The End of Cheap China

Shaun Rein; John Wiley & Sons; 207 pp., $14.71 This new book on the rise of China is useful for people doing business there and for anyone interested in understanding the forces that are changing the world economy. China is known as a manufacturer of cheap products, thanks largely to the country’s vast supply of low-cost workers. But the author maintains that China is changing. Shaun Rein, founder of the China Market Research Group, examines the country’s continuing transformation from producer to large-scale consumer, while explaining the major trends that are catalyzing changes in China. Each chapter focuses on a different aspect of China’s transformation, from fast-improving companies to confident women to the role of government. Rein takes an engaging approach to examining the extraordinary changes taking place across all levels of Chinese society. For this book, he has spoken to people in various walks of life, from Chinese billionaires and senior government officials to poor migrant workers and prostitutes. Besides hard economic data, the author also draws on personal stories and experiences from living in China since the 1990s. Rein regularly appears on Bloomberg TV, CNBC, CBS News, CNN and NPR, and is often featured in various US dailies. From/koreatimes