Understanding the intersection of government and business in China is a priority for Chris Thomsen, portfolio manager for CGXU — Capital Group International Focus Equity ETF and CGNG — Capital Group New Geography Equity ETF. For that reason he recommends Red Roulette: An Insider's Story of Wealth, Power, Corruption, and Vengeance in Today's China, calling it “a fascinating memoir, especially if you want to understand how China works from a local businessman’s perspective.”
Author Desmond Shum offers a rare, behind-the scenes look at China’s elite, recounting his rise alongside his wife, Whitney Duan, through high-stakes real estate deals and deep political connections. But as the political landscape shifts and Xi Jinping comes into power, their fortunes crumble, culminating in Duan disappearing under mysterious circumstances. Shum’s account is riveting and provides important insights on Chinese business culture.
Thomsen regularly reads books focused on different regions of the world. “They help me think about investments in countries where sometimes things work differently than in the West,” he explains. “It’s critical to understand how companies navigate those environments and what the risks are for some of our investments.”