Vampire State: The Rise and Fall of the Chinese Economy

This isthe 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 and then Asia. He then joined NBC News as Asia Correspondent. As well as reporting from China, 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.

'This is a timely and important read ... Through several deeply reported chapters, he outlines how Beijing wields its influence on business: from regulatory coercion and boardroom intimidation, through even to the mysterious disappearance of entrepreneurs'

'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' 

‘A penetrating and chilling account of how and why China’s rise to global economic dominance has been stopped in its tracks' 

'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'

'This is a real eye-opening read and a testament to what goes wrong when the Emperor will not suffer to be told bad news… even if it’s true'

'a remarkable book and certainly timely'

'Vampire State is excellent [with] insights and knowledge about China and Hong Kong and the interconnections between business and human rights'

'Williams analyses China with his eyes wide open. His refreshing book is a must read for anyone dealing with China’s economy, from public sector trade negotiators to private businesspeople and investors’