A “gripping” exploration of the economic and business implications of China’s breakneck growth, China Shakes the World, has won the 2006 Financial Times and Goldman Sachs Business Book of the Year award.

James Kynge, the book’s author, collected the £30,000 top prize at a ceremony in New York on Thursday night. The judges praised the pace and style of the book, published by Houghton Mifflin in the US and Weidenfeld & Nicolson in the UK.