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BOOK REVIEW: China's Crisis of Success
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China's Crisis of Success
Author: William H. Overholt, 2017

BT 201901 book 01中国成功的危机

与大多数关于中国的经济书籍不同,本书从商人或经济学家的角度概述了中国的基础设施问题,威廉•H•霍弗霍尔特的“中国的成功危机”从立法和社会的角度看待中国的基础设施,与经济影响密切相关的错误的立法和腐败的治理。他巧妙地阐明了中国如何成为超级大国,以及为什么唯一的持续增长手段依赖于对中国政府政治结构的全面重新审视。

霍弗霍尔特还解答了中国不仅为了投资者而且为国内居民提供服务的最佳途径。他澄清说,目前的结构缺乏正确的消费方向,需要减少对投资的依赖,改善制造业,以及从大规模制造转向服务业。显然涉及风险,霍弗霍尔特详细说明采取这一措施的必要步骤,并且中国政治领导人必须勇敢面对的障碍以避免经济崩溃。

Unlike the majority of economic books on China that outline the issues with China’s infrastructure from a businessman’s or an economist’s perspective, China’s Crisis of Success by William H. Overholt takes a look China’s infrastructure from a legislative and social standpoint with deep ties to the economic implications of erroneous legislation and corrupt governance. Arguably a myth buster-type of book, Overholt masterfully gives light to how China rose to Superpower status and why the only means of continued growth relies upon a total re-haul on the political structure of the Chinese government.
 

After having analyzed the economic growth of China, Overholt explains that with a growing percentage of poverty, a greater level of inequality, greater and greater corruption, and a rising environmental degradation, China is not nearing a better future. In Overholt’s analysis, China is destined, thanks to Xi Jinping’s political strategies, a Japanese-style stagnation and a major political-economical strategy.
 

Overholt also gives answers as to what is the best route for China to take for not only investors’ sake, but also for domestic inhabitants to endure. He clarifies that the current structure lacks a proper orientation to consumption, a need to become less reliant on investments, an improvement of manufacturing, and a shift from manufacturing on a wide scale to the servicing industry. Obviously involving risks, Overholt details the necessary steps to take this and how China’s political leaders must brave the obstacles to avoid an economical crash arguably of a level much greater than the great depression in post-war America.

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