Hard landing of the economy or no hard landing. Getting the China story right is tough for Western observers, says China-watcher Tom Doctoroff, author of What Chinese Want: Culture, Communism and China’s Modern Consumer. Forbes lists his ten popular misconceptions.
Myth No. 7: The Chinese growth model is in danger
In the short-term, China’s economy is not crash landing. In the long term, the current model still has legs. Both the government and the people know real reforms are needed. Yet, reforms have barely just begun, impeded by left wing dogmatic fears of upsetting a middle class whose tax bills would have to rise to fund restructuring and wealth distribution to rural areas. But the world should not underestimate the technocratic savvy of Beijing. When reform does come for all to see, it would have come microscopically incremental, and therefore barely noticeable to outsiders.
Myth No. 8: China Inc. will kill U.S. jobs
It will be decades before Chinese corporations — even in strategic industries like renewable energy and information technologies — beat American companies on their own turf. It might not even happen at all. China is a closed society and so are its corporations. The country lacks the dynamism needed to stimulate new ideas and the collaboration required to monetize them.
Tom Doctoroff is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
- Why China will not take over corporate America – Tom Doctoroff (chinaherald.net)
- What Chinese want – Tom Doctoroff (chinaspeakersbureau.info)
- Bo Xilai’s departure: the end of a disaster – Tom Doctoroff (chinaspeakersbureau.info)
- Most sought-after speakers April 2012 (chinaspeakersbureau.info)