In China's Shadow: The Crisis of American Entrepreneurship (The Future of American Democracy Series) [Hardcover]

Mr. Reed Hundt (Author)

Book Description

Series: The Future of American Democracy Series | Publication Date: October 16, 2006

This book begins with an eye-opening exploration of the rise of China’s economy and an assessment of its potential for further rapid growth. The implications of China’s new power are nothing short of profound, Reed Hundt contends. In China's Shadow proceeds to paint a detailed landscape of the new reality confronting American businesses and citizens. For the first time in over one hundred years, Americans face critical challenges to their economy and way of life owing not only to China’s impending economic might but also to the drift of U.S. business practices and government regulations over the past decade.
Aiming for a respectable defeat in the competition of nations will imperil not only the American Dream of an ever-increasing standard of living but also the American project itself, Hundt warns. Meeting the foreseeable challenges is not a matter of legislative strategy from the political left or right or prescriptive plans for businesses. The best chance for Americans to lead the world in job and wealth creation lies in an expanded and renewed culture of entrepreneurship. Hundt reviews the lessons of the 1990s, when the architectures of law, technology, and leadership produced a robust culture of entrepreneurship, and analyzes how entrepreneurship is being undermined today. He challenges Americans to do what they do best—adapt, invent, innovate, take risks—and points the way for a reinvigorated entrepreneurial society.

Editorial Reviews

Review

“Reed Hundt casts a sober and objective eye on the subject of globalization. The results are a powerful call to action. The solution he advocates—changing the culture surrounding innovation—is daunting.  But, as he points out, nothing less than the future of the United States is at stake.”—Andy Grove, Former Chairman, Intel Corporation

(Andy Grove )

"Reed Hundt offers provocative and intriguing prescriptions for America, as it faces China—its greatest challenge in decades. Offering a unique perspective that combines the role of law, technology, and entrepreneurship, In China''s Shadow should be read from Silicon Valley to the White House."—David B. Yoffie, Max & Doris Starr Professor of International Business Administration, Harvard Business School

(David B. Yoffie )

"Hundt draws intriguing lessons from the late, lamented economic boom years to create a reform agenda for American business, government, and education."—James Fallows, National Correspondent, The Atlantic Monthly

(James Fallows )

"A remarkable book about America''s response to China, one which should change the terms of the national debate in Corporate America, Washington, and Wall Street. It is deeper than any of the policy-oriented books I have seen, totally original in its focus, and extremely well-written to boot."—Jeffrey E. Garten, Juan Trippe Professor of International Trade and Finance, Yale School of Management

(Jeffrey E. Garten )

"This book makes an important contribution to our understanding of American entrepreneurship and of the emergence of China as a major player in the capitalist world."—Richard S. Tedlow, Harvard Business School

(Richard S. Tedlow )

"In China''s Shadow draws a path for an American Renaissance in response to China''s rapid rise. Reed Hundt''s new book combines lessons from history, technology and optimism with insights on every page."—Eric Schmidt, CEO of Google

(Eric Schmidt )

"Reed Hundt has given us a brilliant call to arms, and a blueprint for how to restore America''s entrepreneurial spirit and maintain our economic robustness in the face of an emerging economic rival in China. At once sophisticated and accessible, anecdotal and analytical,  In China''s Shadow is a must read for the business, political, academic and journalistic communities—the sooner people read it, the faster we will get back on track."—Norman Ornstein

(Norman Ornstein )

"The frames we use—think "Cold War" or "cash cow"—shape the challenges and choices we perceive. Hundt reframes China as an amplifier for entrepreneurship. He shows that America''s standard of living is at risk, unless we fight fire with entrepreneurial fire."—Thomas Eisenmann, Harvard Business School

(Thomas Eisenmann )

"Against China''s surging challenge, Reed Hundt has issued a compelling call to re-ignite the nation''s entrepreneurial prowess and renew the American dream."—John Jay Iselin, Marconi Society

(John Jay Iselin )

"Reed Hundt shows characteristic insight into the Chinese challenge by emphasizing the all too anemic American answer. He calls for business and public policy to return to the sources of American growth and advantage in entrepreneurship. This is a timely book, well argued, and right."—Tim Bresnahan, Stanford University

(Tim Bresnahan )

"In China''s Shadow offers a powerful explanation as to why neither economic protectionism, nor laissez-faire complacency amounts to an effective American response to China''s rising economy. Hundt argues persuasively that an effective strategy will require America to stop treating individualism and solidarity, freedom and equality as inherently incompatible. This book is certain to launch an important national conversation."—Peter M. Shane, author of Democracy Online: The Potential for Political Renewal Through the Internet

(Peter M. Shane )

"Without real gut tasting risky entrepreneurialism, all will be lost for America. Reed Hundt makes an original, interesting, and compelling case for its reinvigoration—anyone interested in what happens next must read this"—Barry Diller, Chairman, IAC/InterActiveCorp and Expedia

 

(Barry Diller )

"Brilliantly reminding us when government can and cannot make a difference, this is a polemic in the best sense as it mixes insider stories, far ranging analysis, and barbed opinion. Reed Hundt proposes a bold strategy for using government to support an even deeper entrepreneurial revolution by remaking America''s social contract and technology policy. Big ideas and an insider''s command of the digital technology frontier make this a terrific read."—Peter Cowhey, University of California, San Diego

(Peter Cowhey )

"Reed Hundt''s insights on how to get stuff done are augmented by insider anecdotes on how people got stuff done as key moments in American history. He really gets it—how the world works, what makes America successful and what will keep us successful."—John Doerr, Kleiner, Perkins, Caufield & Byers

(John Doerr )

"Reed Hundt brings a broad depth of experience to this provocative work. America benefits when informed citizens like Hundt are at the front end of thoughtful debate about our nation''s future."—Senator Chuck Hagel

(Senator Chuck Hagel )

"As FCC Chairman during the Clinton-Gore Administration, Reed Hundt sat in the catbird seat of the great technological and economic boom of the 90''s. With his background in government and business, I''m not surprised that he has provided an important, insightful, and brilliantly written diagnosis and prescription of how Americans must respond to global competition. This book is essential reading for anyone who wants to understand the 21st Century."—Vice President Al Gore

(Vice President Al Gore )

About the Author

The former chairman of the FCC, Reed Hundt is senior adviser on information industries to McKinsey & Company, a worldwide management consulting firm in Washington, D.C.

Product Details

• Hardcover: 208 pages
• Publisher: Yale University Press (October 16, 2006)
• Language: English
• ISBN-10: 0300108524
• ISBN-13: 978-0300108521
• Product Dimensions: 9.3 x 6.3 x 0.9 inches
• Shipping Weight: 12.8 ounces
• Average Customer Review: 3.1 out of 5 stars  See all reviews (8 customer reviews)
• Amazon Best Sellers Rank: #2,069,742 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

6 of 7 people found the following review helpful:

5.0 out of 5 stars A Much Needed Book, September 19, 2006

By 

P. Meza (California) - See all my reviews
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This review is from: In China's Shadow: The Crisis of American Entrepreneurship (The Future of American Democracy Series) (Hardcover)

This book offers a much needed intelligent look at the impact that China's successful globalization may have on the United States. The book is data driven but is also entertaining and very well-written. It is an important read for anybody concerned about the U.S.'s potential rivalry with China and what U.S policy makers and leaders are doing about it (or not doing about it). If you wonder how China's rapidly increasing economic power might impact you or your children, you should start with this book.

8 of 11 people found the following review helpful:

2.0 out of 5 stars More DLC prescriptions, Clinton hagiography and thin China analysis make for skimpy, platitudinous read, December 5, 2006

By 

S. J. Snyder "De gustibus non disputandum" (Various, United States) - See all my reviews
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This review is from: In China's Shadow: The Crisis of American Entrepreneurship (The Future of American Democracy Series) (Hardcover)

First, the DLC medicine.

Hundt never says anything was wrong with the "free trade without requiring fair trade" Democratic Leadership Council stance of the 1990s. Nor does he, if we go with the theoretical statement of "free trade is good overall, but bad for certain individual Americans," ever address the issue of how much more the government should do for free-trade displaced American workers, especially when displaced by unfair trade.

Basically, this part of his book says: "Free trade works, China is working it in a different style than American capitalism, and to the degree China won't be changing from this and will have longer-term success, America needs to adapt." In other words, since he's saying nothing is wrong with NAFTA and then the WTO above all else, nothing needs to be addressed in this part of the U.S.-China relationship.

Beyond that, many of his comments about the economic future of how he thinks this relationship should play out are little more than platitudes.


Second, the Clinton on a pedestal part

Although Hundt does let the mask slip once or twice as to not blaming Bush for every economic problem of the current decade/century/millennium, he nonetheless paints with a pretty black-and-white palette.

For example, he never mentions that the dot-com bubble bursting, and the accompanying recession, were happening already in 2000, before Clinton left office. He never mentions that the housing bubble of the 2000s, the result of how Greenspan/the Fed addressed the recession, would have happened just as much under a President Gore as a President Clinton. He nowhere faults the Clinton-era Greenspan for letting the market get so exuberant as to letting the dot-com bubble inflate so much in the first place.


Third, the thin China analysis

Nowhere does Hundt discuss China's potential downsides along with its upsides. And those potential downsides are many.

For a starter, they include: lack of arable land, with more being lost all the time; water supply/quality issues; general environmental degradation; pollution; not a lot of resources outside of its coal (not always the best quality) and the hydroelectric power from its new dams; and whether the degree of state intervention in, and even partial ownership of, private businesses, won't turn out to be a big downside, especially given the amount of corruption/shakedowns this often involves.


In short, you can do far better than this book.

If you're a progressive, you will want a different analysis of international trade issues and how the issue has been handled domestically, including by Clinton. If you're an environmentalist, or otherwise familiar with things such as global warming, Peak Oil and Peak Heavy Metals, you might want a more sober analysis of China's natural resources.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Fascinating treatment of a critically important subject., February 23, 2007

By 

Gretchen C. Rubin (New York, NY USA) - See all my reviews
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This review is from: In China's Shadow: The Crisis of American Entrepreneurship (The Future of American Democracy Series) (Hardcover)

This book is fascinating and a little terrifying -- when you see all the steps we should/could be taking as a country to meet the challenges of globalization and China, in particular. IN CHINA'S SHADOW lays out the current state of affairs and explains what the next decades could hold for the United States, given current or possible policy decisions.