Download or read book China Shakes The World(financial Times Business Book Of The Year 2006) written by James Kynge and published by Phoenix. This book was released on 2006-12 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new China, the nation that in 25 years has changed beyond all recognition is becoming an industrial powerhouse for the world. James Kynge shows not only the extraordinary rise of the Chinese economy, but what the future holds as China begins to influence the world.On the eve of the British industrial revolution some 230 years ago, China accounted for one third of the global economy. In 1979, after 30 years of Communism, its economy contributed only two per cent to global GDP. Now it is back up to five per cent, and rising. Although China is already a palpable force in the world, its re-emergence is only just starting to be felt. Over the next decade the hunger for foreign jobs, raw materials, energy and food will reshape world trade, capital flows and politics.Kynge shows China's weaknesses - its environmental polution, its crisis in social trust, its weak financial system and the faltering institutions of its governments - which are poised to have disruptive effects on the world. The fall-out from any failure in China's rush to modernity or simply from a temporary economic crash in the Chinese economy would be felt around the world.