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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



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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