Many of the arguments against China are flawed, and many debates and views on China's economic threat are distorted. The blame-game on China is partly a cover-up for some economies' inability or unwillingness to change to meet the China challenge. This book seeks to analyse and dispel the myths and expose the lies behind the political rhetoric of the China economic threat to the global economy, and to identify the real risk for Asia behind the perceived China threat. The fear that China's competitive stress would trigger another Asian crisis, as China gobbles up foreign demand and capital at the expense of Asia, is flawed. There are many stress points that could trigger another Asian economic crisis, including the region's bulging fiscal deficit, excessive foreign reserve build-up, insufficient structural reforms, an erroneous US monetary policy and even the rise of terrorism. But another Asian crisis is not inevitable. China could even be an opportunity for regional growth, helping to diffuse the regional time bomb.

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