Ian Williams Vampire State: The Rise and Fall of the Chinese Economy

About

This is the terrifying story of China’s vampire economy. It is a talk based on the book described by Nigel Inkster, former director of operations and intelligence, MI6

as a ‘hard-hitting exposé …which…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'.

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 (1992–1995) and then Asia (1995–2006). He then joined NBC News as Asia Correspondent (2006–2015), when he was based in Bangkok and Beijing. As well as reporting from China over the last 25 years, 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.

A Q&A Session will follow.