Thursday, September 26, 2019

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




China's Great Wall of Debt: Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle, by Dinny McMahon, tells a lot of fascinating stories about China’s economic and social development since opening up in the late 1980s.

A great deal of this book reads like the author dislikes Chinese people, although I think this is just a coincidence of tone generated by the topics he is discussing.  Chinese people come across as buffoons set loose in a capitalist system they don’t understand.  They appear hapless.  But I think this is unfair to the author and to Chinese people.

China is a large and complex country.  Its government is large and complex.  Any examination of how it works will necessarily lead to confusion, both by the author and his readers.

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