China Inc - China challenging United States ?
Mr. Ted C. Fishman in his book China, Inc.: How the Rise of the Next Superpower Challenges America and the World has carefully examined the impact of China's exceptional growth, forced by the world’s most rapidly changing economy. This book reflects facts on China’s growing dominance as an industrial superpower. Fishman says that the foreign investment and knowledge of technology drives the increasing output of China's low-cost factories and the growing desire of its consumers. China’s transition state from communist ideology and poverty, to the center of global market reflecting the wide spread words “Made in China” in terms of money is truly exceptional.
China, because of its low-cost and high-tech factories has moved up in industrialization and technological ladder to become the world’s largest maker of consumer electronics, toys, clothing, shoes etc and is rapidly moving up the ladder in car production, computer manufacturing, biotechnology, aerospace, telecommunications and sectors like hydraulic power plants, cement, earthmoving equipment, paving equipment, and engineering. Fishman points out that more than 70 percent of the products sold in Wal-Mart stores is made in China. The fact is that the world is also investing in China. Not only China's big company’s designs are changing the world, but also numerous modest ventures which are necessary for the world, reaches China.
China is being influencing the daily lives of consumers, workers, citizens, and even parents, worldwide. The huge population working for low wages powers the booming Chinese economy. American companies cannot compete with these wages forcing them to move their operations to China or completely change the focus of their business. China, with its dynamic economy, is sometimes a partner and at other times a competitor of the United States. The book depicts how China has made a palpable effect on the American economy and is prompting the world to change along with it. It is forcing us to make big changes in how we think about ourselves as consumers, workers, citizens, and even as parents. Fishman assesses the position of China’s future as a world class power and says that this era is going to be the “Chinese Century”.