China’s Great Wall of Debt: Dinny McMahon, Book
China’s Great Wall of Debt: Dinny McMahon, 2018, Book
-high rate of growth for 4 decades
-emphasis on growth: stimulate economy, short-term growth, pay for it down the road
-China uses foreign nations’ access to economy as political tool
-Beijing willing to intervene, postpone crash, possible greater pain down the road
-debt: why state firms, local govt borrowed so much, how fin systems accommodated, why technocrats allow it, why it has no solution