Billions of Entrepreneurs: How China and India Are Reshaping Their Futures and Yours

Citation

Tariq Anwar, S. (2009), "Billions of Entrepreneurs: How China and India Are Reshaping Their Futures and Yours", Chinese Management Studies, Vol. 3 No. 1, pp. 75-77. https://doi.org/10.1108/17506140910946151

Tarun Khanna's book Billions of Entrepreneurs: How China and India are Reshaping their Futures and Yours is a lucid and useful work that critically analyzes and discusses two emerging markets, China and India and their changing socio‐economic and political profiles in global business. The book is an amalgam of anecdotal evidence in the forms of stories, examples, and cases about what is taking place in these two fast emerging markets (The Economist, 2008b; Redburn, 2008). Both countries are also impacted by globalization forces that are bringing a unique set of structural changes in global business (Anwar, 2007). Because of the timeliness and application of this title to today's fast changing global business, the book has been reviewed by major newspapers and periodicals. The publications include Business Week (Engardio, 2008); The Economist (2008a), Financial Times (Varadarajan, 2008), Foreign Affairs, Far Eastern Economic Review, and others. Regarding the topic, Khanna comments:

Today's economic projections suggest that in less than a generation China and India will become the largest and third largest economies, respectively, in terms of purchasing power parity, and together they will account for nearly 40 percent of world trade, a position they occupied a century ago and more than their collective 15 percent today (p. 2).

The book has 14 well‐written and well‐researched chapters that capture readers' minds as well as researchers' attention. In Chapter 1 (Reimagining China and India), the author critically compares and contrasts China and India's economies regarding growth patterns, free elections, private enterprises, and their distinct economic models. In Chapter 2 (Statecraft), Khanna tells us about the countries' democracies, political systems, China's hierarchical governance, and India's pluralism. Chapter 3 (Bias and noise) is about the issues of information accessibility in China and India within the topics of market information, role of guanxi (personal relationships/networks), and historical antecedents. Khanna in Chapter 4 (Fiat and fairness) is curious about the economic progress in China and raises questions about India's restrictive practices and inward policies. The major discussion in Chapter 4 is about the countries' distinct economic systems where China is able to get things done faster than India. In Chapter 5 (Manna and miasma), the book compares financial systems and stock exchanges of Mumbai and Shanghai that evolved in their unique fashions. Also discussed are the countries' financial and governance systems that help us understand why China and India are at two opposite poles. Chapter 6 (Infosys and TCL) presents evolutionary and growth models of Infosys and TCL. These are two unique companies from India and China and have become global players. Also discussed is China National Offshore Oil Corporation's growing power and operations in global business that signifies an interesting nature of Chinese style entrepreneurship. Two other global companies (Microsoft/US and Metro/Germany) are analyzed in Chapter 7 (Microsoft and metro). The companies' evolutionary growth in India is discussed within local value chains and consumption patterns. In Chapter 8 (Diaspora and dividends), Khanna analyzes the reasons of success among overseas Chinese and Indians. Both diasporas are discussed by the author who believes that their future roles are critical for both countries.

In Chapter 9 (Village engineering and reengineering), Khanna's main topics are rural economies, development and role of government within their historical issues, and India's caste system. Chapter 10 (Barefoot doctors and medical tourists) is an interesting coverage of social and healthcare issues. These are the main barriers of economic development in China and India. Khanna's observations are marvelous regarding the problems of China and India's social and economic ills. In Chapter 11 (Old and new roads to Mandalay), the author discusses the role of Burma and its historical and geo‐strategic place in the region. Chapter 12 (Film star and gurus) is an interesting discussion of Bollywood and its soft power issues. Like Hollywood, the author believes that Bollywood's social and cultural influence at the global level is vigorous and can be seen in various global circles. In Chapter 13 (Buddha and software), Khanna foresees a major role of China and India's 2.4 billion consumers in Asia. In the last chapter (Corporate bridges), Khanna discusses some of the socio‐economic issues that could impact both countries. The author refers it to “mutualism” that may take place between China and India.

As stated earlier, the book is well researched and is well cited (pp. 313‐34). The work has been written mainly for practitioners although academics can also get many new ideas from the material. Although China and India are becoming major players in global business, Khanna may be overly optimistic in his future assessment of the countries. The countries' bi‐lateral trade is growing but their political relations are somewhat weak because of history and nationalistic feelings. There is no doubt that China and India are bound to become major players in global business by developing large middle classes, but their economic progress and productivity standards lag behind the West. The countries' geo‐political situation and development in the anterior also raises legitimate concerns.

No matter what happens, China and India are growing and will continue to be visible players in global business. Likewise, Chinese and Indian multinational corporations are also becoming major players at the global level and will continue to seek mergers and acquisitions in global markets. In short, the book is a timely collection of useful material that is embedded in Khanna's common sense talk. Khanna is a gifted author and knows how to deliver his message to academics as well as practitioners. The book is expected to carry a major weight regarding understanding China and India. Khanna's research is highly applicable to what is taking place in today's global business.

About the author

Syed Tariq Anwar is a Professor of Marketing in the College of Business at West Texas A&M University. He received his MA in Public Administration from the University of Punjab (Pakistan) and MBA and DBA degrees from US International University, San Diego. His work has appeared in Journal of International Management, Journal of Business & Industrial Marketing, Journal of World Trade, Thunderbird International Business Review, and others. In addition, he published review articles in Journal of Marketing and Journal of International Business Studies. His current research interests are in the areas of globalization and emerging market‐companies. He holds US and Pakistani citizenships. Syed Tariq Anwar can be contacted at: sanwar@mail.wtamu.edu