In the 1990s, China astounded the world with double-digit annual growth rates while attracting over $300 billion in foreign investment capital -- an amount greater than any other country received in this period, except the United States. Politicians, economists, and business leaders the world over hailed China's astonishing achievement and foresaw a future for the juggernaut nation to develop into the world's largest economy within a generation, creating a market for goods and services that would dwarf all others. In The China Dream, acclaimed business journalist Joe Studwell takes to task these predictions -- and instead foresees an economic crisis. He argues that since the days of Marco Polo Western nations have seen the vast population of the Middle Kingdom as a fantastic opportunity for expanding trade, investing time and resources again and again in the hope of developing it, only to see, century after century, its economy crash and their dreams turn to dust. Studwell traces the most recent developments in China, from Deng Xiaoping's "liberalization" of its market in the 1980s and the opening of its economy to foreign investment in the 1990s, and sees the end of the cycle coming around once more. In his rigorous analysis of the Chinese economy, government, and culture, Studwell also shows the roadblocks to the continuation of its unprecedented expansion and why its economy is destined to stall once more -- but this time, harder than ever before, and with potentially catastrophic results that will be felt around the world. Provocative, flawlessly researched, and endlessly engaging, The China Dream is a book that will have the business and political worlds talking about what's really going on in China -- and what we can do to prepare for the coming crisis.
Business-Money, Economics, Economic-Conditions,