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Dealing with China: An Insider Unmasks the New Economic Superpower Audio CD – Audiobook, Unabridged
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-- BusinessWeek, on Paulson's ON THE BRINK
"Engaging, well-written narrative."
--Wall Street Journal, on Paulson's ON THE BRINK
"Henry Paulson was for better or worse the leader throughout the crisis. Throughout the book Paulson truly shines."
--Daily Markets, on Paulson's ON THE BRINK
About the Author
Top Customer Reviews
With an easygoing storytelling and narrative style, deepened by insight and candor, Paulson weaves together three strands in his book:
!. A rare up-close look at China's contemporary political and business leaders, showing how they think and maneuver. Few people have spent so much time with the top people of China or have such a keen eye for discerning what makes them tick.
2. An analysis of the challenges China faces in its process of economic reform and urbanization. As head of the Paulson Institute that he established to engage with China, he has thought deeply about China's problems, ranging from debt to the need to design sustainable cities, protect wetlands, and become environmentally responsible.
3. A guide for how U.S. political and business leaders can best blend competition and cooperation to help China become a responsible part of an economic and political global order.
Above all, the book is an enjoyable, lively, colorful read -- in addition to being a fascinating way to learn about what's really happening in China today.
Paulson, who courted China as Goldman Sachs chief, U.S. Treasury secretary and then as head of his eponymous “think and do tank”, paints a vivid picture of a China that pretends to no longer exist. It’s a land where noble officials beg straight-talking American bankers to help get their finances in order - at least until the financial crisis. It’s a world where favours are repaid. It’s the first third of the book, in which Paulson establishes Goldman’s toehold in the People’s Republic, that resonates most.
America’s most controversial investment bank won the trust of Chinese officialdom when rivals mostly ignored the country. Morgan Stanley, an early mover in the 1990s through its joint-venture investment bank China International Capital Corp, was mired in infighting and ineptitude. To this day, Goldman is one of only two foreign companies permitted full management control over their brokerages in China.
Paulson might be most proud of his upfrontness and ability to listen, but readers will be more struck by an indefatigable pursuit of personal connections, and a willingness to use them opportunistically. An environmental-group meeting with President Jiang Zemin is seized as a chance to discuss Goldman Sachs’ role in China’s capital markets. While running the Strategic Economic Dialogue, he secures the outward passage of a formerly jailed activist.Read more ›
I subtract one star from the first part that reads like a memoir interleaved with HBS case studies, Goldman Sachs pitch book and mega deal tombstones. An educated reader well subscribed to the Western World press on China subjects may find this part lacking fresh insights. A plethora of personal anecdotes about the China’s past and current Who’s Who provide no relief for a casual reader. The only part that has made me chuckle is Premier Zhu Rongji’s long johns, and the fact that Mr. Paulson is a good listener and keen observer in his dealing with Chinese officials.
The second part is more interesting and insightful. Secretary Paulson writes with candor and peppered his memoir with occasional humor when he doesn’t have to write pitch book for the U.S. Treasury – China has already bought up “the safest and most liquid” paper the U.S. debt so the obligatory compliment is used sparingly. I even found suspense (spoiler alert): I was nervous for the U.S. Treasury Secretary’s wife Wendy when she entertained a group of top power brokers from China, including its first female Vice Premier Wu Yi, central banker Zhou Xiaochuan and the now-jailed Bo Xilai, with takeout from Whole Foods. The main takeaway of the story for me is to keep ‘em hungry so anything on the plate is palatable. But the U.S. can’t do that to China any more and Secretary Paulson has made the case in his book, and Wendy Paulson a hero in my mind.Read more ›
Paulson's account does demonstrate reasons to be optimistic because it contains a great many details about businessmen, state officials, and business schools trying to foster best practices. There are also those working with Paulson and his wife on environmental issues. Most importantly Paulson notes that China refused Russian pressure to sell American investments during the 2008 financial crisis in order to undermine the American economy and give Russia and China an advantage. He's also quite candid and critical about the endless subsidies to some state owned industries that continue to run up debts.
I really enjoyed the details of the personnel and deals described and analyzed in this book, but I could easily imagine that other readers might find the mini resumes provided about nearly everyone in the book to be tedious. Paulson's editors should consider producing an abridged version to provide the book to a broader readership.
One comes away from Paulson's book impressed by the innovative instincts that allowed Goldman Sachs to help large state owned companies raise capital through the kind of IPOs usually reserved for publicly owned private companies. Clearly such actions have helped produce the Chinese economic miracle.Read more ›
Most Recent Customer Reviews
Henry Paulson’s “Dealing with China” is a remarkable source of learning for anyone who does or will do business with China. Read morePublished 15 days ago by Amazon Customer
This book does give unique front-line information about China, but it also provides some reality input crucial to understanding
the gaps between economic theory and reality,... Read more
This is unreadable and the title is all wrong. I made it through 88 pages and had to stop. It has nothing to do with "dealing" with China but rather how many names Mr. Read morePublished 21 days ago by Robert Sparrenberger
Prior to reading this book, it is important to get to know Henry Paulson. As CEO of Goldman Sachs Hank Paulson led Golden Sachs and the other Wall Street banks in buying,... Read morePublished 27 days ago by Amazon Customer
Full of admiration and Respect
This is a rare book to understand the inner detail of successful dealing with Chinese Leaders and how Secretary Paulson can objectively... Read more
Henry Paulson’s subtitle “A Insider Unmask ….” Is the strong point of this work. As the president of Goldman Sachs, Pres. G. W. Read morePublished 2 months ago by wsmrer
I just finished Henry Paulson’s memoir. Although I found it a rather difficult read, it was very illuminating. Read morePublished 2 months ago by Bill Wilson
Revealing ! How a communist country try to merge their way of thinking with an open, transparent ,democratic nations run by rules and laws .Published 2 months ago by Lamberto T. Galang
Outstanding! A wealth of knowledge and brilliant insights, yet easy to read and understand! An essential read, as China is essential to the health of the global economy and... Read morePublished 2 months ago by Amazon Customer