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

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

A stunning inside look at how and why the foundations upon which China has built the world's...
$84.57 AUD
$84.57 AUD
SKU: 9781328846013
Product Type: Books
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Author: Dinny McMahon
Format: Hardcover
Language: English
Subtotal: $84.57
China's Great Wall of Debt: Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle by McMahon, Dinny

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

$84.57
China's Great Wall of Debt: Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle by McMahon, Dinny

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

$84.57
Author: Dinny McMahon
Format: Hardcover
Language: English
Description
A stunning inside look at how and why the foundations upon which China has built the world's second largest economy, have started to crumble.

Over the course of a decade spent reporting on the ground in China as a financial journalist, Dinny McMahon gradually came to the conclusion that the widely held belief in China's inevitable economic ascent is dangerously wrong.

In this unprecedented deep dive, McMahon shows how, lurking behind the illusion of prosperity, China's economic growth has been built on a staggering mountain of debt. While stories of newly built but empty cities, white elephant state projects, and a byzantine shadow banking system, have all become a regular fixture in the press in recent years, McMahon goes beyond the headlines to explain how such waste has been allowed to flourish, and why one of the most powerful governments in the world has been at a loss to stop it.

Through the stories of ordinary Chinese citizens, McMahon tries to make sense of the unique--and often bizarre--mechanics of the Chinese economy, whether it be the state's addiction to appropriating land from poor farmers; or why a Chinese entrepreneur decided it was cheaper to move his yarn factory to South Carolina; or why ambitious Chinese mayors build ghost cities; or why the Chinese bureaucracy was able to stare down Beijing's attempts to break up the state's pointless monopoly over the distribution of table salt.

Debt, entrenched vested interests, a frenzy of speculation, and an aging population are all pushing China toward an economic reckoning. China's Great Wall of Debt unravels an incredibly complex and opaque economy, one whose fortunes--for better or worse--will shape the globe like never before.

Author: Dinny McMahon
Publisher: Harper Business
Published: 03/13/2018
Pages: 288
Binding Type: Hardcover
Weight: 0.95lbs
Size: 9.10h x 6.00w x 1.30d
ISBN: 9781328846013


Review Citation(s):
Publishers Weekly 01/15/2018
Kirkus Reviews 02/01/2018
Shelf Awareness 03/27/2018
Choice 09/01/2018

About the Author
DINNY MCMAHON spent more than a decade in China as a journalist covering the Chinese economy and financial systems for the Wall Street Journal and for the Dow Jones News Service. A native Australian, he is fluent in Mandarin. McMahon wrote China's Great Wall of Debt while a fellow at the Woodrow Wilson International Center for Scholars in Washington DC.



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