China On the Brink: The Myths and Realities of the World's Largest Market
China On the Brink: The Myths and Realities of the World's Largest Market
by Henderson, Callum.

New York McGraw-Hill Professional, 1999.

China--Economic conditions--1976-


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As China goes, so goes the rest of the world, argues Callum Henderson in China on the Brink. If the world's largest market--with more than 1 billion people--succeeds in getting its financial house in order, Asia and the rest of the global economy will know stability and prosperity. If not, China will start a domino effect, spurring an international crisis and worldwide recession, according to Henderson, an emerging-markets analyst based in London.
Henderson explores in great detail where China stands today, economically, politically, and socially, and predicts where he sees the nation going. He debunks Western myths about China and points out that while China avoided the worst of the financial meltdown that burned much of Asia in 1997 and 1998, it did not escape unsinged. The nation's growth slowed dramatically, unemployment rose, consumer demand shrank, and the gap between rich and poor widened, to name just a few economic ills. Two of the biggest problems threatening China and its people, according to Henderson, are the inefficient state-owned enterprises and the bankrupt state banks. Without timely reform, the nation and the rest of the world could be thrown into financial chaos. "If the world isn't holding its breath, it should be." For anyone interested in the evolving global economy, the future of China, or investing in that part of the world. --Dan Ring