George Magnus’s Red
Flags documents the rise of China during its present-day Communist era,
focusing specifically on the current regime of Chinese Premier Xi Jingping and
his growing assertiveness within the Chinese bureaucracy and on the foreign
stage. China’s economic development has been remarkable in the scope of
history; Magnus devotes a fair amount of coverage in explaining how that has
taken place and discusses items that he sees as potential “red flags” in the
coming decades. These flags could trip up China and perhaps increase
instability in an already unstable world.
Red Flags tackles age, currency, debt, and trade, as well as internal and external politics in explaining how the country’s economic and potentially political growth could falter. The country’s aging population may limit economic growth as the country grows old in the coming decades, which may fuel issues with debt and with its currency. Political issues and America’s current nationalism on economics likely will impact how China manages its relationships globally and may also hinder economic growth. Magnus articulates a call to action on how the global community engages with China, where cooperation can be utilized and where China can be called to task when it steps out of line.
There is extensive thought given to the country on its rise on the world’s economic and now political stages. Magnus makes an effective argument in shaping concerns that could hamper China in the coming years, which in turn could have impacts on the rest of the world given how connected the global community is. This book’s target reader is someone interested in business, geopolitics, and international trade - and Magnus’s words will be worth considering even if his purported red flags fail to flap in any headwinds.
MY RATING - 4
