Playing Our Game

Playing Our Game
Oxford University Press, USA | August 5, 2010 | ISBN-10: 0195390652 | 280 pages | File type: PDF | 1.2 mb

Conventional wisdom holds that China's burgeoning economic power has reduced the United States to little more than a customer and borrower of Beijing. The rise of China, many feel, necessarily means the decline of the Westthe United States in particular.
Not so, writes Edward Steinfeld. If anything, China's economic emergence is good for America. In this fascinating new book, Steinfeld asserts that China's growth is fortifying American commercial supremacy, because (as the title says) China is playing our game. By seeking to realize its dream of modernization by integrating itself into the Western economic order, China is playing by our rules, reinforcing the dominance of our companies and regulatory institutions. The impact of the outside world has been largely beneficial to China's development, but also enormously disruptive. China has in many ways handed overoutsourcedthe remaking of its domestic economy and domestic institutions to foreign companies and foreign rule-making authorities. For Chinese companies now, participation in global production also means obedience to foreign rules. At the same time, even as these companies assemble products for export to the West, the most valuable components for those products come from the West. America's share of global manufacturing, by value, has actually increased since 1990.

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