Walk out of Myth: Seven Reasons Why China Will Not Change the World

Author: Jonathan Anderson (USA)
Publisher:
Publish Date: 2006-08-01
Features: For the future of China's economic growth, the best is yet to come: by 2025, mainland China will leapfrog to become a major global trading nation, becoming the largest importer of machinery, steel, cement, energy, food, and raw materials; in terms of physical output, its economic total will reach half that of the United States or the European Union; the number of emerging urban middle-class citizens may reach 300 to 400 million, surpassing the total population of the United States today. However, China is not a brand-new economic species; it is merely a re-edition of the "Asian Miracle." On the world stage, China is indeed playing an increasingly important role, but the impact it will have on the global economy is far milder than currently popular claims. In summary, here are seven reasons why China will not change the world.
1. China will not rewrite the history of global economic growth.
2. China will not devour the world's manufacturing sector.
3. China will not buy out the world's financial assets.
4. The RMB will not become the next global currency.
5. China will not become a source of deflationary pressure in global markets.
6. China will not cause other developing countries to stagnate.
7. China will not undermine the "Washington Consensus."
China has already rewritten the history of global economic growth, and it is currently bringing turbulence to global capital and commodity markets, challenging the future of the free-market capitalist model. China's state-owned enterprises and banks are still losing vast amounts of money, its population aging at an unparalleled rate, its political system is mismatched with its economic development, and various latent contradictions and crises are just a hair's breadth away.
Regarding China's current and future situation, both "pro-Chinese" and "anti-Chinese" perspectives are filled with myths. As a direct response to the series of questions above, this book provides an in-depth analysis of the numerous challenges facing China's economy: the relationship between politics and the economy, population aging, bad bank loans, social conflicts, growth models, and China's mutual influence with the world, while also exploring practical solutions.
On the other hand, in response to exaggerated claims, this book reveals the truth about China's economic growth, pointing out that while China is a newly risen Asian dragon, it is not an unprecedented phenomenon in history. It will develop along the established model of East Asia and gradually become the leader of the Asian economy in the next two decades. At the same time, in seven important directions, it will not change the face of the entire world.
For the global topic of "China's Rise and Its Challenges to the World," this book is a work of profound depth, meticulous research, and a calm, objective attitude.