Dealing with China Book Summary - Dealing with China Book explained in key points
Listen to the Intro
00:00

Dealing with China summary

Henry M. Paulson

An Insider Unmasks the New Economic Superpower

4.1 (52 ratings)
17 mins

Brief summary

Dealing with China by Henry M. Paulson is a business book that provides insights into the economic rise of China and offers practical advice for companies, entrepreneurs, and policymakers on how to navigate the country's complex market.

Table of Contents

    Dealing with China
    Summary of 7 key ideas

    Audio & text in the Blinkist app
    Key idea 1 of 7

    China’s unrivalled economic growth is the result of sweeping reforms.

    If you’d have speculated in the late 1970s that China’s economy would grow to be one of the largest in the world, very few would have believed you. Yet today, it’s the reality. So what’s the secret behind China’s unexpected and unparalleled growth?

    It all started with the introduction of western economic ideas. After Chairman Mao Zedong’s death in 1976, Deng Xiaoping came to power and over the next two years, he developed several new economic initiatives. The purpose of these initiatives? To open China up to the global marketplace.

    The results of these initiatives were extraordinary. Within a few years, hundreds of millions of Chinese had already been lifted out of poverty. By the early 1980s, China’s GDP was increasing by 10% per year, on average.

    At the core of this explosion in economic activity was one particular policy: providing state-owned enterprises, or SOEs, with more authority. Although they were still required to meet planned quotas set by the central government, SOEs were now allowed to sell their goods and services on the open market with flexible pricing.

    Another crucial aspect of Xiaoping’s economic plan was the creation of special economic zones (SEZs). These served to kindle the dormant Chinese entrepreneurial spirit by granting foreign and Chinese companies lower tax rates, loosening import and export restrictions and providing easier access to foreign investment. Lenovo and the beverage company Hangzhou Wahaha Group were both founded in this period.

    SEZs worked as economic laboratories where China could experiment with economic practices already common in the west, such as competition for construction contracts or incentive pay for workers.

    Prior to these initiatives, bright and business-minded people could rarely put their abilities to good use in the jobs they were handed. But the reforms led to the creation of more companies, as it had become possible to start your own. Soon young entrepreneurs were popping up like mushrooms!

    Want to see all full key ideas from Dealing with China?

    Key ideas in Dealing with China

    More knowledge in less time
    Read or listen
    Read or listen
    Get the key ideas from nonfiction bestsellers in minutes, not hours.
    Find your next read
    Find your next read
    Get book lists curated by experts and personalized recommendations.
    Shortcasts
    Shortcasts New
    We’ve teamed up with podcast creators to bring you key insights from podcasts.

    What is Dealing with China about?

    Dealing With China reveals China’s journey to becoming the economic superpower it is today. These blinks explain the advantages and disadvantages of this rapid growth, and offer insights into how the US and China should work together to face today’s global challenges.

    Best quote from Dealing with China

    China Telecoms listing code number on the Hong Kong Stock Exchange was 941. These numbers, as pronounced in Chinese, mean survival in the midst of dangers.

    —Henry M. Paulson
    example alt text

    Who should read Dealing with China?

    • Anyone interested in the rise of China on the international stage
    • Politics buffs keen to learn more about US foreign policy

    About the Author

    Henry M. Paulson, Jr. is a former United States Secretary of the Treasury. He brings many years of experience in dealing with China, first as CEO of investment bank Goldman Sachs and later as Secretary of the Treasury during the presidency of George W. Bush. He is Chairman of the Paulson Institute, an independent think tank that promotes sustainable growth in the United States and China.

    Categories with Dealing with China

    Book summaries like Dealing with China

    People ❤️ Blinkist 
    Sven O.

    It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.

    Thi Viet Quynh N.

    Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.

    Jonathan A.

    Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.

    Renee D.

    Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.

    People also liked these summaries

    4.7 Stars
    Average ratings on iOS and Google Play
    29 Million
    Downloads on all platforms
    10+ years
    Experience igniting personal growth
    Powerful ideas from top nonfiction

    Try Blinkist to get the key ideas from 7,000+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.

    Start your free trial