describes socio-economic issues, industrialization in China its impact on citizens and the world at large. Ted C. Fishman addresses the most current and important change in the world brought by the rapid emergence of China as an economic power.
There is the description on how the crop up of industries in the urban areas has led to massive migration of the population from rural into the urban centers. Then the economic reform steps that China has taken in order to deal with the populations’ demand (Fishman 2). Mr. Fishman describes the strategies China applies that make it to be one of the top competitors in the global market. There is the description of the state of inequality, unemployment and poverty level in China despite its economic rise. What China is trying to do in order to counter its state of inequality is also discussed (Fishman 2-3).
The advanced technology that the country has engaged in has seen it rise to the global calendars giving other countries stiff competition. China Inc. has shown how the Chinese products have caused intense price competition within the global market. And also one of the factors that led to urbanization and industrialization in China which is there focus in the use of energy resources. There is the comparison of the economies of the two countries; china and the United States of America. How the rise in these two economic powers has affected the population and the manufacturing of industrial goods.
The supremacy of the US technology over China is also depicted in the fact that China cannot afford the use of nanotechnology that the USA has ventured in. China on the other hand offers ready market for its produce and low tax incentives (Fishman 6-7). There is the description of the fact that in China the public do not follow the rules especially when it comes to manufactured goods.
This has promoted the rise in the number of counterfeit goods manufactured in china which has over flown into the global market. This practice has contributed to the rise in the Chinese economy since it provides the people with affordable goods. The process further prevents China from obtaining new technologies it desperately needs for development purposes, since other super economies fears the fact that their advanced technologies if sold to China will be corrupted (Fishman 7). There is the review of some issues that provides a stumbling block to the technological strength in the world today. The issue of piracy of Intellectual property has caused many companies to loose market since it gives an advantage to other competitors in the market.
In order to counter this, the country needs to invest in manufacturing infrastructure, produce great expertise and efficient machines that enables them to produce world class goods and services (Fishman 7-8). Mr. Fishman is a graduate of Princeton University and a former trader and member of the Chicago Mercantile Exchange. He is a renowned public speaker and has addressed many gatherings all over the world. He has vast experience in journalism and at the same time is the bestselling author who has researched on the complex socio-economic issues that currently affects China and America. A well structured article, China INC does a good job of reporting not only what is happening in China concerning its economic development, but also how it poses a threat to its citizens, United States of America and the world economy as a whole.
Mr. Fishman is indeed experienced in the socio-economic issues; he has made the subject to be of relevance to day to day living by engaging the audience in a simple and understanding manner. This is so because Fishman has to a great extent, researched on individuals, communities from different nations, performances of companies and come up with views that indeed can help in the reconstruction of the world economy. I would recommend the book to others since it portrays the biggest change in the world economy since World War II and presents basic knowledge to every entrepreneur. The book review offered the opportunity to understand more on how socio-economic activities affect our daily livelihoods. It has revealed to me more a bout the competition that exists in the global market and how countries are strategizing to harmonize their contributions to the world economy. The global economic order has already occurred and it affects every country in the world.