In an excerpt from The One Hour China Book, investor Jeffrey Towson and McKinsey’s Jonathan Woetzel highlight here the following six megatrends that drive China today, for better or for worse –

Urbanizing a billion people
This is the largest migration in human history,with 300 m to cities already and 350 million more on the way

Huge manufacturing scale
The manufacturing base has increased more than 18-fold 30 years and is worth $2.2 trillion annually in value added

Rising Chinese consumers
An additional 200 million people will enter the middle class joining 300 million who have done so in the past 30 years

Money-and lots of it
The country has more than $15 trillion in bank deposits, growing by $2 trillion a year

The brainpower behemoth
Spending on education has doubled, and the number of graduates has increased more than 7-fold since 1998

The Chinese Internet
Although China has more users than any other country (550 million), penetration is comparatively low-but it's exploding

All of the above are happening so fast, on such an unprecedent scale, and are so inter-connected  that any pre-conceived notions of boom or bust are unlikely to tell the full story.