In China's shadow : the crisis of American entrepreneurship

This book begins with an eye-opening exploration of the rise of China’s economy and an assessment of its potential for further rapid growth. The implications of China’s new power are nothing short of profound, Reed Hundt contends. __In China's Shadow__ proceeds to paint a detailed landscape of the new reality confronting American businesses and citizens. For the first time in over one hundred years, Americans face critical challenges to their economy and way of life owing not only to China’s impending economic might but also to the drift of U.S. business practices and government regulations over the past decade. Aiming for a respectable defeat in the competition of nations will imperil not only the American Dream of an ever-increasing standard of living but also the American project itself, Hundt warns. Meeting the foreseeable challenges is not a matter of legislative strategy from the political left or right or prescriptive plans for businesses. The best chance for Americans to lead the world in job and wealth creation lies in an expanded and renewed culture of entrepreneurship. Hundt reviews the lessons of the 1990s, when the architectures of law, technology, and leadership produced a robust culture of entrepreneurship, and analyzes how entrepreneurship is being undermined today. He challenges Americans to do what they do best—adapt, invent, innovate, take risks—and points the way for a reinvigorated entrepreneurial society.

This book begins with an eye-opening exploration of the rise of China's economy and an assessment of its potential for further rapid growth. The implications of China's new power are nothing short of profound, Reed Hundt contends. In China's Shadow proceeds to paint a detailed landscape of the new reality confronting American businesses and citizens. For the first time in over one hundred years, Americans face critical challenges to their economy and way of life owing not only to China's impending economic might but also to the drift of U.S. business practices and government regulations over the past decade.

Aiming for a respectable defeat in the competition of nations will imperil not only the American Dream of an ever-increasing standard of living but also the American project itself, Hundt warns. Meeting the foreseeable challenges is not a matter of legislative strategy from the political left or right or prescriptive plans for businesses. The best chance for Americans to lead the world in job and wealth creation lies in an expanded and renewed culture of entrepreneurship. Hundt reviews the lessons of the 1990s, when the architectures of law, technology, and leadership produced a robust culture of entrepreneurship, and analyzes how entrepreneurship is being undermined today. He challenges Americans to do what they do best - adapt, invent, innovate, take risks - and points the way for a reinvigorated entrepreneurial society.

"China is the new global center of start-ups and is well on its way to becoming the world's largest consumption market. China's rising economic power challenges the strategies of virtually every American business and threatens the standard of living of every American citizen. Only if Americans respond wisely and promptly can the United States assure the perpetuation of the American Dream." "Reed Hundt paints a portrait of the new reality of global competition for American firms and citizens. He warns that a respectable defeat for both American businesses and workers would undermine the possibility of an ever-increasing standard of living, as well as threaten the nation's commitment to the values of freedom and equality. Meeting the unprecedented rivalry from the other side of the globe is not a matter of adopting the legislative programs of either the left or right in today's politics. Instead, in the areas of law, technology, and leadership, Americans need to renew and expand their culture of entrepreneurship. As the boom of the 1990s was sparked by new business initiatives in every aspect of the information sector, Hundt argues, so a successful American response to the challenge of China lies in extending entrepreneurial culture in the economy, from health care to energy, and in society, from leaders in positions of power to those arising from the grassroots of the Internet."--Jacket CONTENTS 5 Acknowledgments 7 Introduction 9 CHAPTER 1: Looking East Toward the Dawn 19 CHAPTER 2: The Uprooting of American Business 49 CHAPTER 3: The Up and Down of Entrepreneurial Culture in America 65 CHAPTER 4: Home Improvement 97 CHAPTER 5: America the Hopeful 125 Notes 143 Index 195