Vampire State: The Rise and Fall of the Chinese Economy

by Ian Williams

State capitalism. Socialism with Chinese characteristics. A socialist market economy. There have been numerous descriptions of the Chinese economy. However, none seems to capture the predatory, at times surreal, nature of the economy of the world's most populous nation – nor the often bruising and mind-bending experience of doing business with the Middle Kingdom.

Rules and agreements mean little. Markets are distorted, statistics fabricated, foreign industrial secrets and technology systematically stolen. Companies and entrepreneurs, at home and abroad, are bullied – often with the collusion of the victims themselves. The Party is in every boardroom and lab, with businesses thriving or dying at its will.

All this is part of realising President Xi Jinping's ambition of China becoming the world's pre-eminent economic, technological and military power.

Genres: China, Nonfiction, Economics

503 pages, Kindle Edition

Published September 5, 2024

About the author

Ian Williams is an award-winning journalist who has reported from across the world. He covered technology and business for the Sunday Times before moving to television. He was a foreign correspondent, based in Russia and then the Far East for Channel 4 News and NBC.
Ian has travelled and worked across China.
He lives in London.

Reviews

[Christy Matthews · Rating 5 out of 5]

Great inside look into China with extensive details into different facets of the CCP, including technology, patents, sports, Hong Kong, housing, and surveillance. The book has a 1984 vibe. It's an innovative topic. Highly recommend.

[Jonas Peeters · Rating 3 out of 5]

Just 50% new if you read the news and magazines like the Economist regularly. That is to say that some of the analysis doesn't go deeper than a Sunday read. That said he does paint a fuller picture than a series of magazines ever could.

[Marcel Heere · Rating 5 out of 5]

Crystal clear writing

[Alice · Rating 4 out of 5]

Excellent walk through of modern china. I recommend this reading to anyone in business or politics.