Ted Fishman, author, China Inc. (#334)
Bill Goodman speaks with best-selling author Ted Fishman about his book China Inc.: How the Rise of the Next Superpower Challenges America and the World.
Airs ...No upcoming broadcasts. List all airdates.
Fishman, a former floor trader and member of the Chicago Mercantile Exchange who has lived in several Asian countries, discusses China’s astonishing economic boom. The country, Fishman says, is building a massive urban industrial infrastructure, and the Chinese have become top consumers of wood, garments, furniture, textiles, cement, and much more. China’s economy is quickly becoming the largest in the world, with $2 trillion in its foreign exchange reserves.
However, Fishman says that China’s growth may be “the world’s biggest mixed blessing.” More than 80 million Chinese have not benefited from the country’s economic surge and are living in absolute poverty, giving China one of the largest wealth gaps in the world. And, while U.S. consumers benefit from China’s growth, saving hundreds of dollars a year, American companies are sending their production jobs to China. Fishman also talks about environmental concerns in China, including devastating air and water pollution, toxic rivers and landslides.
Finally, Fishman offers his suggestions to American businesses that want to operate in China and to the future U.S. president about how to develop a relationship with the new superpower.