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Dealing with China: An Insider Unmasks the New Economic Superpower

3.71  ·  Rating Details ·  665 Ratings  ·  76 Reviews
DEALING WITH CHINA takes the reader behind closed doors to witness the creation and evolution of China's state-controlled capitalism.

Written in the same anecdote-rich, page-turning style as Paulson's bestselling memoir, On the Brink , DEALING WITH CHINA is certain to become the classic and definitive examination of engaging an economic superpower.

Hank Paulson has dealt w
...more
Hardcover, 688 pages
Published April 14th 2015 by Twelve (first published January 28th 2014)
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Daniel
May 05, 2015 Daniel rated it liked it
The book is divided into 3 parts. A summary:

1/ Paulson was a great banker who, by using IPOs to stimulate accountability, restructuring and capital investment, helped the Chinese economy move from a centrally-planned system to a market-based one.

2/ Paulson was a great Treasury Secretary who, through small but significant agreements, helped the Chinese economy move from a centrally-planned system to a market-based one.

3/ The key for China's future success is continuing to move its economy from a
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Paul
Nov 22, 2015 Paul rated it it was ok
There is very little about China here (in fact there is more about the US), this is strictly a memoir.

"Dear Diary,
Today I saved the world economy and the environment. Again. I am best boss. I had lunch with some Chinese guys I despise (what simpletons they all are). No sacrifice too big for my country."

Wish this book had a more honest title. What surprised me most was how boring his life was. I have to assume he's holding out on the interesting bits. This would mesh with the level of honesty exh
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Russell R Miller
Apr 29, 2015 Russell R Miller rated it really liked it  ·  review of another edition
Goldman outmaneuvers its competitors and recommendations on how China can make structural changes to become even more powerful

The author is one heck of an effective salesman. Make connections, bring confidence and be unrelenting in follow through; former Secretary of the Treasury Henry Paulson demonstrates those qualities and an intellect and drive that has made his former company Goldman Sachs one of the leaders in Chinese mandates. A huge hunk of the book is about this interesting business st
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Joseph
Nov 11, 2015 Joseph rated it it was ok
Really dry, boring, and long. I was just glad to finish. Although, as others noted, the more interesting parts were near the end where Paulson actually addresses "dealing with china" at a high level with critical and strategic thinking. He dived too deeply into boring details too often.

The main reason this book falls short is almost certainly that Paulson's current endeavor, The Paulson Institute, works closely with many Chinese business partners. Thus he had to be sure to not burn any bridges a
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Breakingviews
May 01, 2015 Breakingviews rated it liked it
By John Foley

Hank Paulson’s two decades of negotiations with China have left him with a wealth of anecdotes, presumably a sizeable stack of air miles and a new book, “Dealing With China”. Paulson shows himself a master of two rules of doing business in the People’s Republic: cultivate contacts like crazy, and know when to leave the killer details unspoken.

Paulson, who courted China as Goldman Sachs chief, U.S. Treasury secretary and then as head of his eponymous “think and do tank”, paints a viv
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Tianyi Zhang
Nov 12, 2016 Tianyi Zhang rated it liked it
As a Chinese, I feel it should be renamed to "Dealing with Chinese Officials".
Robert Pinto
May 15, 2016 Robert Pinto rated it it was amazing
Recently read "Dealing With China" by Henry M. Paulson. It is a detailed account on the recent political and business history of China. It spans from 1978-2015. Very detailed. Very personal. Henry Paulson, who was the secretary of the treasury during the Bush administration, recalls his business deals he made with the Chinese government during his tenure as an investment banker and CEO of Goldman Sachs and also being secretary of the treasury for the United States. His personal accounts of creat ...more
Maria
The correct title of this book should be My Dealings with China: An Insider Unmasks the New Economic Superpower. This book is the personal experiences of Paulson as he worked as head of Goldman Sachs, then, as Treasury secretary, in opening Chinese markets and stabilizing the US market in the beginnings of the 2008 crash. Interesting stories, great context to immediate Chinese economic and political history, but not a how to manual on how to "Deal with China."

Why I started this book: Overdrive r
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John Tyson
May 25, 2016 John Tyson rated it really liked it
A solid dose of GS propaganda scatters itself throughout the first part of the book in the chapters on financial reform, but setting that aside, Paulson makes very clear his opinion on the importance of forging a coherent working relationship between the US and China that will hopefully benefit both countries economically, environmentally, and perhaps even, militarily.

He also provides some interesting anecdotes and tidbits on operating in China from a business and personal perspective that are
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Patrick
Sep 19, 2016 Patrick rated it it was amazing
Finally finished this book on my Kindle. Mr. Paulson has written this great book on his years of dealing with China on various capacities. Fascinating stories and details about Chinese politicians and businessmen. A must-read if you want to understand current China and the state of U.S.-China relations.
Maggie Wang
Oct 01, 2016 Maggie Wang rated it it was amazing
Couldn't agree more with his perspective and views about China. The way he analyses the behaviors and reasons for the actions China took is very spot-on. A very good piece to read if you want to know how Chinese people think and try to understand why they do what they do, especially Page 357.
Mark Koester
Jan 05, 2016 Mark Koester rated it really liked it
A lot good info about China and its development as well as Paulson's dealings in China. An interesting read.
Ilinca
Jun 15, 2017 Ilinca rated it really liked it
Interesting, but also a bit of a drag. It does show a glimpse of the inner workings of a very closed system - both at Goldman Sach and in China. And yet... he only mentions the negatives about those who have already lost their positions, not about those still in power; which is fine because he's still unofficially tied up in there, but still.
There are two distinct parts - one where he talks about his direct involvement, and another that's more like a general assessment of things in China. Man, i
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B.
Jan 25, 2017 B. rated it liked it
Shelves: economics
I am amazed I made it through this book. Not surprisingly Mr. Paulson's book is quite dry and reads somewhat like an accounting textbook. It is, however, peppered with interesting and historical anecdotes. This book will allow you to have a greater understanding of the modern form of "communism" that China is embracing. Mr. Paulson is a classical "boring" banker who gets excited about interest rates. He is a Christian Scientist, family man, and overall honest businessman. He enjoys bird watching ...more
Phillip
Feb 12, 2017 Phillip rated it really liked it
Shelves: politics, memoirs, china, own
3.75 / 5.0

Insiders view of awakening of China as an economic powerhouse. Very informative but limited in scope to personal experience with light supply of historical context. Very apparent that finance trumps all else in international relationships.

Well written and easy to follow logical progression.
ZHEYU XI
Jun 08, 2017 ZHEYU XI rated it liked it
first 50% is good with quite some Chinese gossips.
the 2nd half is dry in contents... and quite a pain to read..
I have to finish every book I started, so that's quite some pain to flip to the last page..
Vamsi Sridhar
Jun 22, 2016 Vamsi Sridhar rated it liked it
Shelves: economics
“It was then and it remains to a greater extent today that China is governed by men and not by laws” – one of the many no-holds-barred statement by Hank Paulson in his memoir of China. Hank Paulson had an unprecedented access to the top leadership of Communist Party of China (CPC); an access that caused an envy even among the Government Officials in China. The book divided into 3 parts – 1/3 on his experiences from putting a foot of his firm in China to his firm getting synonymous in any deal re ...more
Nagarjuna Surapaneni
China - the nation with a huge population – ruled by communist party where power is exchanged for economic growth by its people.

Government strong commitment to implement reforms to uplift its people from poverty, creating more jobs and providing more income. In process to achieve the desired growth China leveraged capital markets for foreign investments and intellectual expertise. This lead to rapid industrialization and migration of millions of people to cities - villages became towns and towns
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Jimmy
Mar 11, 2016 Jimmy rated it liked it
"Dealing with China" is not talking about the holistic approach to deal with China, rather it is only the author's (Henry Paulson) story of his experience dealing with China while serving in 3 different roles over the years. They are mainly in the domain of banking and economics ... while working in Goldman Sachs (helping China's state owned enterprises to launch IPOs outside China), then as US Treasury Secretary (bridging between US and China on economic reform matters) and finally as a consult ...more
Shan Shan
Feb 12, 2017 Shan Shan rated it it was amazing
As a Chinese, I was genuinely surprised by how much Mr. Paulson know about the history, current transformation, and future perspective of China. He did not only care about China's profitability but also its social issues and environmental issues. I was mostly impressed how great investor/businessmen are all very skilled at turning businesses into relationships and then relationships into good, profitable partnerships. Definitely, a lot to learn from this man. Now I have so much admiration for hi ...more
Ravi Warrier
What I liked about the book was that it gives the readers some insight and backgrounder on the geopolitical arena between the US and China and how things happen in the country.

However, I couldn't help but feel that this was a puff piece that was far from being honest in describing the nature or characteristics of the Chinese dignitaries and industrialists mentioned. The people Paulson named are characterized as heroes or virtuous or brilliant and intellectual, but never shrewd, corrupt or devio
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Charlie Mcdonald
Essential read for doing business in China but latter chapters too broad

I've read a lot of books on doing business with China. Most try and fail to build solid and iterative principles. Most are poorly written.
Paulson's book is the best I've read. A lot of this is due to the high profile deals he has done - he has very strong anecdotes and speaks therefore from a position of authority.
I'd say this is required reading above all others for those trying to do business in China. In a nutshell, he p
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Karel Baloun
May 06, 2015 Karel Baloun rated it really liked it
Overall excessive thanks and praise for the many people he has worked with, combined with calumny for the various people who fell out of favor or power. Feels like a man of power explaining how awesome he was, and the institutions he led are.

Specifically since he worked for investment banks, he has only good words for the global economic contributions, such as the IPOs of national banks. No apologies for contributions to the financial crisis.

The truly novel and fascinating part for me arrives ar
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Albert W Tu
Apr 28, 2015 Albert W Tu rated it liked it
As memoirs of recent Cabinet Secretaries go, this one ranks behind that of Robert Gates but ahead of TImothy Geithner's. The first part, of three, is focused on Paulson's time at Goldman Sachs and his efforts at breaking into the China market. The chess moves are fascinating and we start to see at least part of the Chinese bureacracy moving to modernize. The second part is focused on his tenure as Treasury Secretary and, for those that enjoy play by play recaps of governmental meetings, is a lot ...more
Karen
Jun 26, 2016 Karen marked it as to-read
* 20 books Mark Zuckerberg thinks everyone should read

Zuckerberg has been intensely fascinated with Chinese culture over the past several years. He's been learning to speak Mandarin Chinese and has stated that one of his long-term goals is convincing the Chinese government to let its people use Facebook.

"Dealing with China" by the former US Treasury secretary explores China's recent rise in global influence and how it affects the entire world.

"Over the last 35 years, China has experienced one of
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Muriel Fang
Jul 10, 2015 Muriel Fang rated it it was amazing
The author shares observations on how the Chinese system works. Paulson's early days at Goldman contains many interactions with Chinese political and business leaders. Paulson described circumstances around major business events such as IPO of behemoth Chinese state-owned companies -- these descriptions are of great value for people into that opaque part of history.

The book is quite updated: it includes events up to late 2014. Paulson was able to take a view more removed from the actions on lat
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Mike Bloomberg
Oct 18, 2015 Mike Bloomberg rated it really liked it
I had pretty low hopes for this book as I generally dislike reading just 1 persons point of view but I actually found it to be pretty fascinating. Paulson(still is) was as close to the center as a non-chinese person can/could be to the accelerated privatization of Chinese state owned enterprises. More than anything it gave a glimpse about how the Chinese bureaucracy works and is connected. It's pretty amazing reading the same names in todays news that Paulson was working with 10-20 years ago.

Rec
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Jiaopu Li
Jan 12, 2017 Jiaopu Li rated it really liked it
As a Chinese national, hearing the once familiar names spelled in Pinyin and events being narrated from a western point of view is quite interesting. The book's unique perspectives and the fact that it is written by a political figure telling inside stories definitely appeals to anyone who is interested in "dealing with China'. Paulson's writing, however, gets dry when he goes into too much details, especially when it comes to the financial processes(can't blame him for loving his job though). O ...more
Rachel
I’m going to keep this short, unlike Dealing With China. It’s long, its boring, it goes into great detail about interactions the author, Paulson, experiences he had while working with China and being a government official, but it doesn’t explain much at all past the dialogue shared. Some chapters (or parts of chapters & definitely not enough to make the book worth reading) were interesting, overall though I just could not care. More background was needed to explain China’s history and a more ...more
Robert Sparrenberger
Apr 02, 2016 Robert Sparrenberger rated it did not like it
Shelves: unreadable
This is unreadable and the title is all wrong. I made it through 88 pages and had to stop. It has nothing to do with "dealing" with China but rather how many names mr Paulson can drop and how he did big deals with the Chinese when he was with Goldman Sachs.

To be fair I didn't finish the book and maybe he does move on to other areas with China but it sure didn't get my attention and I found myself skimming at times because it was so boring. He did this and he did that and we made deals with Chin
...more
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Henry Merritt "Hank" Paulson, Jr. (born March 28, 1946) is an American banker who served as the 74th United States Secretary of the Treasury. He had served as the Chairman and Chief Executive Officer of Goldman Sachs, and is now chairman of the Paulson Institute, which he founded in 2011 to promote sustainable economic growth and a cleaner environment around the world, with an initial focus on the ...more
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