I certainly do not agree with all the views, but the conviction of the author's arguments serve to rock existing thinking and prompt readers to reassess their views.
The book takes a rare fordward-looking approach to analyze the complex economic cross currents that are unfolding in the coming years. It builds the thesis of a new economic paradigm on not only the rise of China's economic clout, but also on Asia's structural woes, insufficient reform and persistence of crony capitalism.
This book also goes an extra step to link the global economic development (problems) with Asia and China's development. The author argues that the changing global dynamics are part of the puzzle that builds the new economic paradigm.
There is something for different types of readers to chew on. Those economic-oriented souls will find a wealth of clearly written theories to feast on. Those less technical readers will get a solid snapshot of the economic powerplays currently underway in Asia.
The thrust of the book's message is 3-fold: 1) China's growth is more than hype and lies; 2) China's rising economic clout is not a zero sum game (by stealing others' lunches) - it could indeed enlarge the lunch for everyone; and most crucially 3) China's growth is creating a new economic paradigm, where the good old days of easy money and strong pricnig power are gone.
The author's observations of the future global pricing trends and a new Asian business model are both far-reaching and insightful.
His view of a decaying Japan may be too strong. But the message to the regional governments is clear - adapt to the new economic era by uprooting the old habits and living with China and stop scapegoating China for their policy failures.
The author is a China bull. But he does not deny the massive woes that China is facing - broken banks, corrupt state firms, lack of accountability, mounting pension liability and so on. What he differs from the conventional pessimists is his reading of reform dynamics. He sees China moving fowrad, albeit slowly, instead of standing still waiting for a disaster to happen.
Only time will tell if China would help make Asia a happier richer region, as the book argues, or it will be a destabilizing force crushing the region. This book will serve as a reality check in 10 years' time.
Inspiring in its case studies, one on 'China's Pressure on Hong Kong' and the other on 'China's Pressure on Taiwan'. A lively and concise book, which provokes the question of 'Will China become the number one economic powerhouse in the 21st Century'?
As China are exhibiting competitive stress in the global manufacturing advantages, quite similar to the Asian's success back in 1980/90s, these Asian countries do require extra efforts to move up the competitive edge in order sustain its pre-crisis economic dynamics.
In the meantime, the author also provides his viewpoints on why China will overtake Japan's fading dominant position in Asia, partly because of Japan's continual denial of her failures in a number of reforms for the past decade.
This book is not only a good reference book for executives eager to explore China's role in the post-crisis economic transformation, but also illustrating a lot of interesting obervations and open-end questions for further studies.