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About the author

Stewart Paterson

Stewart Paterson spent 25 years in capital markets as an equity researcher, strategist and fund manager. He has worked in London, New York, Mumbai, Tokyo, Hong Kong and Singapore in senior roles with Credit Suisse, Credit Suisse First Boston, CLSA and more recently, as a Partner and Portfolio Manager of Tiburon Partners LLP. Having started his career with Hill Samuel in London in 1991, he has covered the full spectrum of global markets equity strategy, developed market equities and emerging market equities, and has seen firsthand the economic impact of China’s integration into the global financial system. He holds an M.A. (Hons.) degree in Economics from the University of Aberdeen.


China, Trade and Power 81
Reuters: Trade war is popular, not populist
Lauren Kyger
Author Stewart Paterson wrote a guest column for Reuters Breakingviews highlighting findings from his Hinrich Foundation sponsored book “China, Trade Read more.
China, Trade and Power 82
Tri-State Livestock News: Hagstrom: Steel aluminum tariffs ‘here to stay’
Pragya Admin
The Tri-State Livestock News quoted Stewart Paterson, author of “China, Trade and Power: Why the West’s Economic Engagement Failed”, in Read more.


China, Trade and Power 83
US-Asia Institute hosts discussion on “China, Trade and Power” book
Lauren Kyger
The US-Asia Institute and Hinrich Foundation co-hosted a luncheon event promoting a new book by Stewart Paterson called “China, Trade Read more.
China, Trade and Power 84
“China, Trade and Power” book launched at CSIS
Lauren Kyger
On October 24, 2018, the Hinrich Foundation was pleased to support the launch of a new book titled “China, Trade Read more.


Russell Napier
“China’s financial revolution has not just changed the world economy forever, it has changed global politics forever. If you want to understand how that happened and the consequences should it continue, you need to read Stewart Paterson’s excellent new book.”

Russell Napier, Author of “Anatomy of The Bear: Lessons from Wall Street’s Four Great Bottoms”
Edward Chancellor
“After joining the WTO in 2001, China’s mercantilist policies led to the loss of millions of Western manufacturing jobs. Furthermore, the disinflationary impact of Chinese imports prompted the Federal Reserve’s disastrous easy money policy. Anyone wishing to understand the rise of modern populism and the origins of Trump’s trade wars should read Stewart Paterson’s tour de force China, Trade and Power.”

Edward Chancellor, Author of “Devil Take the Hindmost: A History of Financial Speculation”
Diana Choyleva
“This is an important book, with a clear and lucid message, that politicians and policymakers in the West should pay close attention to. China’s accession to the WTO was the West’s strategy of engagement aimed at economic, and eventually political, change in China. It has failed, instead breeding populism and inequality in the West. How we handle this challenge will shape our kids’ future.”

Diana Choyleva, Chief Economist, Enodo Economics
Simon Ogus
“As Paterson lucidly argues, the West signally failed both to demonstrate even a cursory understanding of Chinese history and to push back earlier at Chinese practices. However, it has compounded these misjudgments with serially misguided monetary policies which have disproportionately benefited the rich, boosted indebtedness and inequality, and hence exacerbated tensions between labour and capital. Marx must be smiling.”

Simon Ogus, CEO DSG Asia Limited, Hong Kong 
Rory Sutherland
“Normally I am wary of books which attribute a complex series of geopolitical upheavals to a single event. In this case, I find Stewart Paterson’s explanation entirely convincing.”

Rory Sutherland, Vice Chairman, Ogilvy Group UK
Matthew Partridge
“What was the most important event of the past two decades? Some might say 9/11; others the financial crisis of 2008-09. Stewart Paterson argues the real game-changer was China’s accession to the World Trade Organisation in 2001. That was sold as an attempt to bind China to the rule of law and allow US exporters to gain access to Chinese markets. If those were the goals, then the move has failed, says Paterson.”

Dr Matthew Partridge, MoneyWeek Magazine