The Red Dream: The Chinese Communist Party and the Financial Deterioration of China by Carl E. Walter
An eye-opening deep dive into the sources and consequences of how China has financed its rise to global economic prominence
In The Red Dream: The Chinese Communist Party and the Financial Deterioration of China, veteran finance executive Carl Walter uses his unique experience in Chinese finance to deepen his exploration of how the Chinese Communist Party finances its obsession with GDP growth and social control. Overwhelmingly debt-fueled, the partys financial strategy has driven an unsustainable growth in banking and state enterprise assets. Inevitably the partys own financial health is being severely weakened and Chinas future over the next decades put in doubt. Youll also find:
- A discussion of the financial power of local governments and the Ponzi scheme created by their sale of land use rights
- How Chinas entry into the World Trade Organization gave rise to todays China
- How the party and Chinas regulators enable banks to present outstanding performance metrics
- An exploration of the partys financial assets and liabilities since 1979
- Examples of financial crisis management and related costs incurred by China and the US
- A look at Japans experience as a potential guide for China future development
An essential read for anyone interested in international economics, geopolitics, and finance, The Read Dream will also earn a place in the hands of finance professionals, bankers, policymakers, corporate strategists, and investors.