• China's Great Wall of Debt

  • Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle
  • By: Dinny McMahon
  • Narrated by: Jamie Jackson
  • Length: 8 hrs and 25 mins
  • 4.6 out of 5 stars (261 ratings)

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China's Great Wall of Debt

By: Dinny McMahon
Narrated by: Jamie Jackson
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Publisher's summary

A stunning inside look at how and why the foundations upon which China has built the world’s second largest economy have started to crumble.

Over the course of a decade spent reporting on the ground in China as a financial journalist, Dinny McMahon gradually came to the conclusion that the widely held belief in China’s inevitable economic ascent is dangerously wrong. Debt, entrenched vested interests, a frenzy of speculation, and an aging population are all pushing China toward an economic reckoning. China’s Great Wall of Debt unravels an incredibly complex and opaque economy, one whose fortunes - for better or worse - will shape the globe like never before.

©2018 Dinny McMahon (P)2018 Recorded Books

Critic reviews

"Dinny McMahon is one of the finest chroniclers of China's economic rise and this book - with its mixture of personal observation and sharp economic analysis - is a timely warning of the pitfalls that lie ahead for the world's most populous nation. A most provocative read." (Jamil Anderlini, Asia Editor for the Financial Times)

What listeners say about China's Great Wall of Debt

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Several Indispensable Books Listed Bello


I see no way China will avoied the middle income trap or cread a more equitable distribution of wealth. Resources will sloow but the Mandarins will squeece the cream (they have just been made party members) and the people will just put up with it.

This is all good news fore the West, of course. Just one more interesting third word place to visit. Just take care to ceep safe.

Some of the other books include:
The hundred year marathon
Whats wrong with China
And both of Peter Zeihans recent books on super power
And Mark Steyns America Alone

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3 people found this helpful

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Overall wonderful book

This audiobook is well researched and the performance is well done. The person reading the book can properly pronounce the mandarin words and his delivery is good. The content of the book is well researched and the author uses data that includes the most recent cases and statistics. The case he makes is overall compelling and well stated. While I do not agree with all his ideas, the basic case that China’s debt burden is too large and a threat to the economy is generally correct. Others, notably Michael Pettit have made a related argument in the past as part of a larger point but this book updates earlier work and adds excellent examples. The book is also compelling and uses examples that are entertaining to make the larger points. For anyone interested in understanding China’s economy, this book is one of several worth reading. It doesn’t explain everything but it does a good job making a case that there is too much debt. I am not as pessimistic as the author in his conclusions but he does a good job at making his case.

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3 people found this helpful

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Detailed, thoughtful, and revealing

This is an excellent, personal, critical analysis for a Western ear of what is actually going on in China's finances. Having recently read several books related to the ~2007-2008 global financial crisis, what I am really struck by is the parallel stories where Western balance sheets are misleading because of the interleaving nature of the international balance sheets of large companies, and here, that Chinese balance sheets are unreliable because of the murky nature of private ownership in China and the fluidity of public and private balance sheets. I appreciate that the author pairs his own story with research. The reading is good. I easily recommend this.

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Enlightening!

For one who has watched the Chinese economy warily from a distance this book sheds light on the long & fascinating approach China’s leaders have ahead of them.

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Interesting outlook

Interesting outlook and stories to describe China's current economic situation. Thought provoking and a good listen.

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Fantastic book!

Well researched, highly informative, and extremely interesting. Unfortunately China's excesses won't end well. The challenge is trying to time when the dam breaks. This story has been playing out for years. However recently there appears to be cracks showing up where China's excess capital landed - the Shanghai stock market, property markets in Sydney and New York City. Fascinating read!

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Great book about China’s Economy

I thoroughly enjoyed this book and would highly recommend it to anyone interested in learning more about the Chinese economy. Very detailed and well researched, with plenty of on the ground anecdotes to back up the bigger ideas. Excellent book!

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An excellent book that helps people understand how China's economy functions.

Many people I know have asked me how they can understand how China operates, and what issues it is currently facing and will face in the future. Most sources are complicated, hard to follow, and require a good understanding of geopolitics and/or business, this book is a wonderful exception. This book offers a great primer for many facets of China's economy, by grounding it with stories about various people the author interviewed personally. These stories help paint an impressively complete picture of China, while not getting bogged down in complicated details.
Regardless you are looking for a book to get into this subject, or are merely looking for stories to show differing perspectives, this book is an easy recommendation.

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This book isn’t about Debt

This book is maybe 10% about debt, shadow banks, and massive loans (mainly just one chapter goes over it). The vast majority of it is him complaining about how he doesn’t like the Chinese politicians because sometimes they need to regulate less and sometimes they need to regulate more. If you want to learn more about China’s potential Debt issues, do NOT buy this book. HUGE waste of time and money.

I learned more from one of Harry Dent’s books where he only discussed China for a single chapter. I’m sure there are books that go into more detail, but I’d recommend reading Dent’s book WAYYY before wasting your time on this

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Excellent book.

One of the best current books on China. Excellent book. Well worth the time investment.

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