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Home > Business Strategy Viewpoints > China’s Fragile New Prosperity

Business Strategy Viewpoints

China’s Fragile New Prosperity

by Gabriel Stein and Charles Dumas

Introduction

Gabriel Stein studied Modern History at the University of Stockholm and Economics at the Stockholm School of Economics. After running his own consultancy, Stein Brothers, for ten years he joined Lombard Street Research in 1991, becoming a director in 1994. He regularly comments on developments in the leading world economies, including China. He is a keen follower of Far Eastern politics and studied Mandarin at the School of Oriental and African Studies, London.

Charles Dumas has been head of Lombard Street Research’s World Service since 1998. He has extensive experience as a business economist and financial markets professional. He was a managing director in JP Morgan’s New York M&A department from 1988 to 1992 and has worked in its capital markets group in New York and London.

In the 1980s he was Head of Research for JP Morgan in London. In the mid to late 1970s he was Director of European Economics for General Motors. Before that he worked on tax reform for the British Conservative Party and as a journalist on The Economist.

Charles originated the idea of the Eurasian savings glut (of which China's surplus now forms the largest part) in 2004, and detailed its potentially damaging global impact in two books, The Bill from the China Shop: How Asia's Savings Glut Threatens the World Economy (Profile Books, 2006, with Diana Choyleva), and China and America: A Time of Reckoning (Profile Books, 2008).

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Further reading

Books:

  • Dumas, Charles. China and America: A Time of Reckoning. London: Profile Books, 2008.
  • Dumas, Charles, and Diana Choyleva. The Bill from the China Shop: How Asia’s Savings Glut Threatens the World Economy. London: Profile Books, 2006.
  • Fenby, Jonathan. Modern China: The Fall and Rise of a Great Power, 1850 to the Present. New York: Harper Collins, 2008.
  • Pei, Minxin. China’s Trapped Transition: The Limits of Developmental Autocracy. Cambridge, MA: Harvard University Press, 2006.

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