Capitalist China

China is steadily emerging as the economic miracle of the 21st century. Its transition from a state-controlled to a capitalist economy has occurred at a remarkable pace. It is only twenty-five years ago that Deng Xiaoping initiated revolutionary economic reforms to open up China. The country’s unprecedented growth is nurturing a new wave of world-class companies that are beginning to make an impact on the world’s markets. But is China’s growth sustainable? And what are its implications for the world’s companies?
作者简介：
Jonathan Woetzel is a director in McKinsey & Company's Greater China office (Beijing, Shanghai, Hong Kong, Taipei), and leader of its corporate finance practice in China. A co-founder of McKinsey's Shanghai office, where he has been based since 1994, Dr. Woetzel has also worked in McKinsey's Hong Kong, Los Angeles, New York, and Zurich offices.
　　Dr. Jonathan R. Woetzel, a Director in McKinsey & Co.’s Shanghai office, provides a fact-based perspective of China’s economic revolution. While risks remain, China’s transformation from planned to market economy is beyond the point of no return. Competitive advantage has replaced government relationships as China’s business currency. Applying an industry-by-industry perspective, Dr. Woetzel pinpoints the important trends and opportunities affecting the key industrial and service sectors, and determines the key success factor in each.
　　Leaders of successful local and global companies such as Legend Computer, BP, LVMH, Orient Overseas, BHPB, Corning and Portman Holdings add their personal experience and perspectives on what it takes to win in China. They share their unique insights into the strategic factors that have driven then to invest, and describe the organizations that they have build in China.
　　With over 150 consultants in Hong Kong, Beijing, Shanghai and Taipei, McKinsey & Co. has been the leading management consulting firm in Greater China for over two decades. Drawing on that experience, this book is an indispensable guide for business executives as well as an informative introduction to the Chinese economic phenomenon.

In Capitalist China - Strategies for a Revolutionized Economy author Jonathan Woetzel, Director of McKinsey & Company's office in Greater China and General Manager of its corporate finance practice, fully discusses the risks and opportunities created by China's development into a major economic power. Based on nearly two decades of experience, Dr. Woetzel presents industry-specific analysis sector by sector, including the high-tech and service areas. Capitalist China also includes interviews with leading multinational CEOs from companies such as Legend Computer, BP, LVMH, Orient Overseas, BHPB, Corning and Portman Holdings in which they share their personal experiences and insights on doing business in China. Capitalist China is a must read for anyone doing business in China, investors entering the China's financial markets, and students studying Asian or global economics.

Book Description

In Capitalist China - Strategies for a Revolutionized Economy author Jonathan Woetzel, Director of McKinsey & Company's office in Greater China and General Manager of its corporate finance practice, fully discusses the risks and opportunities created by China's development into a major economic power. Based on nearly two decades of experience, Dr. Woetzel presents industry-specific analysis sector by sector, including the high-tech and service areas. Capitalist China also includes interviews with leading multinational CEOs from companies such as Legend Computer, BP, LVMH, Orient Overseas, BHPB, Corning and Portman Holdings in which they share their personal experiences and insights on doing business in China.
Capitalist China is a must read for anyone doing business in China, investors entering the China's financial markets, and students studying Asian or global economics.

From the Inside Flap

China is steadily emerging as the economic miracle of the 21st century. Its transition from a state-controlled to a capitalist economy has occurred at a remarkable pace. It is only twenty-five years ago that Deng Xiaoping initiated revolutionary economic reforms to open up China. The country’s unprecedented growth is nurturing a new wave of world-class companies that are beginning to make an impact on the world’s markets. But is China’s growth sustainable? And what are its implications for the world’s companies?

Dr. Jonathan R. Woetzel, a Director in McKinsey & Co.’s Shanghai office, provides a fact-based perspective of China’s economic revolution. While risks remain, China’s transformation from planned to market economy is beyond the point of no return. Competitive advantage has replaced government relationships as China’s business currency. Applying an industry-by-industry perspective, Dr. Woetzel pinpoints the important trends and opportunities affecting the key industrial and service sectors, and determines the key success factor in each.

Leaders of successful local and global companies such as Legend Computer, BP, LVMH, Orient Overseas, BHPB, Corning and Portman Holdings add their personal experience and perspectives on what it takes to win in China. They share their unique insights into the strategic factors that have driven then to invest, and describe the organizations that they have build in China.

With over 150 consultants in Hong Kong, Beijing, Shanghai and Taipei, McKinsey & Co. has been the leading management consulting firm in Greater China for over two decades. Drawing on that experience, this book is an indispensable guide for business executives as well as an informative introduction to the Chinese economic phenomenon.

Synopsis

In Capitalist China - Strategies for a Revolutionized Economy author Jonathan Woetzel, Director of McKinsey & Company's office in Greater China and General Manager of its corporate finance practice, fully discusses the risks and opportunities created by China's development into a major economic power. Based on nearly two decades of experience, Dr. Woetzel presents industry-specific analysis sector by sector, including the high-tech and service areas. Capitalist China also includes interviews with leading multinational CEOs from companies such as Legend Computer, BP, LVMH, Orient Overseas, BHPB, Corning and Portman Holdings in which they share their personal experiences and insights on doing business in China. Capitalist China is a must read for anyone doing business in China, investors entering the China's financial markets, and students studying Asian or global economics.

From the Back Cover

Joanthan Woetzel's new book on China is a magisterial contribution. It is a must read for the generalist but also a precise examination for business people who need to understand what is happening in sectors as diverse as the computer, steel, services, auto and retailing industries. Governments, academics and business people will devour his research. I have.  MIKE MOORE, Former Director-General of WTO. Former Prime Minister of New Zealand
In an era in which all global business leaders must become China-hands or lag behind their competitors, Jonathan Woetzel's new book is a major new user's guide for us all. W. JAMES MCNERNEY, Jr. CEO and Chairman of the Board, 3M

This book presents a timely and interesting look at conducting business in China as it develops into a major economic power. The various industry examples as well as the CEO intereviews make Capitalist China a rich source of ideas for navigating the changing environment.  GREG SUMME, Chairman, PerkinElmer, Inc.

Jonathan Woetzel is truly a China business expert, analyzing economic issues and business practices with full domestic knowledge. I agreed whole-heartedly with his prediction on China's steel industry consolidation, a truly insightful analysis. A must-read for those interested in investing in China; a refresher course to all doing businesses in China; a reminder to all those Chinese State Owned executives who wish to excel in the past WTO environment.  ANDREW YAO, Chairman of Van Shung Chong Holdings Ltd. Member of Shanghai Political Consultative Committee

Multinationals around the world are asking themselves, What is the real size of the China opportunity, and how do we tackle it?' Capitalist China tells us that the answers are always complex, and different for every line of business. It combines an excellent overview of the new Chinese market economy with a detailed analysis of the strategic positions of China's key industries and sectors. It should be on the required reading list for any serious observer of the Chinese business or economic scene, or indeed, any serious student of China.  HOWARD CHAO, Chair, O'Melveny & Myers LLP

Book Dimension
Height (mm) 239 　　　　　　　　　　　　　　　　　　　 Width (mm) 165

Acknowledgments
Foreword
1 Why China is Changing 　　　　　　　　　　　　　　　　　　　　　　　　　　　1
1.1 Moving to a Market Economy 　　　　　　　　　　　　　　　　　　　　　　　2
1.2 China in the WTO: What Will Really Change? 　　　　　　　　　　　　　　　14
2 The High-Tech Revolution 　　　　　　　　　　　　　　　　　　　　　　　　　29
2.1 Taking China's Consumer Electronics Companies Global 　　　　　　　　　　30
2.2 Legend: Building a Computer Giant 　　　　　　　　　　　　　　　　　　　　40
2.3 Designing Success in Semiconductors 　　　　　　　　　　　　　　　　　　　48
2.4 Corning: Riding Rapid Growth and the High-Tech Boom 　　　　　　　　　　　57
3 Trouble in the Heartland 　　　　　　　　　　　　　　　　　　　　　　　　　65
3.1 A Tune-Up for China's Auto Industry 　　　　　　　　　　　　　　　　　　　66
3.2 Remaking China's Giant Steel Industry 　　　　　　　　　　　　　　　　　　75
3.3 China's Evolving Logistics Landscape 　　　　　　　　　　　　　　　　　　82
3.4 Orient Overseas: Winning in Asian Shipping 　　　　　　　　　　　　　　　95
4 Energizing Energy 　　　　　　　　　　　　　　　　　　　　　　　　　　　　103
4.1 The Great Gas Game 　　　　　　　　　　　　　　　　　　　　　　　　　　　104
4.2 BP: Investing with Energy 　　　　　　　　　　　　　　　　　　　　　　　112
4.3 Reshaping Petrochemicals 　　　　　　　　　　　　　　　　　　　　　　　　120
4.4 BHPB: Building a Rock-Solid Business 　　　　　　　　　　　　　　　　　　128
4.5 Coalescing around Coal 　　　　　　　　　　　　　　　　　　　　　　　　　136
5 Reviving Retail 　　　　　　　　　　　　　　　　　　　　　　　　　　　　　147
5.1 Roadside Retail 　　　　　　　　　　　　　　　　　　　　　　　　　　　　148
5.2 LVMH: Defining Luxury 　　　　　　　　　　　　　　　　　　　　　　　　　155
5.3 Saving China's Department Stores 　　　　　　　　　　　　　　　　　　　　161
6 Modernizing Services 　　　　　　　　　　　　　　　　　　　　　　　　　　　175
6.1 Managing Chinese Funds 　　　　　　　　　　　　　　　　　　　　　　　　　176
More...