Dealing with China audiobook cover - An Insider Unmasks the New Economic Superpower

Dealing with China

An Insider Unmasks the New Economic Superpower

Henry M. Paulson

★ 4.0 / 5(60 ratings)
Start ListeningDownload App
Categories:
EconomicsPolitics

If You're Curious About These Questions...

You should listen to this audiobook

Listen to Dealing with China — Free Audiobook

Loading player...

Key Takeaways from Dealing with China

Learning Tools

Reinforce what you learned from Dealing with China

Mind Map

Dealing with China
Economic Reforms+
Industrial Privatization+
Institutional Modernization+
Internal Challenges+
US-China Relations+

Quiz — Test Your Understanding

Question 1 of 8
What was a core policy of Deng Xiaoping's economic reforms that sparked China's initial economic explosion?
  • A. Completely privatizing all state-owned enterprises immediately.
  • B. Providing state-owned enterprises with more authority to sell goods on the open market with flexible pricing.
  • C. Eliminating all production quotas set by the central government.
  • D. Banning foreign companies from competing with domestic startups.
Question 2 of 8
What role did Special Economic Zones (SEZs) play in China's economic transformation?
  • A. They served as economic laboratories to experiment with western business practices.
  • B. They were strictly isolated agricultural zones meant to solve the country's food crisis.
  • C. They functioned as political hubs to train new leaders for the Communist Party.
  • D. They were designed exclusively to house laid-off workers from the oil sector.
Question 3 of 8
Why was the privatization of state-owned enterprises (SOEs), starting with the telecom sector, considered highly beneficial beyond just raising capital?
  • A. It allowed the government to completely step away from infrastructure planning.
  • B. It prevented foreign competitors from ever entering the Chinese market.
  • C. It guaranteed lifetime employment for all telecom workers.
  • D. It forced the companies to adopt global accounting standards and modern business practices.
Question 4 of 8
What was one of the greatest challenges in restructuring the China National Petroleum Company (CNPC) into a globally competitive entity?
  • A. The lack of domestic demand for oil following the Asian financial crisis.
  • B. The astronomical cost of its employees due to the tradition of lifetime employment and company-provided benefits.
  • C. The company's reliance on outdated drilling technology.
  • D. The refusal of international investors to purchase shares in a Chinese oil company.
Question 5 of 8
How did Tsinghua University reform its business education to better prepare capable managers for the global marketplace?
  • A. By heavily increasing the focus on traditional economic theory.
  • B. By sending all of its students to western universities for their final year.
  • C. By shifting toward case study-based education to encourage independent thinking.
  • D. By replacing human professors with internet-based learning modules.
Question 6 of 8
According to the text, what is a necessary step for China to avoid an economic meltdown caused by its rapidly growing debt?
  • A. Delegating more authority to SOEs and allowing them to operate commercially rather than under political control.
  • B. Reverting back to a fully centralized, communist economic model.
  • C. Cutting off all foreign investments until the national debt is paid off.
  • D. Increasing the production quotas for all state-owned banks.
Question 7 of 8
Why was the Strategic Economic Dialogue (SED) established between the US and China in 2006?
  • A. To negotiate a military alliance between the two global superpowers.
  • B. To demand that China pay reparations for environmental damage on the US West Coast.
  • C. To coordinate US cabinet members so they could communicate with China using one unified voice.
  • D. To force China to close its state-owned banks due to the bad loan crisis.
Question 8 of 8
Why does the author argue that the US should actively support and work with China, despite them being competitors?
  • A. Because the US relies entirely on China for technological innovation.
  • B. Because Chinese issues, such as environmental pollution, are global issues that directly affect the US.
  • C. Because the US government is legally bound by treaties signed during the Deng Xiaoping era.
  • D. Because China has promised to pay off the United States' national debt in return.

Dealing with China — Full Chapter Overview

Dealing with China Summary & Overview

Dealing With China reveals China’s journey to becoming the economic superpower it is today. These blinks explain the advantages and disadvantages of this rapid growth, and offer insights into how the US and China should work together to face today’s global challenges.

Who Should Listen to Dealing with China?

  • Anyone interested in the rise of China on the international stage
  • Politics buffs keen to learn more about US foreign policy

About the Author: Henry M. Paulson

Henry M. Paulson, Jr. is a former United States Secretary of the Treasury. He brings many years of experience in dealing with China, first as CEO of investment bank Goldman Sachs and later as Secretary of the Treasury during the presidency of George W. Bush. He is Chairman of the Paulson Institute, an independent think tank that promotes sustainable growth in the United States and China.

🎧
Listen in the AppOffline playback & background play
Get App