The End of Cheap China: Economic and Cultural Trends That Will Disrupt the World
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An expose on how the rise of China will affect the American way of life"The End of Cheap China" is a fun, riveting, must-read book not only for people doing business in China but for anyone interested in understanding the forces that are changing the world.
Many Americans know China for manufacturing cheap products, thanks largely to the country's vast supply of low-cost workers. But China is changing, and the glut of cheap labor that has made everyday low prices possible is drying up as the Chinese people seek not to make iPhones, but to buy them. Shaun Rein, Founder of the China Market Research Group, puts China's continuing transformation from producer to large-scale consumer - a process that is farther along than most economists think - under the microscope, examining eight megatrends that are catalyzing change in China and posing threats to Americans' consumption-driven way of life.
Rein takes an engaging and informative approach to examining the extraordinary changes taking place across all levels of Chinese society, talking to everyone from Chinese billionaires and senior government officials to poor migrant workers and even prostitutes. He draws on personal stories and experiences from living in China since the 1990s as well as hard economic data. Each chapter focuses on a different aspect of China's transformation, from fast-improving Chinese companies to confident, optimistic Chinese women to the role of China's government, and at the end breaks down key lessons for readers to take away.
"The End of Cheap China" shows: How rising labor and real estate costs are forcing manufacturers of cheap Chinese products to close, relocate, or move up the value streamHow a restructuring economy moving away from exports to domestic consumption, and rising incomes will create opportunities for foreign brands to sell products in China rather than just producing thereHow Chinese consumption will build pressure on the global commodities markets, causing both inflation and friction with other nationsHow China's economic transformation spells the end of cheap consumption for Americans
China's days as a low cost production center are numbered. "The End of Cheap China" exposes the end of America's consumerist way of life and gives clear advice on how companies can succeed in the new world order.
families, or toil in jobs that do not empower them to achieve their white-collar dreams. In turn, they have started to buy the products that they used to make, making the Chinese consumer growth story one of the most exciting and important for the next decade. It is an opportunity for companies trying to offset dwindling growth in the developed world, and poses problems for policy makers who need to deal with inflationary pressures as Chinese people eat more meat, buy more cars and air
which is 107 males for every 100 females, according to the Central Intelligence Agency. Many couples still bribe doctors to disclose information about the child’s sex, especially in rural areas, but the preference for boys is even beginning to decline there as well. China’s urbanization rate rose above 50 percent for the first time in 2010, up from 30 percent just a decade earlier. As a result, strong hands for farming are no longer as prized as they once were. Additionally, the government has
be integrated between China-based and foreign offices. When the Chinese branch of a firm tries to take back market share from foreign branches, it creates too much internal competition. Consumers have also told my firm that they get upset when brands’ VIP loyalty programs are specific to a certain country rather than to the brand worldwide. Prepare Your American and European Shops for Chinese Tourists One spring day, I found myself in New York City again, walking along Fifth Avenue, interviewing
experienced firsthand how poor policies at the top affected the whole country. We sat down and started to drink lukewarm afternoon tea. Because there was no air conditioner, only a dingy, wheezing fan, our clothes clung to our backs with sweat. Between sips of tea and drags from a cigarette he gripped tightly in his bony hand, Professor Zhou began to explain his problems. “We literally have class sizes of seven thousand students,” he lamented while smoking away in his office. I thought my
nose. As I made my way home, I suddenly was stopped by a woman yelling “Hey, handsome!” at me. I paused and looked at her. Her faced was caked with makeup that seemed to bunch up on the crags lining her face. Unlike that perky young teenager who had knocked on my hotel room door in Changchun, and who easily could have been a cover model for Teen Vogue, this woman would fit better in a morticians’ magazine as an example of how not to dress. The aged woman told me what 100 bucks would get me and