Is China Buying the World by Peter Nolan - Book Report/Review Example

Book Review Table of Contents Introduction 3 Aim/ Objective 3 Discussion 4 Opinion of Critical Reflection and Content Provided In the Book 6 Assessment of the Suggestions made by the Author 7 Critical Opinion on the Issues Being Faced and the Strategies Being Implemented 7 Conclusion 9 References 11 11 Introduction China, over multiple decades has fascinated the world because of its richness in the areas of tradition and culture. However, in this present scenario, this global giant appears to be fascinating the world with multiple other factors such as technological standards, economic growth, financial reserves, international competitiveness and multiple more. From the general perspective, this might appear fascinating, but if seen from the business perspective, then it might not appear as a profitable prospect for other global giants. Over the past few years, this nation has held the title of being the fastest developing nation in world. Its financial figures and GDP rates projects live evidence regarding such quotes. In addition, taking reference of the present state of the global market, it can be stated that this nation has a huge perspective of surpassing all the present hyper power nations of this planet (Nolan, 2013). The development of its expertise in the areas of technology, banking sector and cheap product manufacturing has appropriately equipped this nation with the effective capabilities in terms of sustaining the global market competition. Taking reference from all these aspects, the provided book i.e. ‘Is China Buying the World? Peter Nolan’ has elaborated much regarding, how the swift development pace of China might pose multiple challenges against other global giants. The facts mentioned within this book helps in creating a debatable scenario through which, an understanding can be attained regarding how China in the coming days will be standing up against the global multinations (Nolan, 2013). A detailed review of these mentioned facts have been provided in the later section of the discussion. Aim/ Objective The objective of this book review is to compare the available economic facts of China with those provided in the book named ‘Is China Buying the World? Peter Nolan’. Based on the attained comparative data, various conclusions will be provided regarding how China will attain the top rank of the global market. In addition, the review will also analyze the book on multiple criteria such as thought clarity, level of information being imparted, undetermined and unmentioned factors and many more. Associated criticisms will also be made in case the provided book fails to impart a clear understanding to the readers regarding all its mentioned facts. Discussion Nolan (2013) appears to have discussed much amount of details regarding the economic aspects of China at the starting stage of the book, which turned out to be quite interesting. Imparting present information to the reader regarding the economic condition of China will help him / her to understand the facts regarding how China plans of going on top of every other global major. The detained elaboration of the concepts such as ‘Gross Domestic Product (GDP)’, ‘Purchasing Power parity (PPP)’ associated with China can be considered as beneficial in terms of projecting a positive and transparent picture of this nation. Apart from these facts, Nolan (2013), also appear to have identified a credential point through the help of which, this nation has been projecting appreciable growth rate figures over multiple years. Throughout the book multiple qualitative and quantitative facts have been provided, which indicated the business interaction of China with other ‘high income economies’ as one of the potential growth opportunities for China. All these conventional economic descriptions as mentioned by Nolan (2013), appears quite convincing in terms of justifying the drastic growth factor of China. Irrespective of the positive ends, Nolan (2013) also appears to have done a critical analysis regarding the impact of China’s growth on its aviation and financial sector and how it will be contributing to the global development concern. This reflects the analytic capability of the author in terms of considering both the positive and negative aspects. However, it also appears that Nolan (2013), in this book has just elaborated the analytical facts with the intention of answering the questions posed in this book. This even seems appropriate till one aspect. However, if analyzed from the quantitative aspect, then one can say that this book provides a much wider dimension of information attainment rather than just remained focused on the views as provided by Nolan (2013). Taking reference of Nolan (2013), expertise in the areas of globalization and economic analysis, one can say that this book also provides a comprehensive knowledge regarding various neglected aspects within China. Cheap labor availability and deterioration of the profitability of Chinese aviation industry as a result of the new five year plan as mentioned in the book can be categorized within such neglected aspects. In addition, the book also appears to have pointed out the Chinese financial system as one of the weakest links that failed to contribute much towards its economic development process. Moreover, Nolan (2013) appeared to have created a linkage between the neglected aspects and unethical practices that a developing nation needs to accomplish before attaining a global reputation. Although, these factors appears justified if seen from the strategic point of view but it might raise associated risks and issues. The book also shreds considerable amount of light on the roles played by the large scale Chinese organizations in terms of developing their ties with other multinational giants despite of being in a capitalist economy. Opinion of Critical Reflection and Content Provided In the Book Despite of the fact that the book majorly focuses on a comparative case study of China with the intention of answering the raised question, still the data and the knowledge provision of this book covers far greater dimensions. In terms of personal opinion, one can say that this book has the capability of attracting multiple readers, who projects an interest on knowing more about economic competition. This factor can be accounted as one of the plus points associated with this book rather than just remaining confined to the topic. In addition, the facts mentioned within this book are evident enough towards reflecting the types of unethical practices that gets conducted by a nation having the urge and capability of attaining the position of a global giant. Although, the thought of ‘China buying the world’ appears quite unrealistic in the real life scenario but still the economic aspects associated with this nation can be considered as highly vital towards enriching the economic and political knowledge of the Chinese inhabitants (Nolan,2013). In addition, book considerably emphasizes the types and level of competition that China might pose on the global market leaders depending on its availability and utilization pattern of resources. Although being highly informative in these sections, the book lacks considerable amount of data related to the possible social and environmental issues that might arise as a result of China current rate of industrial activity and thus turning out as a questionable fact. Likewise, to the above aspect, the books also lack description regarding the efforts being made by China in context to propagating their messages and projecting themselves as globally efficient. Countless questions regarding the impact of the bureaucratic Chinese governmental structure on effective market regulation and how it will be benefiting China in the competitive scenario can be made (Nolan, 2013). Taking references of these mentioned facts an opinion can be made on this provided book. The option should be regarding the addition of multiple other comparative facts that will project a difference between the unethical business processes as conducted in China and other global giants. Moreover, taking reference of the present issues a question can also be raised regarding how China plans of continuing with its developing pace in case its reserve for natural resources gets depleted. This question will effectively pull out facts regarding China’s initiative towards development of alternative power generation techniques (XIA, n.d.). . Assessment of the Suggestions made by the Author In terms of evaluating the author’s suggestive facts, it can be stated that author appears to have made multiple calculated projections based upon the political and economic functionality pace of China. Rather, the author did not raise any sort of questions on ethical ground regarding the devastative impact on the environment and human habitat as a result of the increasing ‘intensity of industrial function’. In addition, through the discussion, the focus of the author just remained focused towards answering the topic. However, the author could have elaborated multiple other economic facts that have appropriate alignment with the provided context. In that manner, the count have made the reading procedure much more precise and interactive, thus attracting higher number of interested readers (XIA, n.d.). Critical Opinion on the Issues Being Faced and the Strategies Being Implemented Although throughout the book, the author has just remained focused towards analyzing and answering the raised question, still the mentioned data can be considered as adequate enough in terms of identifying multiple issues within the economic functionality of China. In simple words, it can be considered as a way of supporting the authors opinion on China as being the fastest growing nation irrespective of the high FDI follow within the US. Depending on these issues, effective strategies can also be formulated so as to attain an appreciable rank within then global economy (Nolan, 2013). The facts regarding such aspects have been elaborated as follows. It can be understood from the book that China has proved itself as a successful nation in the pursuit of attaining the highest economic growth figures. The continued top ranking of this nation in terms of attaining FDI inflow can be categorized as one of the prime evidences justifying the above facts. The nation has also continued to surpass one of the highest income nations (the USA) in terms of FDI inflow. Country name 2009 2010 2011 2012 2013 China 167,070,808,699 272,986,562,273 331,591,710,742 295,625,587,109 347,848,740,397 US 153,788,000,000 259,344,000,000 252,536,000,000 203,790,000,000 235,867,000,000 Source: (The World Bank Group, 2014) This fact is worth appreciating but the methods and the type of resources being used for attaining such global rank gets along the down part. The books also describes the current state of this nation as being completely reliant on the exhaustible resource that might support the cause of this nation for now, but might create multiple complications in the coming future (Nolan, 2013). Thus, in terms of strategic implementation, one can say that China will have to shift their focus towards other reliable and lasting energy sources. In addition, China also appears to have projected itself as industrially capable for providing standardized products at cheaper rates, sufficing the global requirement of the products. Justification for this aspect can be provided on the basis of cheap and easily available labor within the nation. Moreover, the competitive nature projected by China against the world’s leader (the US) also justifies its creed of positioning itself as one of the world’s leading nations. Justification to this aspect can be attained based on the GDP rates of both the nations. For instance, the GDP rate of China in the third quarter of the year 2014 has been recorded as 7.30 percent whereas the GDP rate of the US has been recorded as 4.6 per cent by the end of the second quarter (Guardian News and Media Limited, 2014). Thus, as a strategic advice, one can say that China should be focusing more towards manufacturing quality goods rather than remaining confined to mass production (Riley, 2012). The stiff growth figures associated with China’s economy might also turn out to be a major competition factor for other global giants. In this context, the strategic opinion can be provided in favor of the other global giants regarding them coming up with new alternatives so as to attain higher economic growth rate figures. Apart from these, strategic opinion related to the publicity of the book can also be provided. For instance, rather than being focused on the topic question, the author could have elaborated more details such as comparison between the economic scenarios of China with that of the other nations and its associated impact on their environmental, societal and social structure (Riley, 2012). Conclusion Taking consideration of all the above aspects, it can be stated that the books appears to be highly informative towards elaborating the other aspects of economic wellbeing and functionality rather than just remaining aligned to the topic question. Moreover, it completely depends on the understanding power of the readers as how they perceive the facts mentioned within the books regarding both the positive and negative economic aspects of China. Throughout the book major emphasis has been provided in relation to how China has made efforts towards attaining a better global stance. Decryptions regarding the enforcement of economic growth challenges by China on other global super powers have also been elaborated in a much detailed manner. Regardless of these aspects, multiple negative impacts of the growth process of China on its society and environment has also been elaborated in the book. Thus from the general perspective, one can state that the book has been structured in a highly comprehensive manner where the reflection of the author’s expertise in China economy can be witnessed. However, in contrary to all these, the book lacks effective knowledge regarding the impact of China’s economic growth rate on its social and cultural side. Associated questions have also been raised regarding these lacking points. However, the data regarding the impact on the environment as a result of prolonged use of exhaustible resources is to suffice the growing economic needs of China as mentioned in an elaborated manner. References Nolan, P., 2013. Is China Buying the World. John Wiley & Sons. Guardian News and Media Limited, 2014. China V The US: How The Superpowers Compare. Datablog [Online] Available at: http://www.theguardian.com/news/datablog/2013/jun/07/china-us-how-superpowers-compare-datablog [Accessed October 21, 2014]. Riley, C., 2012. Americans: China Is an Economic Threat. CNN Money [Online] Available at: http://money.cnn.com/2012/09/19/news/world/china-economic-threat/ [Accessed October 21, 2014]. The World Bank Group, 2014. Foreign direct investment, net inflows (BoP, current US$). View in WDI Tables [Online] Available at: http://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD [Accessed October 21, 2014]. XIA, M., No Date. "China Threat" or a "Peaceful Rise of China"? China Rises Companion | Political Governance. [Online] Available at: http://www.nytimes.com/ref/college/coll-china-politics-007.html [Accessed October 21, 2014]. Read More