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China entrepeneurship: how do 700,000 global and Chinese multinationals, hightech compete?
by globalization, finance, jobs forum
Wednesday, May. 07, 2008 at 7:28 AM
How to face the surging Chinese and Asian power? Is Asian century arriving earlier than expected? Explore what is behind the surging Chinese and Indian economy, finance, banking, outsourcing, foreign trade, currencies, labor, consumption, entrepreneurship and politics. Why can Chinese multinationals Haier, Huawei, Galanz, China Oil, Construction Bank, China Chemical, China Telecomm, and Ping An Insurance reach the globe? Get great ideas from leading thinker George Zhibin Gu
China, India, Asian century and globalization : how many challenges and conflicts are ahead ?
Reviews of 2 new books:
1. China's Global Reach: markets, multinationals, and globalization
2. China and the new world order: how entrepreneurship, globalization, and borderless business are reshaping China and the world
by Sinomania China News Service
"Empty talk destroys prosperity," so goes the current wisdom in author George Zhibin Gu’s hometown Shenzhen in the booming Pearl River delta of Guangdong province, long China’s export powerhouse. But empty talk you won’t get from Gu’s insightful and timely discussion of the Chinese economic resurgence and its implications for the world.
This new book "China’s Global Reach : Markets Multinationals Globalization" is an at times urgent appeal against isolationism and protectionism. Critics of China’s "peaceful rise" argument will find most surprising Gu’s assertion that you cannot equate the business of China (export dominance, job outsourcing, etc.) with the government of China or China as a national entity. Indeed Gu emphasizes the essential importance of international involvement in the reform of China’s state sector and in ultimately untangling the knot at the center of China’s problems - the impasse between party-bureaucracy and private life and property at all levels.
Gu expertly dissects the reality behind the huge numbers of Chinese trade and economic performance and shows how hard it is to criticize China’s trade surplus with the USA, for example, in light of its impact on Wal-Mart’s (and numerous other American multinational corporations (MNCs) profits. There is a tremendous amount of information regarding MNCs in China throughout the book.
On one level, "China’s Global Reach" is a celebration of how far China has come in such a brief period by a son of the first post Cultural Revolution generation. On another level it fits into the "peaceful rise" line that is predominant in China today, that is that Chinese economic ascendancy is not the emergence of a new hegemony but benefits the whole world. And Gu’s book serves also as a good antidote to rising sinophobia, particularly in the USA, by contrasting the Chinese global reach with that of Japan.
It was not so long ago that the same criticisms leveled against China - trade deficits, job displacement and so forth - were directed at Japan. The bogeyman of the 1980s was "Japan, Inc." just as today many of the same voices (The New York Times, Wall Street Journal, the Economist, just to name very few) claim China aims to take over the world. However, Gu gives numerous examples of just how different China’s global reach is from that of Japan and how much more open the Chinese economy is compared to Japan where foreign involvement is still severely restricted. More significantly, Gu shows how global-minded the Chinese are themselves particularly with their embrace of foreign products.
The rise and success of consumerism in China is one of the main themes of "China’s Global Reach" and the book goes a long way toward explaining to a foreign audience (the book is available in English and Portuguese so far) how the ruling Communist party equates its political authority with unfettered materialist determination.
Capping Gu’s book off nicely is an Afterward by Andre Gunder Frank who died last year before finishing his sequel to the ground-breaking and influential "ReOrient : Global Economy in the Asian Age." Frank’s comments are a powerful encapsulation of China’s global impact and a reminder to Americans specifically that the only thing to fear about a rising China is the USA’s response to it.
A delightful read, full of useful information, and interesting anecdotes, "China’s Global Reach" belongs on the desk and bookshelf of anyone with a serious interest in what’s going on in China. Get your copy today !
CONTENTS of China's Global Reach: Markets, Multinationals, and Globalization
Introduction Three New Lessons Growing Up in China Going International Returning Home This Small Book The Big Picture
Acknowledgments
Part I China as a New Global Theater
1. Ambitions of Foreign Multinationals in China Today’s Versions of Columbus and Magellan International Rush Why Are They Here? Why China? One Big Factory-Market More Sectors, More Players
2. The Business of China Is Business! “Empty Talk Destroys Prosperity!” Foreign Bankers Spouses and Children Welcome!
3. Creation of a Global Manufacturing Center Unexpected Contributors Arrival of Indian Companies A Crowded Market Galanz: the Manufacturer of the World Convenient Settings Future Trends
4. The Ultimate Driving Force: Explosive Consumption Unexpected Development Impressive Outcome Continued Consumption Surge
5. Sharp Rise of Private Sector One U.S. Banker’s Discovery 40 Million New Businesspeople Rural and Urban Entrepreneurs Buttons Create a New Industrial Town Jinjiang, Fujian: Biggest Exporting Center for Sport Shoes Low-End Players
6. All Players Are Important Competing International Players Auto Market International Banks International Listings Consumer Views
Part II Global Interactions, Business Dealings, and Job Transfers
7. Learning - A Big Industry Demand for Education A Top School International Involvement
8. The Officials’ Global Reach Officials Lead the Way Guangdong versus Inland Abolishing Bureaucratic Tricks International First New York versus Beijing
9. “Capital Is Not Enough” No Shortcuts Two Lessons to Remember Volkswagen versus Beijing Jeep “Capital Is Not Enough” Ericsson’s Seven Mistakes Bashing Carrefour
10. Global Job Transfers One International Question Hiring by Foreign Multinationals New Era of Global Job Transfers Job Worries around the World Hiring by Chinese Players Global Job Transfers: China versus India
Part III China’s New International Experiences
11. Price, Price, Price A Chinese Edge GE in China Japan’s Global Efforts Cisco versus Huawei Microsoft in China Global Price Reductions
12. When Can Chinese Companies Become Global? Weakness at Home Foreign Observations Low Benefits for China State Banks: “The Troublemakers” A Long Way to Go
13. Chinese Multinationals Some Sizable Chinese Companies Buying Into International Markets Overseas Operations Creating More Partnerships
14. Bringing Foreigners In Trade Fairs Industrial Parks Foreign Acquisitions
Part IV China’s Reform at Home: The Unfinished Task
15. Problems Outpacing Solutions The Ownership Issue State Assets and Death on the Nile “Two Pockets of the Same Jacket” Lack of Weapons and True Owners
16. How Can a Man Still Wear Baby Clothes? Credit Crisis and Banking Problems The Richest Man in Shanghai Corruptive Partnerships
17. Crises of State Sector Rapid Changes in the Managerial Class Hiring Foreign Managers Long Live Competition! Reform Difficulties Painful Layoffs Government Trimming
18. When Can China Achieve Meaningful Restructuring? A Saturated Market Difficulties for a Rational Order The CEO in China and Elsewhere Who Is Responsible for Wealth Creation? Buying Parties Ready? Need for Greater Determination
19. Employment Traps Resident Permits Lives of the Migrants Employment Difficulties for Other Groups Death of a College Graduate
20. Bureaucratic Tails Tails Everywhere Lucky International Players “The Red Building”
Part V Globalization in Light of History
21. An Unbroken Circle? The British Isles as a Global Center China’s Missed Opportunities The U.S. Way: Dumping Losers Expansion and Wealth Creation, Past and Present
22. Universal Companies and Global Expansion Bigger and Bigger Multinationals First Strategy: A Strong Home Base Second Strategy: Creating a New Form of Dominance Third Strategy: A True Global Reach China’s Participation in the World Economy
23. More on the Circle Who Has Affected Globalization the Most? First Factor: Japan’s Global Reach and Retreat What Is Going On in Tokyo? South Korea: Glories and Bubbles Second Factor: Asia’s Financial Crisis Third Factor: The World Trade Organization Unexpected Developments Global Development Orbit
24. How Does China Achieve Sustained Growth? A Great Paradox Effective Government, Different Role The Big Picture A New Model Getting Out of the Box A New World Order
Afterword: China, United States and Global Development by Andre Gunder Frank
Notes
About the Author
George Zhibin Gu, a journalist/consultant based in Guangdong, China. A native of Xian, he was educated at Nanjing University, Vanderbilt University, and the University of Michigan. He holds two MS and a PhD from the University of Michigan.
For the past two decades, he has been an investment banker and business consultant. His work focuses on helping international businesses to invest in China and helping Chinese companies to expand overseas. He has worked for Prudential Securities, Lazard, and State Street Bank, among others. He generally covers mergers and acquisitions, venture capital, business expansion, and restructuring.
Also, he is a journalist on China and its relations with the world. His articles or columns have appeared in Asia Times, Beijing Review, The Seoul Times, Financial Sense, Gurus Online, Money Week, Online Opinion, Asia Venture Capital Journal, and Sinomania, among others. He is also a member of the World Association for International Studies hosted by Stanford University.
He is the author of four books : 1.China and the New World Order : How Entrepreneurship, Globalization and Borderless Economy Reshape China and World, foreword by William Ratliff (Fultus, 2006) ; 2.China’s Global Reach : Markets, Multinationals, and Globalization, afterword by Andre Gunder Frank (revised edition, Fultus, 2006) ; 3. China Beyond Deng : Reforms in the PRC (McFarland, 1991) ; and 4.Made in China ( English edition forthcoming, Fall 08; Portuguese edition, Centro Atlantico, 2005).
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