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China, Incorporated.24:42
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photoThe numbers tell the story: from 1982 through 2002 China's economy grew 9.5 percent annually. Its migrant worker population is the equivalent of the entire labor force of the U.S. and Europe combined.

The fact that China's economy is exploding is no surprise, but, in his new book, journalist Ted Fishman claims that "China's promise looks so magnificent to big U.S. corporations and the super rich that the U.S. national interest and the long-term health of our economy count little."

Hear a conversation with Fishman about the staggering rise of the world's most populous nation from peasant proletarian to global economic powerhouse.

Guests:

Ted Fishman, contributing editor to Harpers magazine and author of "China, Inc.: How the Rise of the Next Superpower Challenges America and the World.";

Jeremy Siegel, professor of finance at Wharton School of University of Pennsylvania.

This program aired on February 17, 2005.

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