by Oded Shenkar
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Product Description
Within 20 years-- possibly far sooner--China will have the world's largest economy. Already, China is the #2 economy in the world for direct foreign investment, behind the US. Worldwide bestseller The Chinese Century reveals 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. This book powerfully demonstrates how China's accelerating growth is leading to a radical restructuring of the global business system. Read it, and you'll discover why the U.S. is most vulnerable to China's ascent...how China is increasingly serving as a counterweight to American economic and geopolitical power...how China's disregard for intellectual property creates sustainable competitive advantage...how China is leveraging the world's most powerful pool of human resources...how China will sustain dominance in low-tech industries as it enters high-tech realms...and how China's growth impacts every global business and consumer.The paperback edition includes a brand-new epilogue with up-to-the-minute strategies and tactics for competing with Chinese companies and succeeding in Chinese markets: best-practice approaches to everything from alliances to product development.
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Average Customer Review:
0 of 2 people found the following review helpful:
 The claims in this book about Chinese economic growth rates and gross domestic product are simply wrong, 2008-01-11
In late 2007 the World Bank issued a revised statistical analysis of all the countries in its data base.The World Bank corrected its previous erroneous statistics, which had been adjusting the prices of Chinese goods and services too far upward based on purchasing power parity comparisons.These lowered prices dramatically reduce China'a figures.The corrected figures show that China does not have a gross domestic product in the $10-$11 trillion range,as compared to the USA's gross domestic product of around $13 trillion, but a gross domestic product of no more than $6 trillion.
The same report demonstates that the Chinese middle class is substantially smaller than previously estimated and may be no more than 100 million out of a population estimated to be at 1.4 billion.
Finally,the exaggerated yearly growth rates reported by China are also erroneous.The real growth rate is about one-half of previously accepted figures.This means that China is NOT on track to over take the USA as the world's largest economy.The exact same revisions also apply to India.India is NOT growing anywhere near to the gross domestic product figures that have been reported.
The author of this book needs to completely revise it .Erroneous data and information ,followed by erroneous analysis based on the erroneous data,can only result in misleading readers.
2 of 2 people found the following review helpful:
 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.
0 of 0 people found the following review helpful:
 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.
3 of 3 people found the following review helpful:
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.
2 of 3 people found the following review helpful:
 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.
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