business summary

The Chinese Century:
The rising Chinese economy and its impact on the global economy, the balance of power, and your jobs

About the Author：
Oded Shenkar is Ford Motor Company Chair in Global Business Management at the Fisher College of Business, Ohio State University. His research interests include international business, comparative and international management, and strategic and managerial issues pertaining to international strategic alliances, with a focus on China and East Asia. Dr. Shenkar has published numerous books and articles on international business and management and on China in particular. He also has edited several books, including Handbook for International Management Research Second Edition and International Business. Dr. Shenkar serves on the editorial boards of the Academy of Management Executive, Journal of Cross-Cultural Management, Journal of International Business Studies, Journal of Management Inquiry, Management International Review, Human Relations, and Organization Studies. He advises multinational firms, national and state governments, and international organizations, and serves as a member of the Conference Board Council of Integration Executives. He holds a Ph.D. from Columbia University, New York. 1

About the Book:
Is China going to be No. 1 country in the 21st century? What will it mean to you and the world? Oded Shenkar in his book, The Chinese Century, analyses the impact of booming Chinese economy on global politics and economy. He also suggests the western corporations what should do to survive and develop in the Chinese century. Shenkar shows why China's quest for global success differs radically from predecessors such as Japan, India, and the Asia “four tigers”(or little dragons). And he predicts in 20 years, or even sooner, China will replace the United States having the world’s largest economy. This will greatly impact every one on the world：Your job, you company, you career, and you country.

Shenkar’s idea can be explained by the following reasons. First of all, China is not just pushing itself into the modern world, but it is restoring its imperial glory by infusing modern technology and market economics into a despotism system controlled by its bureaucracy. Thus, China’s ongoing development will gradually lead the restructures and transformation in the world’s business system. Besides, China not only owns the cheapest labor in the world, but it also has plenty of skilled professionals. This enables china enter the high technology production realm while maintaining its leading position in its manufacturing industry. Moreover, through the experience from joint venture business, as well as its disregard for intellectual property, China creates sustainable competitive advantage. The 21st century Chinese multinational corporations will grow up rapidly all over the world, and tomorrow’s “Chinese TOYOTA” and “Chinese SONY” will be sold faster and cheaper.

Like in many other recent published Chinese economy related books, Shenkar does not see china as a military threat, but the United States and many other developed countries including Japan are sort of frightened by its dramatic economic development. Yet, China is the only communist nation to achieve rapid economic growth over a sustainable time period. Those western countries, especially the United States, truly believe that China will not be willing to stand in a world controlled by them (the world like today). This can be seen from those countries’ negative reactions toward various Chinese affairs. For instances, in the recent Olympic torch relay, some western medias criticized China for interdicting Tibet from independency and collaterally encouraged protest and disruption on the repay.

Further more, throughout the book, Shenkar previews tomorrow's new competitive ground rules, in terms of employment, consumption patterns, and shows how Chinese ascendancy is redrawing political, economic, and social battle lines. And he shows the reason why the US is most vulnerable to China's ascent: China’s sustainable developing pattern is more like the US itself, rather than other Asia countries. Tomorrow, the world will very possible be “China’s world”.

Key words for future business and leaders in the Chinese century

Shenkar shows what you must do to survive and prosper in "the Chinese Century.":
ü Cheap labor + millions of high-skilled professionals
ü How China will sustain dominance in low-tech industries as it enters high-tech realms
ü Building tomorrow’s Toyotas and Sonys... faster and cheaper
ü Chinese multinationals: learning from joint ventures, preparing to lead
ü Leveraging Hong Kong, Taiwan, Singapore, and the "Chinese diaspora"
ü Bringing together the world’s most powerful pool of human resources
ü $2 Rolexes, and beyond
ü Piracy, counterfeiting, bootlegging, and stolen intellectual property
ü From economics to geopolitics: counterbalancing America
ü Previewing China’s increasingly assertive foreign policy

1. Pearson
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