Our Picks This Month
- International shipping available to New Zealand!
- Free Australian Shipping for orders valued at $200 or more!
Shopping Cart: now in your cart 1 items
Search:  
Top » Catalog » Society » Politics » 9781408710357 »

China's Great Wall of Debt Shadow Banks, Ghost Cities, Massive Loans and the End of the Chinese Miracle / Dinny McMahon
[9781408710357]

$32.99
This product is currently not in stock and will be placed on backorder. It should arrive in our warehouse between 6-8 weeks.

A stunning inside look at how and why the Chinese economy is barreling towards disaster and the impact its collapse would have on the rest of the world.

'One of the clearest and most thorough statements of an argument often made about the country: that its government has relied on constant stimulus to keep growth strong, an addiction that is bound to backfire. Second, he comes closer than any previous writer to covering the Chinese economy as Michael Lewis, the hugely popular author of THE BIG SHORT, might do. His analysis is informed but accessible, animated by anecdotes and characters, some colourful, some verging on tragic . . . McMahon is among the most compelling of the many analysts who conclude that China's economic miracle will end painfully' The Economist

The world has long considered China a juggernaut of economic strength, but since the global financial crisis, the country's economy has ballooned in size, complexity, and risk. Once dominated by four state-owned banks, the nation's financial system is a tangle of shadow banking entities, informal financial institutions, and complex corporate funding arrangements that threaten growth, stability, and reform efforts. The country has accumulated so much debt so quickly that economists increasingly predict a financial crisis that could make 'Brexit' or Greece's economic ruin seem minor, and could undermine China's ascent as a superpower. Earlier this year, President Xi Jinping issued an urgent call for reform that gives the country until 2020 to transform its economy - a vaguely-defined objective that most economists agree is unrealistic. Whether or not China will be responsible for the next global recession, as some experts forecast, the fate of its economy will have far-reaching consequences for the rest of the world. Yet the inner workings of China's financial system are still very much a mystery to most outsiders. Now more than ever, as the country's slowing economy is being felt around the globe, it is essential to understand how China allowed its economy to become so mired in debt.

CHINA'S GREAT WALL OF DEBT is a penetrating examination of the country's opaque financial system and the complex factors - demographic shifts; urbanization; industrialization; a pervasive over-reliance on debt-fueled investments - that have brought the country to the brink of crisis. Anchored by stories of China's cities and its people; from factory workers and displaced farmers to government officials and entrepreneurs, the narrative will take readers inside the country's ghost cities, zombie companies, start-ups, and regulatory institutions as McMahon explains how things got so bad, why fixing the problems is so hard, and what the economic outlook means for China and for the rest of us.



$32.99
There are currently no product reviews.

Suggested Books:



Written In Stone / Fr P J Gannon


Zelensky / Andrew L Urgbn & Chris Mcleod


Unfree Speech / Joshua Wong & Jason Y Ng
This product was added to our catalog on Tuesday 18 August, 2020.
Reviews


Subscribe
Email:
Categories
Tell A Friend
 
Tell someone you know about this product.
Information