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China's Great Wall of Debt : Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle
by Dinny McMahon


Overview - While the world sees China as a booming economic power, here is a most unsettling inside look at what's really happening as the Chinese economy begins to run out of steam.

After reporting on China for more than a decade and hearing constantly from a wide range of its citizens, Dinny McMahon has come to a startling conclusion: the narrative of China as an ascendant superpower is fraught with misconceptions.
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More About China's Great Wall of Debt by Dinny McMahon
 
 
 
Overview
While the world sees China as a booming economic power, here is a most unsettling inside look at what's really happening as the Chinese economy begins to run out of steam.

After reporting on China for more than a decade and hearing constantly from a wide range of its citizens, Dinny McMahon has come to a startling conclusion: the narrative of China as an ascendant superpower is fraught with misconceptions. Discovering brand-new factories that have been shut down, finding empty and relatively new abandoned cities, and looking under the cover of a shadow banking system, McMahon has methodically pieced together the alarming truth that China's perceived economic growth is a myth built on a staggering mountain of debt. And when that debt bubble bursts, the whole world will suffer.

McMahon follows the stories of a diverse set of characters to show how the Communist Party is able to keep fueling China's economic growth by appropriating long-held land from poor citizens in order to build more useless factories; how Chinese entrepreneurs are looking to relocate their businesses overseas, including one who is trying to set up his textile company in South Carolina; and how the mayors of ghost cities that sit abandoned across the Chinese landscape are attempting to lure citizens to move there. Debt, corruption, a speculative frenzy, and an aging population are pushing China toward a major financial recession. The entire global economy is at risk.

 
Details
  • ISBN-13: 9781328846013
  • ISBN-10: 1328846016
  • Publisher: Houghton Mifflin
  • Publish Date: March 2018
  • Page Count: 288
  • Dimensions: 9.1 x 6 x 1.3 inches
  • Shipping Weight: 0.95 pounds


Related Categories

Books > Political Science > World - Asian
Books > Business & Economics > Economic Conditions
Books > Political Science > Public Policy - Economic Policy

 
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