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    No Ancient Wisdom, No Followers: The Challenges of Chinese Authoritarian Capitalism (Paperback) By (author) James McGregor

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    DescriptionIn the past three decades, China has risen from near collapse to a powerhouse -- upending nearly every convention on the world stage, whether policy or business. China is now the globe's second largest economy, second largest exporter, a manufacturing machine that has lifted 500 million of its citizens from poverty while producing more than one million US dollar millionaires. Then why do China's leaders describe the nation's economic model as "unstable and unsustainable"? Because it is. James McGregor has spent 25 years in China as a businessman, journalist and author. In this, his latest highly readable book, he offers extensive new research that pulls back the curtain on China's economic power. He describes the much-vaunted "China Model" as one of authoritarian capitalism, a unique system that, in its own way, is terminating itself. It is proving incompatible with global trade and business governance. It is threatening multinationals, which fear losing their business secrets and technology to China's mammoth state-owned enterprises. It is fielding those SOEs - China's "national champions" -- into a global order angered by heavily subsidized state capitalism. And it is relying on an outdated investment and export model that's running out of steam. What has worked in the past, won't work in the future. The China Model must be radically overhauled if the country hopes to continue its march toward prosperity. The nation must consume more of what it makes. It must learn to innovate. It must unleash private enterprise. And the Communist Party bosses? They must cede their pervasive and smothering hold on economic power to foster the growth, and thus social stability, that they can't survive without. Government must step back, the state-owned economy must be brought to heel, and opportunity must be freed. During the Tang Dynasty, an official in the imperial court observed: "No ancient wisdom, no followers." He was lamenting that regime was headed alone into dangerous and uncharted waters without any precedent for guidance. Again today - as McGregor makes clear - this is China's greatest challenge.

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    No Ancient Wisdom, No Followers
    The Challenges of Chinese Authoritarian Capitalism
    Authors and contributors
    By (author) James McGregor
    Physical properties
    Format: Paperback
    Number of pages: 146
    Width: 152 mm
    Height: 229 mm
    Thickness: 9 mm
    Weight: 242 g
    ISBN 13: 9781935212812
    ISBN 10: 1935212818

    B&T Merchandise Category: GEN
    B&T Book Type: NF
    BIC E4L: ECO
    Nielsen BookScan Product Class 3: S4.5
    BIC subject category V2: KCL
    B&T General Subject: 180
    DC21: 330.122
    Ingram Subject Code: BE
    Libri: I-BE
    DC22: 330.122
    Warengruppen-Systematik des deutschen Buchhandels: 27830
    BISAC V2.8: BUS069020
    Abridged Dewey: 337
    LC subject heading:
    BISAC V2.8: BUS029000
    LC subject heading: , , ,
    BISAC region code:
    LC classification: HC427.95 .M42 2012
    LC subject heading: ,
    Ingram Theme: INDS/ASIAN
    Thema V1.0: KCL
    Edition statement
    New ed.
    Illustrations note
    black & white illustrations
    Perseus Books Group
    Imprint name
    Prospecta Press
    Publication date
    06 November 2012