brilliantly written, colourful, witty and well signposted, so that readers know the lessons they are meant to draw from each chapter before moving on to the next one. These writers will not be the last to offer an answer to the question of what makes China tick. But they could be among the best of them. –from A Slice of the China Market in The Financial Times
Rein combines elegant writing and methodical research. Years of working in China have given him access to important players. Incisive interviews with billionaires, business executives, government officials, and migrant workers guide the pulse of the narrative…. essential reading. –USA Today
Must Read. –Consulting Magazine
China is known for manufacturing cheap products, thanks largely to the country′s vast supply of low–cost workers. But China is changing, and the glut of cheap labor that has made everyday low prices possible is drying up, as the Chinese people seek not to make iPhones, but to buy them. This evaporating labor pool will disrupt supply chains and consumption habits around the world.
Rein takes an engaging and informative approach to examining the changes taking place across all levels of Chinese society, talking to everyone from Chinese billionaires and senior government officials, to poor migrant workers, and even prostitutes. He draws on personal stories and experiences from living in China since the 1990s, as well as hard economic data. Each chapter focuses on a different aspect of China′s transformation from trailblazing Chinese companies to newly employed Chinese women to the role of China′s government and at the end breaks down key lessons for readers to take away. You′ll learn:
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How rising labor and real estate costs are forcing manufacturers of cheap Chinese products to close, relocate, or move up the value stream
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How China′s move away from exports to domestic consumption will create opportunities for foreign brands to sell products in China rather than just producing there
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How Chinese consumption will build pressure on the global commodities markets, causing both inflation and friction with other nations
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How China′s economic transformation spells the end of cheap consumption for Americans
China′s days as a low–cost production center are numbered. The End of Cheap China exposes the end of our consumerist way of life, and gives clear advice on how companies can succeed in the new world order.
From the Back Cover
Praise for The End of Cheap China
“The End of Cheap China is an indispensable guide to the rapid changes in China′s economy and society. Shaun Rein has observed firsthand the developments that shape the attitudes and behavior of his own coming generation. His firm has analyzed, as well as helped shape, the markets he describes. A practical must–read for anyone dealing with China, doing business there, or simply trying to understand what is going on.”
Ambassador Nicholas Platt, President Emeritus, Asia Society, author of China Boys: How U.S. Relations with the PRC Began and Grew, A Personal Memoir
“A core thesis behind the launching of my China fund in 2010 was that the drivers of China′s economy were changing. Shaun Rein′s new book examines these trends in detail and their important implications.”
Anthony Bolton, President, Investments, Fidelity Worldwide Investment; Head, Fidelity China Special Situations PLC
“Shaun Rein is a keen observer of contemporary China. He has an eye for the detail that unfolds a larger story. He is a student of Chinese culture and history and a practitioner of its present. He knows the markets and consumers of a maturing but still dynamic Chinese economy. As ′cheap China′ comes to an end, Rein′s insights are all the more valuable.”
William C. Kirby, Spangler Family Professor of Business Administration, Harvard Business School, T. M. Chang Professor of China Studies, Harvard University
About the Author
SHAUN REIN is the founder and Managing Director of the China Market Research Group, a leading strategic market intelligence firm that advises Fortune 500 companies, private equity firms, and hedge funds about profiting in China. Millions read his weekly CNBC column on business in China. He regularly appears on Bloomberg TV, CNBC, CBS News, CNN, and NPR, and is often featured in the Wall Street Journal, the Economist, the Financial Times, Bloomberg.com, and the New York Times.
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