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China Shakes the World: A Titan's Rise and Troubled Future – by James Kynge

By James Kynge

“Let China sleep, for while she wakes, she is going to shake the world.” Napoleon’s phrases appear eerily prescient at the present time, because the surprise waves from China’s awakening reverberate worldwide. Award-winning journalist James Kynge takes degree of the tremors made as China’s starving starvation for jobs, uncooked fabrics, strength, and meals — and its export of products, employees, and investments — enormously reshapes global exchange and politics. via dramatic tales of the folks who're using China's transformation — marketers and visionaries, manufacturing unit employees and shop clerks — Kynge describes the breakneck upward thrust of China, the intense difficulties the rustic now faces, and the results of either.

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Extra resources for China Shakes the World: A Titan's Rise and Troubled Future – and the Challenge for America

Sample text

It was like a spark on a haystack. In a few brief weeks, the whole nation had caught fire and Shagang was perfectly positioned to ride the boom that followed. That boom would carry Shagang along the path that eventually reached Dortmund. Chinese and foreign investors alike took Deng's message from the southern tour as a rallying cry for faster economic liberalization. Foreign direct investment began to flood into coastal areas; the Hong Kong stock and property markets rallied; China's own stock markets — one in Shanghai and the other in Shenzhen — were founded; Southeast Asian nations began to sell more resources to the emerging giant in their midst; and in 1995 China's economy grew at more than 14 percent in a single year.

If it does so, it may lay claim to being the largest city on earth. But at the moment, the most extraordinary thing about Chongqing is that it is not necessarily exceptional. Urbanization on a massive scale is happening in towns and cities all over China, and the process is not expected to abate for the foreseeable future. This trend, taken in its entirety, is truly awe-inspiring. In 1949, the year of the revolution, the number of Chinese cities with a population of more than a million was only five, and those with between 500,000 and 1 million inhabitants numbered just eight.

He had a quiet, determined temperament and a shrewd intelligence. By the mid1970s, when his next big chance presented itself, he had risen to a senior position in a factory that had thousands of employees and was committed to expansion. But it could not expand without the steel that was needed to build new workshops, machinery, and housing. Steel was strictly rationed just after the Cultural Revolution and was in chronically short supply all over the country. So Shen, with others, decided to take matters into his own hands and build a secret backyard furnace.

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