From the Inside Flap
China is steadily emerging as the economic miracle of the 21
st century. Its transition from a state-controlled to a capitalist economy has occurred at a remarkable pace. It is only twenty-five years ago that Deng Xiaoping initiated revolutionary economic reforms to open up China. The country’s unprecedented growth is nurturing a new wave of world-class companies that are beginning to make an impact on the world’s markets. But is China’s growth sustainable? And what are its implications for the world’s companies?
Dr. Jonathan R. Woetzel, a Director in McKinsey & Co.’s Shanghai office, provides a fact-based perspective of China’s economic revolution. While risks remain, China’s transformation from planned to market economy is beyond the point of no return. Competitive advantage has replaced government relationships as China’s business currency. Applying an industry-by-industry perspective, Dr. Woetzel pinpoints the important trends and opportunities affecting the key industrial and service sectors, and determines the key success factor in each.
Leaders of successful local and global companies such as Legend Computer, BP, LVMH, Orient Overseas, BHPB, Corning and Portman Holdings add their personal experience and perspectives on what it takes to win in China. They share their unique insights into the strategic factors that have driven then to invest, and describe the organizations that they have build in China.
With over 150 consultants in Hong Kong, Beijing, Shanghai and Taipei, McKinsey & Co. has been the leading management consulting firm in Greater China for over two decades. Drawing on that experience, this book is an indispensable guide for business executives as well as an informative introduction to the Chinese economic phenomenon.
From the Back Cover
“Joanthan Woetzel’s new book on China is a magisterial contribution. It is a must read for the generalist but also a precise examination for business people who need to understand what is happening in sectors as diverse as the computer, steel, services, auto and retailing industries. Governments, academics and business people will devour his research. I have.” —
MIKE MOORE, Former Director-General of WTO. Former Prime Minister of New Zealand“In an era in which all global business leaders must become China-hands or lag behind their competitors, Jonathan Woetzel’s new book is a major new user’s guide for us all.”— W. JAMES MCNERNEY, Jr. CEO and Chairman of the Board, 3M
“This book presents a timely and interesting look at conducting business in China as it develops into a major economic power. The various industry examples as well as the CEO intereviews make Capitalist China a rich source of ideas for navigating the changing environment.” — GREG SUMME, Chairman, PerkinElmer, Inc.
“Jonathan Woetzel is truly a China business expert, analyzing economic issues and business practices with full domestic knowledge. I agreed whole-heartedly with his prediction on China’s steel industry consolidation, a truly insightful analysis. A must-read for those interested in investing in China; a refresher course to all doing businesses in China; a reminder to all those Chinese State Owned executives who wish to excel in the past WTO environment.” – ANDREW YAO, Chairman of Van Shung Chong Holdings Ltd. Member of Shanghai Political Consultative Committee
“Multinationals around the world are asking themselves, ‘What is the real size of the China opportunity, and how do we tackle it?’ Capitalist China tells us that the answers are always complex, and different for every line of business. It combines an excellent overview of the new Chinese market economy with a detailed analysis of the strategic positions of China’s key industries and sectors. It should be on the required reading list for any serious observer of the Chinese business or economic scene, or indeed, any serious student of China.” – HOWARD CHAO, Chair, O’Melveny & Myers LLP
