China on the Brink: The Myths & Realities of the World's Largest Market

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9780071345156: China on the Brink: The Myths & Realities of the World's Largest Market

As the Asian financial crisis continues to depress international markets. China is seen by many as the region's growing global superpower. In this insightful book, Callum Henderson shatters these myths, revealing China as a nation with unlimited potential, but whose fundamental strengths mask major weaknesses that include defense, diplomacy, and inter-Asian relations. Delivering key predictions on the future of China -- and tips and strategies for investors -- this uncompromising, real-life portrait of China provides a rare, valuable window into the often-hidden Chinese economy.

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Review:

As China goes, so goes the rest of the world, argues Callum Henderson in China on the Brink. If the world's largest market--with more than 1 billion people--succeeds in getting its financial house in order, Asia and the rest of the global economy will know stability and prosperity. If not, China will start a domino effect, spurring an international crisis and worldwide recession, according to Henderson, an emerging-markets analyst based in London.

Henderson explores in great detail where China stands today, economically, politically, and socially, and predicts where he sees the nation going. He debunks Western myths about China and points out that while China avoided the worst of the financial meltdown that burned much of Asia in 1997 and 1998, it did not escape unsinged. The nation's growth slowed dramatically, unemployment rose, consumer demand shrank, and the gap between rich and poor widened, to name just a few economic ills. Two of the biggest problems threatening China and its people, according to Henderson, are the inefficient state-owned enterprises and the bankrupt state banks. Without timely reform, the nation and the rest of the world could be thrown into financial chaos. "If the world isn't holding its breath, it should be." For anyone interested in the evolving global economy, the future of China, or investing in that part of the world. --Dan Ring

From the Back Cover:

An eye-opening inside report on China's emerging economy. The reality behind the "Chinese Miracle". Today's China stands on a precipice. It can either cross over to become a first-world economic power or sink beneath the weight of its "socialist market economy." China on the Brink takes an unflinching look at this vitally important country, and provides a reality check for outside observers who have been overly optimistic about China's economic recovery. Look to veteran international economist Callum Henderson's insider's examination of China to discover: how major economic, social, and environmental problems threaten to derail China's historic economic reform programs; how China's provincial leaders can profoundly affect policies across the globe; strategies for investors and businesses to profit--or at least keep from getting burned--in China's ever-changing power game. China's unprecedented rise poses profound economic, political, and even military questions for global stability and prosperity. Let China on the Brink take you beyond facile, scratch-the-surface reports to paint a true picture of the economy of the world's most populous country--and inform you of the ongoing economic slow-down which could have a calamitous effect on Asia and the world if it is not checked.

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