China's Economy: What Everyone Needs to Know(r)

Best book i have ever read regarding China's economy

Arthur Kroeber - China's EconomyI learned much from this economist's non-technical and conversational narrative of the current condition of the economy of China, and how it got to where it is and the state and political structure that both directs and supports it.As fast reading as this "dry" subject might be there is much to be described and digested. Putting all these what is known and what is less than well known together, the author gives the reader a deep discussion of how the Chinese Communist Party has adjusted the Country's economic culture and ethic to the new realities of the modern world. He also describes in some detail the mistakes that have been made and the weaknesses of the economy as the driving force behind the success and acceptance of the CCP. Overall, Kroeber believes that while China is not in as good a position as is often described in the press, and remains poor to lower middle class at this time, he concludes that it is likely to right itself in the medium term. Long term he is less sure.China is spending enormous amounts of capital on "projects' such as housing and factories (and military) that have been overbuilt and left many people and the government in debt. He points out that even where China surpasses the USA as the largest economy, which is one of Xi's expressed goals, with a population four times of the USA it would result in a per-capita income of 25% of that of the United States and behind all of Western Europe and many other countries. Moreover, he is not sure that Xi's purpose is economic growth and equity as much as it is China's self-sufficiency for the sake of security.This book has much to offer, for those like me whose knowledge is from the daily press and not the specialist literature.

Il libro è arrivato in pessime condizioni, probabilmente non è nuovo

I've recently read 4 good books on modern China. Today, when I had to pick something to give my son (age 50) for his birthday, I chose this book. For me, it was a comfortable read. It offers direct, lucid explanations, which, backed by data, impart a sense of what China is really all about.This book teaches that contemporary China is a unique combination of totalitarianism and a partially free-market economy. It has special economic zones in which the market is more free. It's initial economic growth, following the death and replacement of Mao, got a huge boost from foreign direct investment. To me, the history of Chinese economics from 1978 onward is a vivid illustration of the role of the free-market in creating prosperity.We humans have a tendency to fear things that we don't understand. I'm not saying that books like this will free us of being wary of China as a strategic adversary. Certainly, the U.S. has to have its guard up. On the other hand, the economic co-dependence of the two nations should help avoid catastrophic conflict (assuming the respective leaderships keep their heads on straight). I will say that I would be more comfortable traveling as a tourist in China after reading this book.This book helped me understand the very real challenges China faces. Most Americans believe, incorrectly, that China is already the worlds biggest economy. That misconception is easy to understand: if we sit in our homes and look around us, we are surrounded by Chinese products. Most of our "stuff" that is made in USA typically comprises things that are too big to ship from off-shore. It's hard to believe that China has a problem with national debt. China's problems with pollution are bad enough to create serious internal unrest. China faces an aging population that will create an imbalance between non-productive and productive demographic segments. Power corrupts, and governments with a lot of power concentrated in a relatively small number of people typically have relatively large corruption problems. Most Americans would be surprised to learn that China's central government delegates a lot of authority to provinces and municipalities, often allowing localized corruption to incubate. (The central government might define an important component of corruption as putting local leaders' interests ahead of the interests of the nation.)While many of the "Made in China" products that surround us are high-tech, the book explains by example how China is still playing catch-up in many important technical areas.This book provided me with a lot of unexpected insights. Did I mention that the book is refreshingly absent the left-right-left-right political spin that plagues 99 percent of American communication media? The author's credentials as an authority on China are impeccable. The prose is clear, clean, and well-organized. Highly recommended!

Pretty much all info is available on Internet. No deep is insights