In his new book titled "Who Is Murdering the Chinese Economy: the Cultural Curse that Possesses Chinese People," Chinese economist Larry Hsien Ping Lang states that deep-rooted bad cultural habits are murdering the Chinese economy.

The book will be published by Orient Press in early June.

Lang believes that Chinese culture is called a "cultural curse" because on the one hand it embodies "great love," and on the other it is "impulsive, opportunistic and reflects a rigid thinking." This represents the inherent deep-rooted bad habits of Chinese culture. It is this two-sided curse that sways Chinese people’s thinking and behavior.

Lang also mentions in the book that the deep-rooted bad habits embedded in the culture of every Chinese person take three forms, namely impulsiveness, opportunism and rigid thinking. It is these deep-rooted bad habits that have led Chinese enterprises to grow bigger and stronger unrealistically by resorting to an opportunistic approach, namely through mergers and acquisitions. It is clear however that due to rigid thinking, no significant progress has been made in getting rid of these deep-rooted bad habits fueled by the cultural curse over the past hundred years.

Lang further states that "This is not the most deadly - the most fatal and sorrowful is the impulsive trait! As I often say, once their enterprises grow to a large scale, Chinese entrepreneurs will develop a morbid psychology to have their companies become one of the Global 500. To realize such a goal, they resort to an opportunistic approach. For example, TCL acquired Thomson, and Lenovo acquired IBM's global PC business, two embodiments of a pathological mind! A direct consequence is the destruction of shareholder value. Such cases do not occur occasionally, but frequently."

By People's Daily Online