Hmm. A strange article. A mix of really good points soaked in bitterness.
I spend the bulk of my time in Beijing, Taipei, and Ulaanbaatar (Mongolia). My take is slightly different.
Well, a lot is true. The property thing, definitely. The state industry takeovers is scary; you have to get a sense for what industries they don't mind foreigners in, and which they do. Media? Yeah, you don't want to own a media company in China as a non-Chinese. The same is true with energy and raw materials. Probably not true for manufacturing, education, and consumer goods. So, that's a weird and surreal and true point.
But some things seem dead-off. The Chinese seem much more community oriented than the West. On mornings I'm up early, there's always large groups of people doing Tai Chi, or moving around doing a sword-dance, or other group exercises. Likewise, there's huge groups of people singing, dancing, waltzing, in the evenings. Families go out and play together a lot. At least, that's what I see in CBD in Beijing.
The thing about the Chinese loving money and size is true. It's not as bleak as it sounds though, it's probably similar to 1950's America in that sense. You've got people who were raised lower on Maslow's Hierarchy of Needs, so they're very pro-money and pro-security. It's all pretty upfront, and everyone is in to hard work, credentialing, and earning well. My friend is married to a Chinese woman, and we were working something like 12+ hours a day for a while. Since his work/life balance was totally destroyed on the projects we were on, I apologized to her one day at their house. "Hey, sorry we're working so much..." and she replies: "You're making money?" I say, "Yeah, we're making money." She says: "Okay! No problem then, keep making money! I'm glad you two are doing it!" They named their cat "Wangtzai" (spelling?), which translates to "Bring money." Yeah, they named their cat "Bring money." But they're also happy and have a good home life together. She just respects working a lot and wants her husband to work a lot. That's where she's at mentally.
This part struck me as the most off --
> [China] does not welcome intruders—unless they happen to be militarily superior and invade from the north, as did two imperial dynasties, the Yuan (1271-1368) and the Qing (1644-1911), who became more Chinese than the Chinese themselves. Moreover, the fates of the Mongols, who became the Yuan, and Manchu, who became the Qing, provide the ultimate deterrent: “Invade us and be consumed from the inside,” rather like the movie Alien.
It's not like "Alien" -- it's more like, China was so much more artistically and culturally sophisticated that even invaders assimilated the conquered culture, and happily so. It's little known that the Mongols (Yuan) built the Forbidden City at first. It was called "Forbidden" since it was Mongolian-only, preserving some of Mongolian Steppe Culture even within China. Likewise, Mandarin is the Manchu language... the ethnic minority that conquered China and became the Qing. The Han (majority) now speaks the minority's language, since it was widely spoken in courts and high level administration under the Qing Dynasty.
But why did the Manchu become more Han-like and base out of Beijing? Because it was a pretty amazing place, and by and large it always has been.
I don't know, maybe I'll get China-fatigue at some point. I agree with his point that you'll never be really truly Chinese in China, but foreigners also get all kinds of additional respect and benefits for being foreign, along with a tacit okay to break certain customs and decorums because you don't know better. For foreigners in China who speak Chinese, it's even better -- you get delight from everyone you interact with, and lots of respect (arguably, undeservedly so)... so yeah, it's good and bad. The article comes across overly jaded, though I suppose the idea to not start a media company or buy residential housing are both good pieces of advice!