China's Megatrends

No economy has exploded as quickly as that of China. In just 30 years, China has been transformed from a backward, bureaucratic country where innovation was stifled and trade with the West was virtually nonexistent into a vibrant and booming economic powerhouse. In China’s Megatrends, economist John Naisbitt and his wife, Doris Naisbitt, explore the eight pillars on which China’s new economy is based. Among those pillars are a dedication to exploring new ideas, a government that responds to innovation, recognition that education must be a priority, and encouragement of artistic and intellectual freedom. The authors write, “The old-fashioned dictatorially run enterprise of China has become a modern twenty-first-century endeavor. Hierarchies have flattened; decision making has been delegated to all levels, increasingly drawing people into the continuing process of modernization.”