Dinny McMahon China's Great Wall of Debt (Hardback).

Title: China's Great Wall of Debt Condition: New EAN: 9781408710364 ISBN: 9781408710364 Publisher: Little, Brown Format: Hardback Release Date: 07/06/2018 Item Height: 163mm Item Length: 243mm Item Width: 26mm Item Weight: 514g Author: Dinny McMahon Language: English Subtitle: Shadow Banks, Ghost Cities, Massive Loans and the End of the Chinese Miracle ISBN-10: 1408710366 Description: 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