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Book Dealing With China: An Insider Unmasks the New Economic Superpower

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Dealing With China: An Insider Unmasks the New Economic Superpower

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    Available in PDF - DJVU Format | Dealing With China: An Insider Unmasks the New Economic Superpower.pdf | Language: ENGLISH
    Henry M. Paulson Jr.(Author)

    Book details


When Hu Jintao, China's current leader, came to visit the New York Stock Exchange and Ground Zero in 2002, he asked Hank Paulson to be his guide. It was a testament to the pivotal role that Goldman Sachs had played in helping China experiment with private enterprise. As the two men stared at the physical destruction Al Qaeda had unleashed on US soil, Paulson was standing next to the man who embodied a greater threat--and a greater opportunity--for the US in the years ahead.


In DEALING WITH CHINA, the bestselling author of On The Brink draws on his unprecedented access to both the political and business leaders of modern China to answer several key questions:


·How did China become an economic superpower so quickly?


·Who really runs China?


·How does business gets done there?


·What are the best ways for Western business and political leaders to engage, compete and beat China?


·How can Western investors profit in China?


·Can China be stopped? DEALING WITH CHINA is written in the same anecdote-rich, page-turning style as his memoir, On The Brink. If his last book was about the hot war of the financial crisis; his current project is about cold war. And cold war often makes for more interesting reading.

"Engaging, well-written narrative." --Wall Street Journal, on Paulson's ON THE BRINK"Henry Paulson was for better or worse the leader throughout the crisis. Throughout the book Paulson truly shines." --Daily Markets, on Paulson's ON THE BRINK"Engaging, well-written narrative." --Wall Street Journal, on Paulson's ON THE BRINK"Delivers a highly personal, you-are-there feeling for how top players in government and finance staved off a disaster." "BusinessWeek, on Paulson's" ON THE BRINK""""Engaging, well-written narrative." "Wall Street Journal, on Paulson's ON THE BRINK"""Henry Paulson was for better or worse the leader throughout the crisis. Throughout the book Paulson truly shines." "Daily Markets, on Paulson's ON THE BRINK""Praise for ON THE BRINK, "New York Times," "Wall Street Journal," and "USA Today" Bestseller "Penetrating . . . goes behind closed doors . . . a highly personal, you-are-there telling for how top players in government and finance staved off a disaster that could have been much worse." ""Bloomberg News""""Fast-paced . . . engaging . . . well-written." ""Washington Post""""Highly detailed . . . a gripping book." ""Wall Street Journal""""Concentrates on his extraordinary thirty months at Treasury . . . Paulson had to wrestle with more, and more burning, crises than any Treasury secretary in history." "Roger Lowenstein, author of "The End of Wall Street," and journalist, "New York Times Book Review""""Tells how he brought us back from the brink of financial collapse . . . [includes] major revelations . . . Read On the Brink and get Paulson's take on the whole affair." "Forbes.com"""The first lengthy account of the crisis from a key decision maker. The book offers a look at Paulson's thinking during those scary days, as well as his sometimes unvarnished opinions of other Washington characters, many of whom had central roles in managing the government's response." ""Dallas Morning News""""A fantastic read . . . succinct and to the point." ""Business Insider""""But Mr. Paulson's warnings demand attention...[he] knows more about China, its politics and the players behind it than most Westerners...Mr. Paulson's analysis in his book...are all the more remarkable because he has long been a bull on China and has deep friendships with its senior leaders." "Andrew Ross Sorkin, "The New York Times"""

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Book details

  • PDF | 400 pages
  • Henry M. Paulson Jr.(Author)
  • Business Plus (1 Jan. 1960)
  • English
  • 8
  • Business, Finance & Law

Read online or download a free book: Dealing With China: An Insider Unmasks the New Economic Superpower

 

Review Text

  • By Mr. D. J. Walford on 3 January 2016

    China: The new international economic monolith. A nation whose future is written in the stars as a world leader, or so we've been led to believe. Henry Paulson delivers here both a clear and concise history of doing business in, and with, China and also provides a blueprint on how to improve business relations with the Asian giant in the future. Paulson himself is an expert in his field and I found 'Dealing With China' to be both hugely informative and very entertaining, especially as I have minimal knowledge and understanding of business practices in general. The author presents his work in clear and understandable language and I was greatly impressed both by the change that has taken place in China over the past twenty years but also the very positive and productive co-operation that has taken place between the United States and the Chinese. Mr. Paulson's book makes for a refreshing change.Mr. Paulson has spent nearly twenty years doing business with the Chinese. Whilst working for Goldman Sachs since the late nineties, through to his time as Treasury Secretary in Bush Jnr's government and his work beyond, the author provides a fascinating account on how he and his colleagues worked with China's leaders to assist them in building up and re-organising their burgeoning economic might. The gargantuan state operated enterprises (SOE) that characterised China's economy were unproductive and noncompetitive, making losses so huge that the true amount could not be ascertained. Paulson and Goldman Sachs provided much advise and expertise on where to make the correct alterations in order to achieve success. The first half of the book documents Paulson's time at Goldman Sachs and the processes employed to assist the Chinese including the re-organising of their industries, the changing of business practices and also the training of executive managers who are skilled enough to make the decisions required to succeed.The author became Treasury Secretary in 2006 and was to play a huge role in the creation of the Strategic Economic Dialogue (SED) between the United States and China. The SED, and it's successor under the Obama administration; the S&ED, has since become a major pillar in bilateral relations between the two nations. Indeed, the author highlights and re-emphasises just how co-operation is essential to future bilateral success and this constitutes a running theme throughout the book; the many positive benefits that come from constructive dealings with China and it's leaders. This is also assisted by the author's personal relationships with China's leaders.A huge amount has been achieved over the previous two decades, however, much more needs to be accomplished. Mr. Paulson is above all a realist and gives significant attention to issues and problems that China still faces in it's battle to achieve greatness. Much reform still needs to be made by China both socially and economically. SOE are still very noncompetitive and sluggish. These same SOE provide many non-profitable services and facilities to their workers who still need to be provided for in a post SOE environment. China still relies too much on it's exports to power its economy and needs to develop an internal market for commodities and services which is still some way from being achieved. There is great inequality in wealth, crippling corruption is rife and there are huge environmental issues which need to be dealt with thanks to Chinese cities rates of industrial production, something the author takes a personal interest in. Mr. Paulson also states that, in his expert opinion, a certain amount of political reform may need to occur in order for China to develop a truly competitive free-market economy; constructive criticism from an expert in his field.I have always been of the opinion that China's 'rise' is not inevitable and much needs to be done in order for the country to become the world power its been slated to be and Mr. Paulson's work confirms this view to an extent. China has come a very long way in the past twenty years, yet more needs to be done in order for that growth to continue, and the author acknowledges exactly this. This is an excellent work and is both a history of dealing with China and also a guide to future success as well. Above all, I was impressed by how much both US and Chinese officials were willing, and indeed are willing, to work together and build a secure world order.


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