The Chinese Century The Rising Chinese

China is restoring its imperial glory by infusing modern technology and market economics into a non-democratic system controlled by the Communist party and bureaucracy. Shenkar shows why China's quest for global success differs radically from predecessors such as Japan, India, and Mexico. A fundamental restructuring of the global business system is occurring . . . and it will transform the roles of all participants in the global economy. Shenkar previews tomorrow's new competitive ground rules, terms of employment, and consumption patterns, showing how Chinese ascendancy is redrawing political, economic, and social battle lines. This book shows what you must do to survive and prosper in "the Chinese Century. "

Oded Shenkar holds degrees in East-Asian Studies and Sociology, as well as a Ph.D. from Columbia University. He is the Ford Motor Company Chair and Professor of Management and Human Resources at the Fisher College of Business at Ohio State University. Professor Shenkar has studied China for over thirty years and is the author of numerous books and articles on Chinese business and management. His work has been cited in the Wall Street Journal, the New York Times, the Financial Times, the Los Angeles Times, the Chicago Tribune, Business Week, and the Economist, among many others. He has also been cited in major Chinese outlets such as the China Daily and Reference News. He is a frequent advisor to multinational corporations, governments, and international organizations on China-related matters.

Acknowledgments

xv

About the Author

xvi

Chapter 1 The Dawn of the Chinese Century

1

(24)

China in the Global Economy

2

(5)

Resources and Capabilities

3

(3)

The Synergies of Greater China

6

(1)

Coming to America

7

(7)

The Chronic Importer

10

(1)

The Naïve Trader (or the One with More to Lose)

10

(1)

Follow the Curve

11

(1)

Foreign-Generated and "SelfInflicted" Imports

12

(1)

The Currency Play

13

(1)

China Takes on the World

14

(3)

The World's Factory

17

(2)

The Export Imperative

18

(1)

Where the Jobs Are

19

(1)

A Consumer Paradise

20

(1)

The Coming Realignment

21

(4)

Chapter 2 The Middle Kingdom

25

(16)

An Imperial (But Not Imperialist) Heritage

26

(5)

The Imperial Bureaucracy

27

(2)

China and Its Neighbors

29

(1)

The Imperial Imprint

30

(1)

The Modern Era: China and the Foreign Powers

31

(2)

The Shadow of Humiliation

32

(1)

China Under Communism

33

(1)

The Communist Imprint

33

(1)

The Reform Period

34

(1)

Lofty Aspirations

35

(6)

National Symbols

36

(1)

Political Aspirations

37

(1)

Economic Aspirations

38

(3)

Chapter 3 Like No Other

41

(18)

Is China a New Japan?

43

(7)

Analogies of Response

45

(2)

Japan, China, and the Limits of Analogy

47

(2)

The Innovation Imperative

49

(1)

Dragons, Large and Small

50

(5)

Hong Kong

51

(1)

Taiwan

52

(1)

Singapore

53

(1)

South Korea

53

(1)

The Asian Crisis, Misinterpreted

54

(1)

China and India: A Tale of Two Nations

55

(4)

Chapter 4 From Socks to Aircraft

59

(22)

The Technology Legacy

61

(3)

Inventions But No Science

61

(1)

The Price of Falling Behind

62

(1)

Technology by Decree: The Central Planning Legacy

63

(1)

Climbing the Technology Ladder

64

(2)

Leveraging Foreign Investment

66

(6)

Technology Transfer Incentives

67

(2)

Learning from the Barbarians

69

(1)

Indigenous Innovation: Still a Dream

69

(2)

Developing Research Capabilities

71

(1)

Upgrading China's "Humanware"

72

(4)

Transforming the Educational System

73

(2)

The Return of the "Turtles"

75

(1)

Bringing Technology to the Enterprise

76

(5)

OEM, ODM, OBM

77

(2)

Technology as a Freebie

79

(2)

Chapter 5 The Two-Dollar Rolex

81

(20)

Yankee Footprints

82

(2)

Piracy, Counterfeiting, and the Like

83

(1)

The Costs and Benefits of Knock-Offs

84

(2)

An Industry in the Making

86

(5)

Institutional and Legacy Factors

87

(2)

The Organization of Fake Production

89

(2)

Pirating "Digitized" Products

91

(2)

The Enforcement Failure

93

(1)

The Globalization of Piracy and Counterfeiting

94

(2)

Going Forward

96

(5)

Navigating Pirate Seas

97

(4)

Chapter 6 The Business Challenge

101

(20)

Industry Tales

103

(5)

America's Clothier

103

(3)

Furniture from Afar

106

(2)

The Geography of the China Impact

108

(6)

Holding Its Own: The European Union

108

(1)

The Invasion of Japan

109

(1)

Mexico Undone

110

(3)

Friends and Foes: ASEAN and Beyond

113

(1)

What's Coming

114

(2)

Preparing for the Chinese Century

116

(5)

A New Game Plan

116

(2)

If You Can't Beat Them

118

(3)

Chapter 7 East, East, and Away: Where the Jobs Are

121

(24)

Job Migration: Myth and Fact

123

(4)

Job Migration and Job Losses

124

(1)

In Context

125

(2)

Who Benefits?

127

(2)

Macro Promise, Micro Reality

128

(1)

The Economics of Job Migration

129

(3)

Here We Go Again?

132

(2)

China and the Global Labor Market

134

(5)

China's Job Impact

135

(4)

Is Your Job in Jeopardy?

139

(6)

Politics and Policies

140

(1)

Navigating the New Job Landscape

141

(51)

Up (or Down) the Ladder

192

Chapter 8 A TV from Sichuan

145

(16)

The Factory to the World Meets the Consumer of the World

147

(2)

The Nation of Wal-Mart

149

(2)

A Level Playing Field

151

(1)

Pricing

152

(1)

Would You Buy a Chinese Product?

153

(5)

China and the Brand

157

(1)

Is "Buy American" Returning?

158

(3)

Chapter 9 China Rising

161

(16)

Misplaced Analogies

163

(1)

The Tortoise and the Hare

164

(3)

China and the World Trade Organization

167

(2)

Scenarios for the Future

169

(4)

Soft Landing

170

(1)

Hard Landing

171

(2)

Fault Lines

173

(4)

Nations and States

174

(1)

Global Battle Lines

175

(2)

Epilogue to the Hardback Edition

177

(1)

Special Epilogue to the Paperback Edition

178

(11)

Endnotes

189

(8)

Index

197

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The Chinese Century The Rising Chinese Economy and Its Impact on the Global Economy, the Balance of Power, and Your Job

Summary

Author Biography

Table of Contents

Supplemental Materials