A book entitled China, Inc. would catch my attention even if I didn't know the author as well as I do. Ted C. Fishman is an accomplished financial writer I've been fortunate to collaborate with on projects ranging from a groundbreaking story on insider trading to a piece exploring the psychology of video game marketing. His background gives him a special insight to his work; he once earned his living in the currency pits of the Chicago Mercantile Exchange -- one of the most purely capitalistic environments on the planet. Ted's book on China's rise as capitalist superpower, published this year by Scribner and from which we've drawn this month's cover story, took him into an entirely different business environment. But the result is a fascinating account of how China is transforming the global marketplace. Reporting in China did require a few adjustments. "The crispy-fried whole sparrows were a little challenging at first," he says, "but I eventually learned that you're supposed to spit out the beaks." In the U.S., Ted found that business leaders on the coasts were often less aware of China's impact than those in the manufacturing heartland. Midwesterners also had thought more about how to capitalize on China's growth to boost their businesses. Anyone who reads Ted's story in this issue will want to do the same.
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