China's Great Wall of Debt by Dinny McMahon

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 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. McMahon is among the most compelling of the many analysts who conclude that China's economic miracle will end painfully' The Economist His analysis is informed but accessible, animated by anecdotes and characters, some colourful, some verging on tragic. 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.

Dinny is an Australian who currently lives in Chicago, where he works at MacroPolo, a think tank focused on Chinese economic issues.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. In 2015, he left China and The Wall Street Journal to take up a fellowship at the Woodrow Wilson International Center for Scholars, a think tank in Washington DC, where he wrote China's Great Wall of Debt. Dinny McMahon spent ten years as a financial journalist in China, including six years in Beijing at The Wall Street Journal, and four years with Dow Jones Newswires in Shanghai, where he also contributed to the Far Eastern Economic Review. Dinny is an Australian who currently lives in Chicago, where he works at MacroPolo, a think tank focused on Chinese economic issues.

China's Great Wall of Debt by Dinny McMahon