{"title":"Dinny Mcmahon","description":null,"products":[{"product_id":"china-s-great-wall-of-debt-book-dinny-mcmahon-9781408710364","title":"China's Great Wall of Debt","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 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.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49509708955921,"sku":"GOR009004988","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ GOOD \/ INTERNAL","offer_id":52116216316177,"sku":"GOR014491706","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1408710366.jpg?v=1751403212"},{"product_id":"china-s-great-wall-of-debt-book-dinny-mcmahon-9781408710340","title":"China's Great Wall of Debt","description":"'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.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49551265923345,"sku":"GOR010006236","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ GOOD \/ INTERNAL","offer_id":49633131790609,"sku":"GOR011860696","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ GARDNERS","offer_id":49733002133777,"sku":"NGR9781408710340","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/140871034X.jpg?v=1750794711"},{"product_id":"china-s-great-wall-of-debt-book-dinny-mcmahon-9781408710357","title":"China's Great Wall of Debt","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 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.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49599049826577,"sku":"GOR009432036","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1408710358.jpg?v=1750755823"},{"product_id":"china-s-great-wall-of-debt-book-dinny-mcmahon-9781328846013","title":"China's Great Wall of Debt","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.\u003cbr\u003e \u003cbr\u003e \u003cbr\u003e \u003cbr\u003e 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.\u003cbr\u003e \u003cbr\u003e  \u003cbr\u003e \u003cbr\u003e 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.\u003cbr\u003e \u003cbr\u003e  \u003cbr\u003e \u003cbr\u003e 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.\u003cbr\u003e \u003cbr\u003e  \u003cbr\u003e \u003cbr\u003e 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.","brand":"WoB","offers":[{"title":"US \/ GOOD \/ SBYB","offer_id":50041465241873,"sku":"CIN1328846016G","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":51489314111761,"sku":"CIN1328846016VG","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1328846016.jpg?v=1750921274"}],"url":"https:\/\/www.worldofbooks.com\/collections\/author-books-by-dinny-mcmahon.oembed","provider":"World of Books ","version":"1.0","type":"link"}