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Vampire State

Vampire State

The Rise and Fall of the Chinese Economy

by Ian Williams

Imprint: Birlinn

6.15 x 9.2 in

Hardcover
9781780278377
November 2024
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$29.95

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"In this hard-hitting exposé, Ian Williams demonstrates how the Chinese Communist Party’s obsession with exercising uncontested power has led to pervasive corruption and unintended consequences for China's own population and the world at large." — Nigel Inkster, former director of operations and intelligence, MI6

This is the terrifying story of China’s vampire economy.

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.

Ian Williams was foreign correspondent for Channel 4 News, based in Russia (1992–1995) and then Asia (1995–2006). He then joined NBC News as Asia Correspondent (2006–2015), when he was based in Bangkok and Beijing. As well as reporting from China over the last 25 years, he has also covered conflicts in the Balkans, the Middle East and Ukraine. He won an Emmy and BAFTA awards for his discovery and reporting on the Serb detention camps during the war in Bosnia. He is currently a doctoral student in the War Studies department at King’s College, London, focusing on cyber issues.

"In this hard-hitting exposé, Ian Williams demonstrates how the Chinese Communist Party’s obsession with exercising uncontested power has led to pervasive corruption and unintended consequences for China's own population and the world at large." ~Nigel Inkster, former director of operations and intelligence, MI6

"A penetrating and chilling account of how and why China’s rise to global economic dominance has been stopped in its tracks. Xi Jinping’s surveillance state is incapable of making the changes necessary to deal with the fact that China’s economic policies are unstable, unbalanced, uncoordinated and unsustainable. Now, as Ian Williams writes, we are faced with the problems created by China which is now post-peak rather than on the way up." ~Chris Patten, Former Governor of Hong Kong, 1992–97

‘A penetrating and chilling account of how and why China’s rise to global economic dominance has been stopped in its tracks' ~Chris Patten, Governor of Hong Kong 1992–97

Vampire State is one of the most profoundly important books on China in recent years ... It is essential reading and a wake-up call for policy-makers, business people and the public, and anyone who still thinks that 'business as usual' with China is a good idea' ~Benedict Rogers, Co-Founder and Chief Executive of Hong Kong Watch