China's Great Wall of Debt
Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle
by:
Dinny McMahon
in:
Economics
Summary:
The book delves into the intricacies of China's economic system, highlighting the unsustainable practices such as over-reliance on debt, shadow banking, and the construction of underutilized urban projects. It critically examines the potential consequences of these practices on the future of China's economic growth and stability.
Key points:
1. Shadow Banking: McMahon notes China's shadow banking system, which offers credit with less regulation, has boosted growth but risks instability due to opacity and potential bad debt.
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