Fascinating story I somehow overlooked from INC, excerpting a book (China, Inc.) I am halfway thru:
How China Will Change Your Business :
1. China’s economy is much larger than the official numbers show.
2. The growth of China’s economy has no equal in modern history.
3. China is winning the global competition for investment capital.
4. China can be a bully.
5. China’s economy is an entrepreneurial economy.
6. The most daunting thing about China is not its ability to make cheap consumer goods.
7. China is closing the research and development gap — fast.
8. China now sets the global benchmark for prices.
9. China’s growth is making raw materials more expensive.
10. No company has embraced China’s potential more vigorously than Wal-Mart.
11. There are hidden costs associated with doing business in China.
12. Piracy is a problem.
13. China’s heavy buying of U.S. debt has lowered the cost of money in the U.S.
14. Americans and Chinese have become reliant on each other’s most controversial habits.
The article is worth reading (as is the book if you have the time).
Sources:
How China Will Change Your Business
Ted C. Fishman
(Illustrations by: Tommy McCall)
Inc. Magazine, March 2005
http://www.inc.com/magazine/20050301/china.html
Cycle of Co-Dependency
http://images.inc.com/tools/china/china.pdf
Hi Barry,
I think you meant for your links (points 1 through 14) to point somewhere. At present, they don’t go anywhere.
Today’s Wall Street Journal’s article A Chinese Telecom Powerhouse Stumbles on Road to the U.S. (subscription required) might be of interest.
They did link to the various sections in the original article, but it seems he copied the code rather than the text, and therefore is left with anchor tags that don’t exist on his page…
Still a good read none the less, nothing that really floored me.
Whoops! Should be fixed now . . .
Kind of wonder when some of these forces will lead to unionism and political reforms. At some point the workers are going to want more than they’re getting.
Follow the Chinese in the arts alone and you will understand the astonishing dynamism.
Quite a marriage but a divorce would get ugly quickly and the national security implications are not too pleasant.
I remember an ariticle in the FT (Martin Wolf, perhaps?) comparing China’s growth to other Tigers like Korea and Japan, and finding China’s to be considreably less. The question he poses at the end of the article is why China hasn’t done better.
I think the reason China’s growth has atttracted so much attention is that they are so damned big that when they grow, they change the world.
Yes, there’s nothing new there, but this juggernaut is not stopping for anyone. We’ll see if they suffer the same fates as all the Chinese dynasties that existed previously.