From the Back Cover
All the experts agree: the United States and EU are in rapid decline, and China is on the verge of replacing the United States as the world's dominant superpower. It's easy to see why that has become the consensus opinion when you consider China's average 10% annual growth in GDP over the past decade; its position as the dominant consumer of raw commodities and number-one exporter of manufactured goods; and the trillions of dollars that nation holds in reserve currency and its role as primary lender to debt-ridden Western economies.
So, are the experts right . . . will the 21st century belong to China? Or is there a darker reality than that suggested by the picture of rosy good economic health successfully sold around the world by the Chinese government's marketing apparatus?
In a book that is sure to ignite controversy among the punditocracy, in academe and at the highest levels of government, political economist and leading financial journalist James R. Gorrie, makes a compelling case that a closer, more nuanced look at the facts reveals a starkly different truth about the modern Chinese colossus: namely, that it stands upon feet of clay which, even now, are crumbling beneath it.
Rather than a nation on the cusp of replacing the United States as the global superpower, Gorrie avers, China is, once again, on the path to a complete economic and social meltdown. What makes this time different though, is that, unlike past China crises, this one is likely to have a devastating impact on the entire global economy.
Drawing upon a wealth of historical, demographic, statistical, and economic data, Gorrie develops a framework for understanding what's going on inside China now, as well as that country's future prospects, based on the seven key factors:
Stability Is China's economic development stable, and is China's political system capable of responding constructively to instability?
Sustainability Are China's political and economic systems sustainable, or is the Beijing Model based entirely upon external markets and false demand driven by unsustainable debt?
Dynamism Is there a healthy dynamic between Chinese society, the means of production, and the political system, or is Chinese state capitalism a form of "cannibal capitalism"?
Justice Are massive land seizures, a caste system, forced relocations, and slave wages rapidly undermining the regime's legitimacy?
Political adaptation Does Chinese political culture help businesses adapt to financial challenges, or does it become increasingly oppressive as wealth increases?
Creativity Do China's economic system and political culture encourage innovation, or do they rely on theft and other forms of technology transfer, while driving its innovators out of the country?
Renewability: Is the Beijing Model one that fosters renewability, or does it rashly sacrifice long-term stability and resource protection for short-term gains?
A meticulously researched and well-reasoned analysis of the state of China's political economy and the tragic, all-too-predictable missteps that will inexorably lead to that nation's collapse, The China Crisis is must-reading for policymakers, business leaders, and every intelligent reader with an interest in world affairs.
JAMES R. GORRIE writes on macroeconomic topics, investment strategies, and geopolitical events around the world. He has interviewed experts such as renowned economist James K. Galbraith, currency expert Craig R. Smith, and real estate master George Ross of the Trump Organization. His articles have appeared or been referenced on sites such as MSN Money, Seeking Alpha, and Yahoo! Business News. He has served as Editorial Director and Managing Editor for digital publishing firms and is also an award-winning screenwriter, filmmaker (The Indian), and novelist. James also ghostwrites for both famous and semi-famous personalities in America and abroad. Before writing professionally, James spent over eighteen years in the financial industry. He attended the University of California at Santa Barbara where he reached doctoral candidacy in international relations and comparative politics, with an area specialty in international political economy; he also holds a bachelor's degree in economics. James lives in Austin, Texas, with his family and is busy writing for clients, his next novel, a couple of screenplays and another book.
