Politics in China can be often opaque to foreigners. In some sense it is surprising the lack of literature on the Chinese Communist Party and the means in which it functions, but as illustrated in this book, much happens behind closed doors. If one wants an introduction to the party as well as the way in which it governs and integrates itself then this serves perfectly. After reading this one gets a better perspective on how the party operates, the stresses that it deals with, how it has adapted in the past and what it is dealing with today.
The Party uses both example and commentary to show by example how the Party is behind some of the major business decisions of recent history. It gives examples of how the Party directly influences some of the biggest corporates on the planet. In particular the rotation of the CEOs of the 3 biggest chinese telco operators was done behind closed doors without consultation with the public. It discusses Chalco's impact on disrupting one of the biggest potential mergers in modern business history (Rio and BHP), as such a merger would shift bargaining power of mineral prices away from consumer (china) and towards producer. Its actions need to be assessed through the lense of an entity who is both asserting and preserving its power as well as protecting its sovereign interests.
The Party also discusses the internal stresses faced by the communist party. With the phenomenal success of the chinese economy and the wealth that has been created with growth comes greater competition between the lure of the party, and the desire for commercial wealth. This stress has been a source of corruption and rent seeking. With economies directed from the bottom up with preferential state lending, the position of power of local authorities can and is used for personal benefit. The party it is argued acknowledges and accepts this. It must deal with both punishing examples to show vigilance but realizing that removing the rents that are recieved with political power would remove the incentive to join and thus would promote instability.
Overall this is a fascinating overview of how the Chinese Communist Party operates and what it has to deal with. It has had to adapt quickly, and the stresses it is dealing with will likely intensify over time. The way in which the party maintains its power is on a tightrope in which differences in opinion within the party are abundant. Nonetheless they have so far been able to form consensus and progress despite their differences. It is the ability to unify and come to consensus that has taken them this far, despite some near break points. Whether that will continue to be the case, time will tell, but as an overview on what is happening today and some of the solutions the party has crafted, this book is excellent. It is a must read to gain perspective into how the communist party operates and how it sees things.
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Top reviews from other countries
Sunil Mumbai
A must read for any outsider interested in the CP
Reviewed in India on July 21, 2020Pasquale1
VERY INTERESTING AND OFTEN SURPRISING
Reviewed in Canada on August 16, 2017
