The Chinese Century The Rising Chinese

By 2015, China may well have the world's largest economy. In The Chinese Century, Oded Shenkar shows how 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... why it represents a fundamental restructuring of the global business system... and why it will transform the roles of participants in the global economy. He previews tomorrow's new competitive ground rules, terms of employment, and consumption patterns, and shows how Chinese ascendancy is redrawing political, economic, and social battle lines. Learn why the U.S. is most vulnerable to China's ascent... how China's disregard for intellectual property creates sustainable competitive advantage... how China's growth impacts global businesses and individual purchasing decisions. Above all, Shenkar shows what you must do to survive and prosper in "The Chinese Century."

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.

About the Author

xiv

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 Native Trader (or the One with More to Lose)

10

(1)

Follow the Curve

11

(1)

Foreign-Generated and ``Self-Inflicted'' 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)

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)

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)

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)

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)

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)

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

(1)

Up (or Down) the Ladder

142

(3)

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)

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

(3)

Nations and States

174

(1)

Global Battle Lines

175

(1)

Epilogue

176

(1)

Endnotes

177

(8)

Index

185

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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