The China Dream: The Quest for the Last Great Untapped Market on Earth

"An entertaining, if cautionary, tale of Western business woes in China, stretching back seven hundred years" ( The Wall Street Journal ). In The China Dream, acclaimed business journalist Joe Studwell challenges the predictions that China will become an economic juggernaut on the world stage in the twenty-first century—and instead foresees an economic crisis. Tracing the most recent developments in China from Deng Xiaoping's "liberalization" of its market in the 1980s through the opening of its economy to foreign investment in the 1990s, Studwell examines the roadblocks to the continuation of the country's unprecedented expansion and why its economy will fail once more—but this time, harder than ever before, and with potentially catastrophic results. Provocative and flawlessly researched, The China Dream analyzes what's really going on in China—and what we can do to prepare for the coming crisis. "The much-needed antidote to the delusions... about the riches to be made from investing and selling in China. Brimming with... statistics." — The Washington Post "[A] detailed account... An excellent examination of the political and economic history of China, fascinating and mostly unknown to Westerners." — Booklist (starred review) "Lays bare much of the stuff and nonsense that surrounds the China dream, and traces how myth and misunderstandings—compounded by hype and lashings of snake oil—have bewitched some of the world's most respected corporations and led them to ruin the proverbial $1.3 billion consumer market... As such, it deserves to help redefine the debate on the nature of the China market." —James Kynge, China bureau chief of the Financial Times