To Get Rich Is Glorious

"The New Yorker reports on China"--Jacket subtitle.

" In 1978, China launched economic reforms that have resulted in one of history’s most dramatic national transformations. The reforms removed bureaucratic obstacles to economic growth and tapped China’s immense reserves of labor and entrepreneurial talent to unleash unparalleled economic growth in the country. In the four decades since, China has become the world’s second-largest economy after the United States, and a leading force in international trade and investment. As the contributors to this volume show, China also faces daunting challenges in sustaining growth, continuing its economic ransformation, addressing the adverse consequences of economic success, and dealing with mounting suspicion from the United States and other trade and investment partners. China also confronts risks stemming from the project to expand its influence across the globe through infrastructure investments and other projects under the Belt and Road Initiative. At the same time, China’s current leader, Xi Jinping, appears determined to make his own lasting mark on the country and on China’s use of its economic clout to shape the world around it. "

From village collectives in Southern China in the early 80s to the summer 1999 share rally, To Get Rich is Glorious provides a guide to twenty years of China's stock markets. The book analyses the changes that have occurred in all areas of China's securities business including legal, regulatory, share structure, issuers, investor base and market performance. Topics are placed in the context of the industry's overall development to highlight the market's current situation as China enters the new century.

" In 1978, China launched economic reforms that have resulted in one of history’s most dramatic national transformations. The reforms removed bureaucratic obstacles to economic growth and tapped China’s immense reserves of labor and entrepreneurial talent to unleash unparalleled economic growth in the country. In the four decades since, China has become the world’s second-largest economy after the United States, and a leading force in international trade and investment. As the contributors to this volume show, China also faces daunting challenges in sustaining growth, continuing its economic ransformation, addressing the adverse consequences of economic success, and dealing with mounting suspicion from the United States and other trade and investment partners. China also confronts risks stemming from the project to expand its influence across the globe through infrastructure investments and other projects under the Belt and Road Initiative. At the same time, China’s current leader, Xi Jinping, appears determined to make his own lasting mark on the country and on China’s use of its economic clout to shape the world around it. "

China is hot. The world sees a glorious future for this sleeping giant, three times larger than the United States, predicting it will blossom into the world's biggest economy by 2010. According to Chang, however, a Chinese-American lawyer and China specialist, the People's Republic is a paper dragon. Peer beneath the veneer of modernization since Mao's death, and the symptoms of decay are everywhere: Deflation grips the economy, state-owned enterprises are failing, banks are hopelessly insolvent, foreign investment continues to decline, and Communist party corruption eats away at the fabric of society. Beijing's cautious reforms have left the country stuck midway between communism and capitalism, Chang writes. With its impending World Trade Organization membership, for the first time China will be forced to open itself to foreign competition, which will shake the country to its foundations. Economic failure will be followed by government collapse. Covering subjects from party politics to the Falun Gong to the government's insupportable position on Taiwan, Chang presents a thorough and very chilling overview of China's present and not-so-distant future.

INSTANT NEW YORK TIMES BESTSELLER After a decade abroad, the National Book Award– and Pulitzer Prize–winning writer Evan Osnos returns to three places he has lived in the United States—Greenwich, CT; Clarksburg, WV; and Chicago, IL—to illuminate the origins of America’s political fury. Evan Osnos moved to Washington, D.C., in 2013 after a decade away from the United States, first reporting from the Middle East before becoming the Beijing bureau chief at the Chicago Tribune and then the China correspondent for The New Yorker. While abroad, he often found himself making a case for America, urging the citizens of Egypt, Iraq, or China to trust that even though America had made grave mistakes throughout its history, it aspired to some foundational moral commitments: the rule of law, the power of truth, the right of equal opportunity for all. But when he returned to the United States, he found each of these principles under assault. In search of an explanation for the crisis that reached an unsettling crescendo in 2020—a year of pandemic, civil unrest, and political turmoil—he focused on three places he knew firsthand: Greenwich, Connecticut; Clarksburg, West Virginia; and Chicago, Illinois. Reported over the course of six years, Wildland follows ordinary individuals as they navigate the varied landscapes of twenty-first-century America. Through their powerful, often poignant stories, Osnos traces the sources of America’s political dissolution. He finds answers in the rightward shift of the financial elite in Greenwich, in the collapse of social infrastructure and possibility in Clarksburg, and in the compounded effects of segregation and violence in Chicago. The truth about the state of the nation may be found not in the slogans of political leaders but in the intricate details of individual lives, and in the hidden connections between them. As Wildland weaves in and out of these personal stories, events in Washington occasionally intrude, like flames licking up on the horizon. A dramatic, prescient examination of seismic changes in American politics and culture, Wildland is the story of a crucible, a period bounded by two shocks to America’s psyche, two assaults on the country’s sense of itself: the attacks of September 11 in 2001 and the storming of the U.S. Capitol on January 6, 2021. Following the lives of everyday Americans in three cities and across two decades, Osnos illuminates the country in a startling light, revealing how we lost the moral confidence to see ourselves as larger than the sum of our parts.

How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.

China's wealth is well known, but seldom understood. Getting Rich Is Glorious is a detailed yet practical explanation of Chinese culture and lifestyle as they relate to business and money. Understanding China's money culture is crucial for doing business in, with, or against China.