (and within these cities themselves).
Those in the eastern China are living in a radically different world
than those inland. Both of these groups are aware of the differences
between them as status symbols, faster-paced life, and incessant
conspicuous consumption propel attitudes, the economy, and egos.
There is quantifiable alienation between the "have-nots," who
outnumber the "haves" by hundreds of millions. Confrontations over
water and land-use, and eminent domain, are frequently reported.
Stealing Intellectual Property:
The Chinese can produce - but they cannot create. "Creativity" and
"ingenuity" are the new buzzwords of the government. Creativity may
or may not happen. If it is ever achieved to some degree, it will
take time (generations) and will require changes to the cultural
mindset and education system.
Implementing Foreign Policy Interests:
The U.S. acts upon its own self-centered interests like many dominant
nation-states. America's economic might promotes its diplomatic and
trade interests in the international world. Often these strengths
reinforce and complement one another when pressuring countries to "go
along" with the current administration in Washington, regardless of
who is in power.
The Chinese may do this too, if they choose to "go international."
I believe Chinese foreign policy will become more direct and
unilateral.
Economic might brings diplomatic, political, and potential military
might (if China continues its high military spending). Westerners
should realize that there's no motivation nor reason for the Chinese
people to want the values and beliefs of liberal democracies of the
West. To think they would, is culturally-centric arrogance.
Corruption:
Corruption exists in many countries of the world. In China it's an
epidemic from the bottom ranks to the highest levels of society. It
has to be dealt with. Even reducing it may take more than one or two
generations. Morality is also an issue. Hu Jintao recently outlined
the "8 honors and 8 shames" in 2004. Meant for the Chinese people,
but specifically geared towards party members. It's a general and
idealistic message. Will it be followed? This reinforces the fact
that rampant corruption, greed, and selfishness is a primary obstacle
to economic and political stability. Throughout East Asia
competition outweighs cooperation in business and social
interactions.
What will China be like when it has the economic power to promote its
interests?
The Chinese understand and realize they are "producers." They are
not "creators." They're not "individuals." However - if - they ever
become creative, adaptable, and individualistic, beware.
Incidentally, anyone who thinks that a market-based economy promotes
or is conducive to forms of "democratic representation" is completely
misinformed. The pairing of these two is the exception, not the
rule.
The U.S. derides Cuba for it authoritarianism and refuses to do
business with Cuba, while at the same time it's in bed with China,
which is far more brutal, oppressive, and venal.
A good book. Recommended.
Insightful and well-written .......2006-05-31
China is a quickly rising economy on the world stage and many liken it to another Japan on the horizon. However, there are as many differences as there are similarities between the rise of the Chinese economy and the rise of Japan, South Korea, Taiwan, or Hong Kong. These differences are critical if you are going to understand the impact this will have on the American and world economy. What is the legacy of China's history and how is that impacting their current economy? How is China dealing with (or not dealing with) the problem of piracy and bootlegging of legitimate products on the world market and how will that affect their position on the world market stage? The author deftly covers opportunities and challenges in the China market and in United States Chinese market. The Chinese Century is highly recommended for anyone who wishes to understand the Chinese market and the implications of that market for the United States.
Book Description
EXW, FCA, FAS, FOB, CFR, CIF, CPT, CIP, DAF, DES, DEQ, DDU, & DDP. Incoterms are the official rules for the worldwide interpretation of trade terms developed under the auspices of the International Chamber of Commerce, Paris, France. Incoterms are recognized by the United Nations Commission on International Trade Law as the global standard for such interpretation.
Incoterms define the responsibilities of buyer and seller for delivery of goods under sales contracts. They are the authoritative text for determining how costs and risks are allocated to the parties. These terms are regularly incorporated into sales contracts worldwide and have become part of the daily language of trade.
Incoterms 2000,the first revision in ten years, contains the official ICC text of the thirteen trading terms. It takes into account the latest developments in commercial practice and modifies some the existing terms bringing them into line for use in the new millennium. Most sales contracts drafted after January 1, 2000, will make reference to this latest revision in the text of their contract.
Incoterms 2000 continues a 60-year tradition of the ICC and provides importers, exporters, lawyers, transporters, insurers and students in the international arena with a modern text reflecting the latest changes in the trading environment. This new edition contains a lively, updated format for ease-of-use and ease-of-reference.
Incoterms 2000 will be the definitive text for all those engaged in international trade and commerce in the 21st century.
Customer Reviews:
Very Useful.......2007-01-10
The Incoterms 2000 is a basic hand book necessary for every person
in the trading industry. It's great....
Excellent Review.......2005-07-11
This book is exactly what we wanted to order and found the book quite a bit less expensive on the Amazon web site as we ordered 10 each. I will always come back to Amazon site for such books and more!
Thank you,
A Must ..........2000-08-19
This book is a must for every sales,logitics and shipping managers who intend to work seriouly on a worldwide basis. Incoterms are the keys of international commerce and must be understood by all parties involved.
The Official Guide.......1999-11-09
This book may not be the most enjoyable you've ever read, but it is the offical guide put out by the ICC. It is broken down by Incoterm and into each category of obligation by the seller and buyer. This is the book that will be translated into multiple languages for everyone in the world to read. You really can't ask for more. However, if you are new to Incoterms, don't expect to understand it after going through it only once. It's still not an easy subject to grasp for new exporters/importers.
For American exporters/importers I would definately recommend reading a supplementary book put out specifically for Americans. Incoterms are partially written with European countries in mind, so there are important considerations for countries with borders and exports laws similar to the USA. The best supplimentary book I've seen so far is "Incoterms for Americans" by Frank Reynolds, the USA representative to the Incoterms 2000 revision meeting. The 2000 version may not be officially out yet. I got it at a seminar.
Pretty good summary for a book written by a committee........1999-10-27
The subject of Incoterms is almost arcane in American jargon. The previous version was less readable even though the format was similar. I suggest that everyone trash their 1990 version and take advantage of the changes in format so that you can explain the meaning and impact of the Incoterms 2000 to your organization.
Amazon.com
China has the world's most rapidly changing large economy, and according to Ted Fishman, it is forcing the world to change along with it. "No country has ever before made a better run at climbing every step of economic development all at once," he writes, in China, Inc.: How the Rise of the Next Superpower Challenges America and the World. China is currently the largest maker of toys, clothing, and consumer electronics, and is swiftly moving up the ladder in car production, computer manufacturing, biotechnology, aerospace, telecommunications, and other sectors thanks to low-cost, high-tech factories. China is also where the world is investing. In 2004, for instance, the city of Shanghai alone attracted over $12 billion in direct foreign investment, roughly the same amount as all of Indonesia and Mexico received. In tracing China's ascendancy over the past 30 years (with annual growth of an astonishing 9.5 percent), Fishman presents a flood of facts, figures, forecasts, and anecdotes and examines the implications of this unprecedented growth for China, the U.S., and the rest of the world.
Calling China's huge population "arguably the greatest natural resource on the planet," Fishman details how hundreds of millions of peasants have migrated from rural to urban areas to find manufacturing jobs, providing an unlimited, low-wage workforce to power China's economy. In the process, this shift has changed both Chinese culture and the global business climate in significant ways. Simply put, American companies can't compete with wages as low as 25 cents an hour and lack of regulation and oversight, so are forced to move their operations to China or completely change the focus of their business. And it's not just a problem for the U.S.--even Mexico is outsourcing to China. Though it remains to be seen whether this will truly be the "Chinese Century" as Fishman asserts, China, Inc. is a brisk and informative look at why so many American corporations, and American jobs, are heading to China. --Shawn Carkonen
Book Description
China today is visible everywhere -- in the news, in the economic pressures battering america, in the workplace, and in every trip to the store. provocative, timely, and essential, this dramatic account of china's growing dominance as an industrial super-power by journalist Ted C. Fishman explains how the profound shift in the global economic order has occurred -- and why it already affects us all.
How has an enormous country once hobbled by poverty and Communist ideology come to be the supercharged center of global capitalism? What does it mean that China now grows three times faster than the United States? That China uses 40 percent of the world's concrete and 25 percent of its steel? What is the global impact of 300 million rural Chinese walking off their farms and heading to the cities in the greatest migration in human history? Why do nearly all of the world's biggest companies now have large-scale operations in China? What does the corporate march into China mean for workers left behind in America, Europe, and the rest of the world?
Meanwhile, what makes China's emerging corporations so dangerously competitive? What could happen when China will be able to manufacture nearly everything -- computers, cars, jumbo jets, and pharmaceuticals -- that the United States and Europe can, at perhaps half the cost? How do these developments reach around the world and straight into the lives of all Americans?
These are ground-shaking questions, and China, Inc. provides answers.Veteran journalist and former commodities trader Ted C. Fishman paints a vivid picture of the megatrends radiating out of China. Fishman's account begins with the burgeoning output of China's vast low-cost factories and the swelling appetite of its 1.3 billion consumers, both of which are being driven by historically unprecedented infusions of foreign capital and technological know-how. Traveling through China's frenetic landscape of growth, Fishman visits the factories, markets, streets, stores, towns, and cities where the story of Chinese capitalism is being lived by one-fifth of all humanity. Fishman also draws on interviews with Chinese, American, and European workers, managers, and executives to show how China will force all of us to make big changes in how we think about ourselves as consumers, workers, citizens, and even as parents. The result is a richly engaging work of penetrating, up-to-the-minute reportage and brilliant analysis that will forever change how readers think about America's future.
Download Description
"China today is visible everywhere -- in the news, in the economic pressures battering america, in the workplace, and in every trip to the store. provocative, timely, and essential, this dramatic account of china's growing dominance as an industrial super-power by journalist Ted C. Fishman explains how the profound shift in the global economic order has occurred -- and why it already affects us all. How has an enormous country once hobbled by poverty and Communist ideology come to be the supercharged center of global capitalism? What does it mean that China now grows three times faster than the United States? That China uses 40 percent of the world's concrete and 25 percent of its steel? What is the global impact of 300 million rural Chinese walking off their farms and heading to the cities in the greatest migration in human history? Why do nearly all of the world's biggest companies now have large-scale operations in China? What does the corporate march into China mean for workers left behind in America, Europe, and the rest of the world? Meanwhile, what makes China's emerging corporations so dangerously competitive? What could happen when China will be able to manufacture nearly everything -- computers, cars, jumbo jets, and pharmaceuticals -- that the United States and Europe can, at perhaps half the cost? How do these developments reach around the world and straight into the lives of all Americans? These are ground-shaking questions, and China, Inc. provides answers.Veteran journalist and former commodities trader Ted C. Fishman paints a vivid picture of the megatrends radiating out of China. Fishman's account begins with the burgeoning output of China's vast low-cost factories and the swelling appetite of its 1.3 billion consumers, both of which are being driven by historically unprecedented infusions of foreign capital and technological know-how. Traveling through China's frenetic landscape of growth, Fishman visits the factories, markets, streets, stores, towns, and cities where the story of Chinese capitalism is being lived by one-fifth of all humanity. Fishman also draws on interviews with Chinese, American, and European workers, managers, and executives to show how China will force all of us to make big changes in how we think about ourselves as consumers, workers, citizens, and even as parents. The result is a richly engaging work of penetrating, up-to-the-minute reportage and brilliant analysis that will forever change how readers think about America's future. "
Customer Reviews:
Lacks critical analysis, nothing more than a collection of (incomplete) stories .......2007-09-04
Half of the book is like a PR campaign for Shanghai, saying how fascinating the city is without really critically examining its glories. It seems like the author has not ventured far away from Shanghai (even Zhejiang Province is bordering Shanghai) and to really delve into the rest of China. It is just like reading a book on U.S. economy while all it talks about is New York. Projecting New York for the rest of the U.S. is laughable, so is thinking Shanghai epitomizes the entire China.
Shanghai's success, at least in the past, critically relied on the extremely favorable national policies steered by Jiang Ze-ming, the former mayor of Shanghai who became the president after 1989 Tiananmen. Such biased national policies are highly questionable, and its impact on Shanghai long-term economic sustainability is also open for debate.
It's also weird for a book on China's economic transition to exclude meaningful discussion of the economic reforms in the Pearl River Delta area where all of the initial economic reforms started, and which is still one of the most important economic regions in China. Also, China's attempts to balance economic development between the coastal region and the inland region are largely ignored in the book (except some very light discussions here and there).
The second half of the book is not very organized and it is not clear what message the author was trying to get across. Overall, the book is nothing more than a collection of stories you can easily find in Economist. A better book for a quick intro and analysis of China's rise is The World is Flat, side by side is an analysis of India as a bonus...
Could have been at least 100 pages shorter.......2007-07-15
A lot of insights from the book but at the same time a lot of non-insights.
The book covers the movement of Chinese people from the farms to the cities and the attitude towards rapid modernization including piracy. However, you cannot FEEL it from first person point of view. You feel very detached reading the book.
It could have been more straight to the point and a lot of pages bored me.
The Tom Wolfe of China.......2007-05-24
This a kaleidoscopic view of the most dynamic country today on the planet. Sit down, strap up, and read the Electric Kool Aid Acid Test of the 21st Century. For a harder analytical edge, read my own volume The Coming China Wars: Where They Will Be Fought and How They Can Be Won
Please blame everything on China, is this a new trend to cover up American "disastrous" foreign policy? .......2007-05-11
So with all due respect:
1) If China is so bad, don't do business there, no one is forcing you
2) All American CEO who deals with China are unpatriotic Americans
3) All American CEO who outsource to China and India are immoral capitalist
4) All American CEO who deal with China should pay a fine or go to Jail. -But they are not! And as matter of facts, they are getting big bonuses.
5) Don't blame the Chinese, they are providing a service (cheap) but American consumers and executives are the ones knocking on their doors.
6) You can't have both ways; you can't try to use cheap labor in 3rd world countries and then turn around and point fingers at the people you are doing business with.
7) Stop bringing up the WWII theory on some of these comments, just because the USA fought and won WWI -which is GREAT! It does not mean the USA is correct FOREVER...common sense.
Excellent reference background............2007-04-11
My team at work does a lot of business with China and after one of the engineers read the book, we ordered about 15 copies for the entire department to read, we felt it was so worthwhile!
Average customer rating:
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Japan and the Reconstruction of East Asia (International Political Economy)
Dominic Kelly
Manufacturer: Palgrave Macmillan
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Book Description
Dominic Kelly analyzes Japanese policies designed to lead to the reconstruction of East Asia. He presents a detailed picture of Japanese activity in East Asia in the areas of production, finance, security, and knowledge, and maps out the historical context upon which this activity rests. Kelly sheds light on the increasingly powerful but imperfectly understood phenomenon of regionalism. He goes on to identity the major fault line situated beneath both theoretical accounts of Japanese regionalism and "real world" predictions of its success or failure.
Product Description
China is now the world's fourth largest economy and growing very fast. India's economic salience is also on the rise. Together these two countries will profoundly influence the pace and nature of global economic change. Drawing upon the latest research, this volume analyzes the influences on the rapid future development of these two countries and examines how their growth is likely to impinge upon other countries. It considers international trade, industrialization, foreign investment and capital flows, and the implications of their broadening environmental footprints. It also discusses how the two countries have tackled poverty, inequality and governance issues and whether progress in these areas will be a key to rapid and stable growth.
Customer Reviews:
From the perspective of one of the Giants.............2007-05-20
This is a report by the World bank (and a think tank) to study the impact of the growth of China and India on other countries in the World.
Provides a good insight into the China and India story:
(a) Sorry, China and India are not Giants. Though they house 38% of world population they account for 6.4% of World GDP (yes, purchasing power parity is not useful in evaluating your impact on other countries since size of trade and exchange rates are more important than price levels).
(b) Sorry, this will not change even after sustained growth in the next decade. India would grow from being 1.7% of World economy to 2.4% in 2020 (okay, 3.2% if you are optimistic). China would grow from 4.7% now to 7.9%.
(c) Sorry, India is not a dominant player in providing services to the world. India's export of services is just 1.8% of global trade in services.
(d) Sorry, IT just accounts for 6% of India's service revenue. Nope, it is a myth to believe growth in IT sector would transform Indian economy. It did not. It may not.
(e) Nope, energy economists don't need to worry. India accounts for just 3.4% of global oil usage. In the next ten years any hike in oil price is more likely to come from supply side hitches than from increased demand for oil in India or China.
(f) Nope, US current account deficit is not due to China's import barriers or an undervalued currency. US is just not saving enough.
(g) Nope, China and India are not competing head on for their products. The top 25 exports of China and India have only one product in common! (Yes sire, refined petroleum).
(h) Nope, Dhirubhai Ambani alone is not enough to reform our textiles industry. Our textile exports is $ 10 billion a year. Wal Mart alone buys $ 18 billion textiles from China. Did you know one major impediment is the delivery time from India to US? Yes, 24 days!
(In passing, the economists say that the movie industry in India is not known to produce world class movies; though one did come recently: "Bend it like Beckham"! Apologies Mani Ratnam, economists do not know as much about movies as about GDP!)
Have we handled our economy well? We made some mistakes in the way we managed our economy.
(a) We started with one major disadvantage. Inequality.
(b) Economic growth is rarely balanced. It often results in enhancing inequality.
(c) There are good inequalities (differences in income and wealth because some earned more than others) and bad inequalities (lack of access to education or credit to pursue an economic activity). Good inequalities are necessary to maintain incentive for growth. Bad inequalities prevent people from escaping poverty.
(d) We got our philosophies mixed up. Instead of attempting to eliminate bad inequalities by providing access to opportunities for the poor, we went after good inequalities by suppressing incentive for economic growth.
(e) We restrained firms from freely pursuing economic activity (by reserving several activities for the State or for small enterprises and by introducing a license raj that required government permission to start or expand a business).
(f) We prevented efficient allocation of resources (by protective trade policy that perpetuated advantage to existing players, by a directional tax policy, by state control of all funding and by restrictive labor laws).
(g) On the other hand, we did not provide access to education or market driven micro finance delivery to the poor to acquire human capital to escape poverty.
(h) End result: We did not grow enough; but the inequality went up. The poor did not benefit from economic growth at all.
(i) Since our political system depended on popular support, political administrations "blamed" a variety of targets (businessmen, upper caste, land holders, foreign hands) for the failure to eradicate poverty and used the resultant "popular anger" to consolidate their power base.
(j) Thank God we had a crisis in 1991. Debt service rose to 21% of receipts. Interest burden rose to 20% of expenditure. We ran out of spendable currency. No one was willing to lend.
(k) Prime Minister Narasimha Rao went beyond curing the immediate disease. Rao government cut back industries reserved for State; removed licensing requirements; devalued rupee; allowed current account convertibility; removed quotas and reduced tariffs; and lifted restrictions on foreign investment.
(l) Fortunately the reform process, despite vigorous debate, has developed sufficient consensus to stay on track in succeeding administrations.
(m) We have some more miles to go:
(1) We need to provide access to education and credit to facilitate people escape poverty. Spending money on rural infrastructure alone will not kill "bad inequality". If this is not done, India would continue to be a miracle of "jobless growth" and political consensus for reform would evaporate diluting growth prospects. Equality is not just a nice thing to do; it is essential for going after growth.
(2) We need to get "government" out of "business" even more. Subsidies will have to reduce. Buredensome state enterprises cannot be funded by public expenditure. Bad loans in banks will have to reduce. Regulatory rigidity in labor market will have to reduce.
(3) We need to step up "governance". We need to step up government effectiveness and bureaucracy quality.
(4) We need to manage our "balance sheet" well. We cannot be an economy whose liabilities are in "high cost equity" (FDI and portfolio investments) and whose assets are in "low yield reserves". This asymmetry is expensive.
China has one advantage over us. An early start. China has built a strong manufacturing base with an eye on the global market (40% of its GDP is from exports vs 15% for us). However, in the end, China has one disadvantage. In China the State is determining who will pursue economic activity and who will not by its "hukou" system (license to live in special zones) and "TVE system" (town and village enterprise owned by local governments with limited authority to retain and reinvest super profits). This was useful in creating "private firms" in a socialist economy.
However, this past success is going to be a millstone for China in the future. A very large population got left out in the growth process (though inequality is not as sharp as in India because the inequality in landholding prevented growth in agriculture from reducing inequality in India). Building political consensus to the reform process is going to be even toughter in China when the ability of the government to maintain control over the population reduces. This may hamper growth.
India has a higher chance of sustaining and growing political consensus for reforms because it has developed mechanisms to let differing voices debate vigorously before building consensus. The pace is slow but the traction is firm.
It is nice to think that Left leaders Prakash Karat and Sitaram Yechury, with their wisdom and ability to disagree, may help India build the consensus on a firmer track and perform better than China!
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