Overview

Both a revelatory, insight-filled playbook for doing business in China and a probing look at why the country, despite the challenges it faces, still possesses unrivaled prospects for growth and entrepreneurial opportunity-by two leaders who, over the course of decades, have taken turns helming McKinsey's China-based management consulting. In just forty years, China has transformed from a closed economy into a global powerhouse. Riding the tailwinds of its massive labor supply, aggressive infrastructure investment, and ingrained work ethic, the nation became a haven of opportunity. However, more recently, shifting demographics, less torrid growth, and an increasingly complex geopolitical environment have caused some to wonder: Where lies the next China? The authors of this book have a bold and unequivocal answer: the next China is still China. There is no substitute for the Chinese market. China accounts for a staggering 30% of global manufacturing and 18% of global GDP, surpassing the European Union and trailing only the United States. With nearly five million STEM graduates each year (more than the total number of US degree graduates across all fields!), China is well-positioned in an era of technological automation, artificial intelligence, and data-powered innovation. However, the strategies that once propelled businesses to success in China are no longer sufficient. A new playbook is needed. The Next China Is Still China will answer a range of provocative questions, including: * Will China with its aging population fall into a Japan-style stagnation, or can it maintain its superpower trajectory? * What is exciting about the country's vaunted ""China speed,"" and how can multinationals continue leveraging it for outsized profits? * What is the key to pleasing China's ""hyper-switching"" consumers who have little brand loyalty? * Amid rising nationalism and geopolitical risk, should global firms rethink their China presence or, instead, double down? * As America's tech giants make massive investment in AI, can China's fast-adapting innovation ecosystem keep up? The Next China Is Still China upends conventional wisdom, providing fresh actionable strategies for winning in the years ahead.

Full Product Details

9781399839853

Table of Contents

Reviews

""Deeply informed and urgently needed. This book dismantles the clichés that still dominate business thinking about China and replaces them with something far more useful: an understanding of the country's complex, evolving system."" -- Dominic Barton, chairman of Rio Tinto ""Delves into the unique advantages and transformation challenges of China's business in terms of scale, speed, and innovation, providing highly valuable decision-making references for global investors and entrepreneurs."" -- Peter Ma, chairman and cofounder of Ping An Group ""Eloquently makes the case for why multinationals need to double-down on China. It's not just about leveraging awe-inspiring scale that exists nowhere else. Rather, it's about how battling in a hyper-competitive market-what the authors call 'the world's toughest gym'-makes everyone better prepared for the pivots to come."" -- Phyllis Cheung, CEO of McDonald’s China ""An insight-packed, rigorous guidebook...Readers will come away with an understanding of what remains durable, how to spot opportunity, and how to efficiently operate in situations of daunting complexity."" -- Bai Chong-En, Dean of Tsinghua University School of Economics and Management

""Impressively researched with timely conclusions. The authors puncture persistent myths about what it takes to succeed in China, providing a useful lens through which can be seen what is working now and what is likely to work in the future."" -- Oliver Bäte, CEO of Allianz ""Deeply informed and urgently needed. This book dismantles the clichés that still dominate business thinking about China."" -- Dominic Barton, Chairman of Rio Tinto ""Delves into the unique advantages and transformation challenges of China's business in terms of scale, speed, and innovation...highly valuable."" -- Peter Ma, Chairman and Cofounder of Ping An Group ""Clear-eyed and compelling, essential reading for Chinese business."" -- Yuanqing Yang, CEO of Lenovo ""An insight-packed, rigorous guidebook...Readers will come away with an understanding of what remains durable, how to spot opportunity, and how to efficiently operate in situations of daunting complexity."" -- Bai Chong-En, Dean of Tsinghua University School of Economics and Management ""Eloquently makes the case for why multinationals need to double-down on China. It's not just about leveraging awe-inspiring scale...Rather, it's about how battling in a hyper-competitive market makes everyone better prepared for the pivots to come."" -- Phyllis Cheung, CEO of McDonald’s China ""A must-read. This eye-opening journey into the intricacies of how certain Chinese firms manage to prosper offers a window onto the country's likely future."" -- Laura Cha, former Chairman of Hong Kong Exchanges and Clearing and non-executive Deputy Chairman of HSBC ""Sharply written and compelling in argument, The Next China is a navigation guide to the country that no business leader can ignore."" -- William C. Kirby, Spangler Family Professor of Business Administration at Harvard Business School and TM Chang Professor of China Studies at Harvard University

""Deeply informed and urgently needed. This book dismantles the clichés that still dominate business thinking about China and replaces them with something far more useful: an understanding of the country's complex, evolving system. I've spent decades advising global CEOs and later served as ambassador to China-and I recognize how often leaders get China wrong. The Next China illuminates how best to engage with China's endlessly fascinating business ecosystem."" -- Dominic Barton, former Global Managing Partner, McKinsey & Company; former Ambassador of Canada to China; and Chairman of Rio Tinto ""Delves into the unique advantages and transformation challenges of China's business in terms of scale, speed, and innovation, providing highly valuable decision-making references for global investors and entrepreneurs."" -- Peter Ma, Chairman and Cofounder of Ping An Group ""An insight-packed, rigorous guidebook that clarifies well China's next stage of development as its growth model shifts. Readers will come away with an understanding of what remains durable, how to spot opportunity, and how to efficiently operate in situations of daunting complexity."" -- Bai Chong-En, Dean of Tsinghua University School of Economics and Management ""Eloquently makes the case for why multinationals need to double-down on China. It's not just about leveraging awe-inspiring scale that exists nowhere else. Rather, it's about how battling in a hyper-competitive market-what the authors call 'the world's toughest gym'-makes everyone better prepared for the pivots to come."" -- Phyllis Cheung, CEO of McDonald’s China ""In this remarkable book-part memoir, part handbook for the future-Joe Ngai and Nick Leung show China's enduring promise and wonderful complexity, from system-wide plans that flow from the top to ruthless competition that flourishes below. Sharply written and compelling in argument, The Next China is a navigation guide to the country that no business leader can ignore."" -- William C. Kirby, Spangler Family Professor of Business Administration at Harvard Business School and TM Chang Professor of China Studies at Harvard University ""A must-read. Grounded in the authors' decades of experience advising the top echelon of companies, this eye-opening journey into the intricacies of how certain Chinese firms manage to prosper offers a window onto the country's likely future. Each chapter presents an astute analysis of the nation's competitive, demographic, and geopolitical challenges, but then follows with winning strategies for vaulting to the front of the pack."" -- Laura Cha, former Chairman of Hong Kong Exchanges and Clearing and non-executive Deputy Chairman of HSBC

Author Information

Joe Ngai is a McKinsey senior partner and chairman of the firm's offices in Greater China. He has led large-scale transformations for Chinese and multinational organizations and advises many of the top corporate leaders in the region. Frequently seen on media such as CNBC and Bloomberg, he has been named one of Forbes China's 100 Most Influential Chinese Leaders, and he has also appeared on Bloomberg Businessweek China's ""Person of the Year 2025"" list. He has an AB, JD, and MBA from Harvard University. Nick Leung is a McKinsey Senior Partner and member of McKinsey's global board of directors. He is also a lead-director of the McKinsey Global Institute, the firm's independent research arm, where he directs research on macroeconomics, global trade, and geopolitics. Based in Asia since 1997, Nick served for twelve years as chairman of McKinsey's offices in Greater China, where he led the region through its fastest growth period. He has both a bachelor and masters degree from the London School of Economics.

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