Is China Buying the World - Book Report/Review Example

Is China Buying the World? A Book Review The aim of this journalistic book review is to conduct an in-depth analysis of the book entitled “Is China Buying the World?” written by Peter Nolan in 2012. It should be noted that the book under analysis is divided into four chapters with a brief conclusion which summarizes all the claims and addresses of the author. It can be said that the book is a lens to look at the history in less vivid manner. The narratives of the book are mainly convincing and easy to understand. The book has been widely acclaimed for the quality of arguments that have been posed concerning the debate regarding Chinese economy. The publishing home of the book is Polity Press that has tagged the book under review to be one of their widely sold and acclaimed books. The author, Peter Nolan, who is a professor of Chinese Development, has brought many jigsaw puzzles together to inform the masses about the impact that Chinese economy had on its social and political status quo. Before understanding the impact that the book has on the readers and the amount of knowledge that the book successful shares, it is significant to know the subject matter that it discusses. Chinese economy has happened to be the most effective one. It is merely because that every bond, factory or other mineral resources are being bought by the Chinese economy. Nolan has connected the buying and investment patterns of China to create a strong argument concerning the secret behind the success of China. Readers can find as if they are being lectured in a classroom of the University of Cambridge as the author (professor) Nolan himself combines every possible detail regarding the success and spread of Chinese market[Nol12]. As a matter of fact, the author has tried to create a comparative stance for the readers. For instance, the author has provided a clear view of operations conducted by different economies of the world. At one point, the readers would find out the debt amounts that a Chinese economy had to pay for not being self-sufficient. In a comparative manner, Nolan discusses the manner in which the Chinese economy has arranged cheap vendors and producers. Later on, these resources were spread throughout the world. The data that has been plugged in different sections of the book to provide higher credibility has been skimmed from major databases such as United Nations organs for economic programs, etc. There are a number of past studies and event details that were cited in bulk by the author[Lanrk]. It is an evident fact that if something is presented or discussed in a comparative manner then one can find out every peculiar understanding and arguments about it. Nolan has appointed a similar approach where he has told the readers to consider Chinese being a different part of the world where each and every operation is conducted by using a unique form of process. In other words, developed countries of the world such as US and Canada might not have the same approach even if they try to do so[Sha13]. The author also addresses the presence of G7 countries that are holding major multinational ventures. On the other hand, it is the Chinese economy that has covered the same number of market by using tactic and strategies that might not be implemented by the G7 countries. The author has placed similar kinds of arguments and claims with a strong backup such as statistical information and timeline in a comparative manner. In addition, it can also be well stated that the author has not just presented the arguments to focus on the debate but also presents neutral claims as well. It is merely because the author tries the readers to understand the position of both halves of international economies i.e. G7 countries and the Chinese economy. The author has also affirmed and created a backup context that the competition that the G7 countries have given to the rest of the actors in the international economies is surely very tough. Nevertheless, it is merely the competing power of these countries that have come together.[Nol12] Herein, one can take the example of powers being in joint and making impact. If these countries would have opted for economic tactic and strategies solely then it would not have been possible for them to gain a competitive economic standing. It is because Chinese economy on its own makes a lot of capital as the sole market holder. The following quotation makes such a stance evident, “the tense climate in international relations between China and the West, and the passionate outpouring of view in the global mass media, it is important that citizens in the high-income countries are presented with a balanced view of their own business system, the of China, and the place of each of them in a overall global political economy”[Nol12]. The above-noted quote is quiet interesting as the author tries to inform the reader about the complexity of the politics that were involved in the economic discourse. However, later in the quotation, one can easily note that the author presents a claim to lower the debate[Lau13]. The book has been made more interesting with factors that are evident but are talked very less in general audiences when it comes to the economy of China and rest of the world. In the beginning, Chinese economy did not have cheap labor on its disposal like the G7 countries. It is a fact that creates a base for considering China as a proficient and successful economy of the world. Furthermore, the author has fairly marked that the author Nolan has backed up the success stories of Chinese economy with a statistical fact. The fact is that the Chinese economy has been operating to lead to success since 1980s. Therefore, it is no surprise that the country is giving competition to the G7 countries and another economic actor alone[Kla12]. An interesting claim that has been put by the author in the book is that China is even exporting its many products to the developed economies of G7. These include the technologically-advanced apparatuses for machinery products and more. Let alone, the machinery holds a lot of profits. The use of these products is not just limited to the factories, but also healthcare institutions on which most of the countries have la-id stress through capital budgeting and resource allocation. Readers would be able yo notice that the author of the research has credited the qualitative and quantitative contribution of China in the international market. There are a number of secrets that have been revealed by the author concerning the Chinese economy. Therefore, readers who are more interested to find out the ways in which Chinese economy have come to the top and become extremely competitive would find the book to be helpful and interesting. One of the secrets that have been revealed by the author in the book is the supply and demand cycle of production. It has been considered by the Chinese economy that more and more demand is noted every year from the middle class[Wes12]. It has come to an observation that the buying power of the middle class has become very strong. As a matter of fact, Chinese economy has always targeted the middle class of the society because the major sales are portioned in it as a segment. Thus, it will not be incorrect to state that the book is extremely helpful for students who want to gain their insights in the economic structures of the world. Readers can find out that in the first three chapters of the book, the author has clearly informed the readers that Chinese economy has found out competitive to be a motivation behind all their ventures. One can easily notice that in the previous decade, more and more companies have undertaken acquisitions and mergers. It has given an effective example about the fact that small companies can become larger and powerful in the matter of weeks with the help of an acquisition. It has been pin-pointed by Chinese economies. Thirdly, Nolan stresses on the point that the Chinese economy have provided products and services for almost every need and demand that has been made by the middle-class segment of the market. Nolan stated in his book on a couple of places in different chapters that more and more investment has been done in the IT sector. Therefore, Chinese economy has made sure that it focuses on it as an industry. Let alone, Chinese economy has created a lot of competition for the newcomers. In fact, the countries from the G7 might find it extremely difficult to compete with the Chinese IT industry[Nol12]. Notwithstanding, the author Nolan has also marked that there are some of the shortcomings or the loopholes that cannot be overcome by the Chinese economy. There are some of the underdog nations in the world that are replicating the economic system or model of China. There are many resources that are available to such underdogs such as cheaper labor. Therefore, it is estimated that there will be a number of developing economies of the world that would be competing Chinese economy. Therefore, it comes to understanding that the author of the book has provided a glance of both positives and negatives for Chinese economy[Nol12]. Talking about my experience of reading the book, I would highly recommend this book to be read by the masses. The book is not just limited to the information concerning students and practitioners of economics and management. The book is directed towards the general audiences i.e. anyone can make healthy usage of the book by reading its interesting claims. It is because Nolan has presented a very easy-to-understand stance to the subject matter. The tone of the author is quiet easy for which its claim may appear to be interesting in comparison with books that has been published on the same subject matter[Nol12]. Mostly, books of the same genre i.e. business and economics appear to be boring with a formal flow. The book under review rather points out the historic developments in the business and economics of the world in a very interesting and easy to understand manner. One may be thinking that the book belongs to the genre of history because of its interesting flow. Furthermore, the book tends to present a bridge between the modern commentary and past researches on the data concerning economic competition between China and G7 countries. There are a number of areas that have been left unaddressed by researchers in the past. Nolan has presented neutral claims to make sure that the debate is not just provided a one-sided view of the subject matter. In fact, the usage of different case studies has allowed the author to create a timeline to make sure that the book is reliable when it comes to citing[Nol12]. Before reading the book, I had a very limited knowledge regarding the success stories of China as an economy. It will not be incorrect to state that the book has fascinated me on different pointers. As the reader would progress during the reading process, he or she would not like to put the book down. It rather reflects the qualities of the author as a professor who must be gaining the attention of the students in the classroom without putting too much effort other than just discussing the rich success stories of Chinese economy[Sha13]. Through an in-depth analysis and discussion of the book, it clearly comes to mind that the book is a great contribution in the literature concerning economic developments and markets of the world. The book is a clear insight about the past of Chinese economy. The presence of the economic actors in the international business sphere finds it extremely difficult to compete with the Chinese economy. People are highly recommended to read the book and gain a lot of knowledge regarding timeline of developments in the international economy. Overall, the author has directed the information to the masses or general audiences. List of References Nol12: , (Nolan, 2012), Lanrk: , (Lane, New York), Sha13: , (Shambaugh, 2013), Nol12: , (Nolan, 2012, p.14), Lau13: , (Laurent, 2013), Kla12: , (Klare, 2012), Wes12: , (Westad, 2012), Read More