As China evolves, so does the global marketplace—all the way down to the consumer The End of Cheap China is a detailed look at the rise of China, and how it will affect the global marketplace. A thorough exploration of the changes taking place in the Chinese economy, the book explains how much of the Western consumerist culture is built on the back of cheap Chinese factory labor, and warns that the era is coming to a close. Readers will learn why the cheap labor pool is beginning to dry up, what that means for the rest of the world, and how businesses will have to adapt to stay afloat. This updated second edition includes new statistics, the latest news on the Chinese economy, and additional case studies that illustrate the ways in which China has developed—into a brand-new potential market. China's social, political, and economic evolution will affect the entire world. Rising incomes are building pressure on the global commodities market, inflation is only just beginning, and consumers are experiencing sticker shock as cheap labor is becoming harder to find. The End of Cheap China explains the factors driving these changes, the impact that can be expected, and the opportunities that constitute a major silver lining for businesses panicking about the coming paradigm shift. Readers will: Discover the eight mega-trends changing China, and how far the ripples will spread Learn how rising costs in China will dramatically affect the American way of life Examine the rise of Chinese consumption, and the friction it engenders Consider the changes businesses must make to remain profitable in a changing world The global marketplace is evolving, and it's up to businesses to keep pace with the changes. The End of Cheap China provides a roadmap for navigating these changes, helping businesses lead the charge toward a more affluent global economy.

“REIN MASTERFULLY CAPTURES WHERE [CONSUMERS] HAVE BEEN AND WHERE THEY DREAM OF GOING.” —FORTUNE PRAISE FOR THE END OF CHEAP CHINA “Brilliantly written.” —Financial Times “Rein combines elegant writing and methodical research. Years of working in China have given him access to important players. Incisive interviews with billionaires, business executives, government officials, and migrant workers guide the pulse of the narrative . . . essential reading.” —USA Today “Engaging. Full of vivid anecdotes from Chinese billionaires to senior party officials and even prostitutes. For any foreigners thinking about doing business in the Middle Kingdom, The End of Cheap China is a good place to start.” —Reuters “Must-read.” —Consulting Magazine “A lively read.” —Straits Times “An inside look.” —Industry Week “Compelling, engaging, informative.” —The Cayman Islands Journal “Lively, well-written book.” —South China Morning Post “Engaging, highly readable style with real-life examples from vast catalog of China research. For good measure, Rein wedded into China’s elite, marrying the granddaughter of 1980s Politburo chairman Marshal Ye Jianying” —Asia Times

China's changing course, and sustainable success requires a shift in strategy The End of Copycat China helps business executives and investors understand how China's economy is shifting from one based on heavy investment to one on services and consumption by providing insight that help shape effective strategy. Drawing from over 50,000 interviews with entrepreneurs, venture capitalists, private equity investors, private Chinese companies, and multinationals, this book describes how Chinese firms are increasingly focused on innovation rather than copying what worked in America and how consumers are evolving with their hopes, dreams and aspirations. China's growth model of the last three decades is becoming increasingly ineffective, as relying on heavy investment and exports is becoming less and less feasible. Fifty percent of China's growth in 2013 stemmed from consumption, the government is establishing a Free Trade zone in Shanghai and ending the dominance of state-owned enterprises. This book provides a roadmap for companies and investors looking to navigate these changes and capture emerging trends, with deep insight and practical guidance on what innovation looks like in the new China. Survey the development of innovation taking place in China's economy, from an insider's perspective Consider the changes that must take place to shore up the broken growth model Examine the consumer trends emerging in the midst of rapid market evolution Understand how China's rise will impact its neighbors like Japan, Vietnam, Indonesia, and Cambodia China's dramatic shift toward consumption presents a tremendous opportunity for foreign business, but traditional tactics are outdated at best, financially fatal at worst, as local competitors focus on innovation and move up the value chain and as consumers look for new brands and categories to spend money on. New strategies are needed to keep pace with the changing regulatory and consumer environments, and "business as usual" won't get very far. The End of Copycat China is the business guide to this emerging market, with expert guidance from the inside.

With Chinese-led initiatives such as One Belt One Road (OBOR) and the Asian Infrastructure Investment Bank (AIIB) combined with uncertainty due to US shifts in policy and apparent commitments over the past decade, the stakes are high for companies looking to profit from the world’s newest superpower. Post-financial crisis, China has emerged as the largest or second largest trading partner for most countries. It has become the second largest market for Fortune 500 companies like Starbucks, Apple, and Nike and drives growth for Hollywood and commodity products. Yet the profits come at a price for countries and companies alike—they must adhere to the political goals of Beijing or else face economic punishment or outright banishment. Using primary research from interviews with hundreds of business executives and government officials, The War for China’s Wallet will help companies understand how to profit from China’s outbound economic plans as well as a shifting consumer base that is increasingly nationalistic. The countries and companies that get it right will benefit from China’s wallet but those that do not will lose out on the world’s largest growth engine for the next two decades. Click here for information on the author's MSNBC interview: https://mobile.twitter.com/OARichardEngel/status/1147861623211798528 Check out the interviews at Bloomberg, Forbes, and Marketplace on this book: https://www.bloomberg.com/news/audio/2017-12-05/those-who-heed-china-s-political-ambitions-will-benefit https://www.forbes.com/sites/russellflannery/2017/11/28/how-to-profit-from-chinas-rising-nationalism/amp/ https://www.marketplace.org/2017/12/18/world/shaun-rein-interview Financial Times subscribers can read this review of The War for China’s Wallet: https://www.ft.com/content/b6bb55c4-e4b4-11e7-97e2-916d4fbac0da The book's review in South China Morning Post can be read at: http://m.scmp.com/culture/books/article/2126477/book-review-war-chinas-wallet-readable-if-one-sided-view-chinas

China is hot. The world sees a glorious future for this sleeping giant, three times larger than the United States, predicting it will blossom into the world's biggest economy by 2010. According to Chang, however, a Chinese-American lawyer and China specialist, the People's Republic is a paper dragon. Peer beneath the veneer of modernization since Mao's death, and the symptoms of decay are everywhere: Deflation grips the economy, state-owned enterprises are failing, banks are hopelessly insolvent, foreign investment continues to decline, and Communist party corruption eats away at the fabric of society. Beijing's cautious reforms have left the country stuck midway between communism and capitalism, Chang writes. With its impending World Trade Organization membership, for the first time China will be forced to open itself to foreign competition, which will shake the country to its foundations. Economic failure will be followed by government collapse. Covering subjects from party politics to the Falun Gong to the government's insupportable position on Taiwan, Chang presents a thorough and very chilling overview of China's present and not-so-distant future.

After she and her family spent one year not buying any products from China, the author offers revealing insights into the complex relationship between the American standard of living and the numerous Chinese imports that are necessary to maintain it.

The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.

Inside the engine-room of China's economic growth—the China Development Bank Anyone wanting a primer on the secret of China's economic success need look no further than China Development Bank (CDB)—which has displaced the World Bank as the world's biggest development bank, lending billions to countries around the globe to further Chinese policy goals. In China’s Superbank, Bloomberg authors Michael Forsythe and Henry Sanderson outline how the bank is at the center of China's domestic economic growth and how it is helping to expand China's influence in strategically important overseas markets. 100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of China's state-led economic development model, and its most glaring flaws. The bank is at the center of the country's efforts to build a world-class network of highways, railroads, and power grids, pioneering a lending scheme to local governments that threatens to spawn trillions of yuan in bad loans. It is doling out credit lines by the billions to Chinese solar and wind power makers, threatening to bury global competitors with a flood of cheap products. Another $45 billion in credit has been given to the country's two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of China's leaders for its leading companies to "go global." Bringing the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans, China’s Superbank travels the globe, from Africa, where its China-Africa fund is displacing Western lenders in a battle for influence, to the oil fields of Venezuela. Offers a fascinating insight into the China Development Bank (CDB), the driver of China's rapid economic development Travels the globe to show how the CDB is helping Chinese businesses "go global" Written by two respected reporters at Bloomberg News As China's influence continues to grow around the world, many people are asking how far it will extend. China’s Superbank addresses these vital questions, looking at the institution at the heart of this growth.

The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.

China's economic growth has been revolutionary, and is the foundation of its increasingly prominent role in world affairs. It is the world's second biggest economy, the largest manufacturing and trading nation, the consumer of half the world's steel and coal, the biggest source of international tourists, and one of the most influential investors in developing countries from southeast Asia to Africa to Latin America. Multinational companies make billions of dollars in profits in China each year, while traders around the world shudder at every gyration of the country's unruly stock markets. Perhaps paradoxically, its capitalist economy is governed by an authoritarian Communist Party that shows no sign of loosening its grip. China is frequently in the news, whether because of trade disputes, the challenges of its Belt and Road initiative for global infrastructure, or its increasing military strength. China's political and technological challenges, created by a country whose political system and values differ dramatically from most of the other major world economies, creates uncertainty and even fear. China's Economy: What Everyone Needs to Know® is a concise introduction to the most astonishing economic and political story of the last three decades. Arthur Kroeber enhances our understanding of China's changes and their implications. Among the essential questions he answers are: How did China grow so fast for so long? Can it keep growing and still solve its problems of environmental damage, fast-rising debt and rampant corruption? How long can its vibrant economy co-exist with the repressive one-party state? How do China's changes affect the rest of the world? This thoroughly revised and updated second edition includes a comprehensive discussion of the origins and development of the US-China strategic rivalry, including Trump's trade war and the race for technological supremacy. It also explores the recent changes in China's political system, reflecting Xi Jinping's emergence as the most powerful leader since Mao Zedong. It includes insights on changes in China's financial sector, covering the rise and fall of the shadow banking sector, and China's increasing integration with global financial markets. And it covers China's rapid technological development and the rise of its global Internet champions such as Alibaba and Tencent.