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08.27.15

China’s Disruptors

Edward Tse
In September 2014, Chinese e-commerce giant Alibaba raised $25 billion in the world’s biggest-ever initial public offering. Since then, millions of investors and managers worldwide have pondered a fundamental question: What’s really going on with the new wave of China’s disruptors?Alibaba wasn’t an outlier—it’s one of a rising tide of thriving Chinese companies, mostly but not exclusively in the technology sector. Overnight, its founder, Jack Ma, appeared on the same magazine covers as American entrepreneurial icons like Mark Zuckerberg. Ma was quickly followed by the founders of other previously little-known companies, such as Baidu, Tencent, and Xiaomi.Over the past two decades, an unprecedented burst of entrepreneurialism has transformed China’s economy from a closed, impoverished, state-run system into a major power in global business. As products in China become more and more sophisticated, and as its companies embrace domestically developed technology, we will increasingly see Chinese goods setting global standards. Meanwhile, companies in the rest of the world wonder how they can access the fast-rising incomes of China’s 1.3 billion consumers.Now Edward Tse, a leading global strategy consultant, reveals how China got to this point, and what the country’s rise means for the United States and the rest of the world. Tse has spent more than twenty years working with senior Chinese executives, learning firsthand how China’s most powerful companies operate. He’s an expert on how private firms are thriving in what is still, officially, a communist country. His book draws on exclusive interviews and case studies to explore questions such as:What drives China’s entrepreneurs? Personal fame and fortune—or a quest for national pride and communal achievement?How do these companies grow so quickly? In 2005, Lenovo sold just one category of products (personal computers) in one market, China. Today, not only is it the world’s largest PC seller; it is also the world’s third-largest smartphone seller.How does Chinese culture shape the strategies and tactics of these business leaders? Can outsiders copy what the Chinese are doing?Can capitalists really thrive within a communist system? How does Tencent’s Pony Ma serve as a member of China’s parliament while running a company that dominates online games and messaging?What impact will China have on the rest of the world as its private companies enter new markets, acquire foreign businesses, and threaten established firms in countless industries?As Tse concludes: “I believe that as a consequence of the opening driven by China’s entrepreneurs, the push to invest in science, research, and development, and the new freedoms that people are enjoying across the country, China has embarked on a renaissance that could rival its greatest era in history—the Tang dynasty. These entrepreneurs are the front line in China’s intense hunger for success. They will have an even more remarkable impact on the global economy in the future, through the rest of this decade and beyond.” —Portfolio/Penguin{chop}

Media

08.26.15

Mapping Fallout From ‘Black Monday’: Who Was Hardest Hit?

David Wertime
August 24, which some have already dubbed “Black Monday,” was not a kind day to global equity markets. The rout began with a massive sell-off in China, where the benchmark Shanghai Composite Index plunged 8.49 percent in just one day. Those losses...

Conversation

08.25.15

Is the Bloom Off the Rose of China’s Economic Miracle?

Arthur R. Kroeber, David Schlesinger, Fred Hu, Derek Scissors
On Monday, August 24, the Shanghai Composite Index dropped 8.5 percent, its second such steep fall since late July, and its worst since 2007. On Tuesday, stocks fell an additional 7.6 percent. The steep slide translates into more than $4 trillion in...

Chinese Investment in Africa: Surprisingly Small, but Growing Fast

Eric Olander, Cobus van Staden, David Dollar
It’s a widespread misconception that just because China is Africa’s top trading partner, it’s also the continent’s largest foreign investor. In fact, China ranks seventh overall in FDI, far behind the United States, long Africa’s largest source of...

Caixin Media

08.24.15

How to Solve China’s Currency Parity Puzzle?

Boosting exports, controlling outbound capital flow and supporting the Chinese currency’s bid for Special Drawing Rights (SDR) status are just some of the reasons cited by analysts for the yuan's unexpected devaluation in mid-August.The yuan...

Features

08.20.15

Is China About to Plunge the World Into Recession?

David Wertime
On Aug. 18, China’s stock market plummeted by a vertigo-inducing 6.2 percent in one day of trading, part of a months-long decline that’s erased over $3 trillion worth of market value from the country’s equity markets. That followed last week’s...

China’s Special Economic Zones in Africa: Lots of Hype, Little Hope

Eric Olander, Cobus van Staden, James Wan
A decade ago, China announced it would develop of a series of Special Economic Zones (SEZs) in Africa to boost trade and industrialization. Given the phenomenal success of China’s SEZs that helped to spark the PRC’s three decades of history-making...

Conversation

08.18.15

How Should the U.S. Conduct the Xi Jinping State Visit?

Evan A. Feigenbaum, Arthur Waldron, Orville Schell, Robert Kapp, Peter Dutton, Perry Link
As tensions increase between China and the United States over the value of the yuan, human rights violations, alleged cyber attacks, and disputed maritime territories, among other issues, how should the Obama administration conduct the upcoming...

China’s Role in Africa’s ‘Looting Machine’

Eric Olander, Cobus van Staden, Tom Burgis
China goes to great lengths to differentiate its engagement in Africa from the continent’s former European colonizers by emphasizing so-called “win-win development.” Chinese leaders regularly visit Africa where they emphatically reject the...

Viewpoint

08.07.15

Here’s What’s Wrong With Most Commentary on the Beijing 2022 Olympics

Taisu Zhang, Paul H. Haagen
Upon hearing that Beijing would be hosting the 2022 Winter Olympics, we wondered what the Chinese government was thinking. The decision seemed counterintuitive, to say the least: For one thing, it barely snows in Beijing, or even in Zhangjiakou, the...

Conversation

08.05.15

Should the U.S. Extradite Chinese Wanted by Beijing?

Jerome A. Cohen, Chen Weihua, Zha Daojiong, Donald Clarke, Ryan Mitchell
This week, The New York Times reported that Chinese officials have asked the U.S. government to help in apprehending Ling Wancheng, a wealthy Chinese business man and the brother of one of the highest-level officials to have been targeted in Xi...

Media

08.04.15

Beijing’s Winter Doldrums

Bethany Allen-Ebrahimian
On July 31, the International Olympic Committee awarded the 2022 Winter Olympics to Beijing, the arid northern capital of a country with little tradition of winter sports. Beijing will be the first city in history to host both the winter games and...

U.S. Not Concerned About Chinese Competition in Africa ... But It Probably Should Be

Eric Olander, Cobus van Staden
The difference between U.S. and Chinese foreign policies in Africa was on stark display in July when president Barack Obama made his landmark visits to Kenya and Ethiopia. The president brought along with him a vast agenda that transcended trade,...

Caixin Media

08.03.15

Villain or Hero for Stock Market Saga?

An obscure equities-trading finance agency that brokers often slighted in favor of bank loans has suddenly taken center stage in the drama playing out in the stock market.But reviews are mixed over whether the four-year-old, quasi-governmental China...

Sinica Podcast

07.27.15

Beijing’s Great Leap Forward: Microbrew in China

Kaiser Kuo, Carl Setzer
{secondary_photo}Great Leap Brewing is an institution. As one of the earliest American-style microbreweries in China, not only has the company rescued us from endless nights of Snow and Yanjing, but it has also given us something uniquely Chinese...

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