Managing the Dragon by Jack Perkowski Book Summary:
After a highly successful career on Wall Street, in the early 1990s Jack Perkowski needed a new challenge. Having decided that China would be the future, he set about investigating this little-known market and the business opportunities it offered. Before long, Jack set up ASIMCO, a manufacturing business specializing in car components, which now has an annual turnover of over $500 million. In Managing the Dragon Jack provides an insider's view of China, its many peculiarities and working practices. For example, we see how China's economy and government are highly decentralized and how the country tends to operate like a series of villages spread across a vast landscape; we discover how much influence 'the Party' has on the banks, and how economic incentives at local government level causes China to create overcapacity in virtually every industry. This may explain why the country has, almost single-handedly, placed the entire world in a cost / price squeeze. Managing the Dragon is a revealing and thought-provoking memoir offering a fresh perspective on a country at the dawn of a new age. Through its colourful narrative it also tells the story of one of the most influential and pioneering entrepreneurs of today.