Description
Book SynopsisThe truth about Chinaâs financial industryâand the growing bubble thatâs guaranteed to blow it apartâ
In recent years, the Chinese economy has been fueled by the implicit guarantee of major banks and local governments by the nationâs central government. The resultant bubble has led to the emergence of a large shadow banking industry that poses major risks to Chinaâs real estate market, speculative stock investments, state-owned enterprises, and more.
Itâs not a matter of if Chinaâs bubble will burst. Itâs a matter of when<
Table of Contents
Preface
Foreword by Robert Shiller
1. The Faultless Default
2. Failure is an Option (in China’s Shadow Banking Problem)
3. Homebuyers Who Cannot Lose
4. Petition Against the CSRC
5. Alternative Financial Innovations
6. Behind the Growth Engine: The Great Slowdown
7. An Abundance of Overcapacity
8. From Fortune 500 to Truly Internationally Competitive Companies
9. The Mother of All Credit: The Government that Never Defaults
10. Voodoo Statistics
11. Guaranteed to Fail? International Lessons on Implicit Guarantees
12. When the Tide Goes Out: How to Reform
Index
