Summary of Dinny McMahon's China's Great Wall Of Debt - E-book - ePub

Please note: This is a companion version & not the original book. Sample Book Insights: #1 In 1985, China's General Secretary Hu Yaobang visited Australia. He visited Paraburdoo, a small mining town just inside the southern edge of the Pilbara, and spoke of the town's rich iron ore reserves. #2 The Pilbara region in Western Australia has been the site of many mining companies since 2000, as China's economy graduates to the next stage and becomes the world's biggest by 2030.
But China's economic weakness should have us all worried. #3 I have spent 13 years living in China, first as a student and then as a financial journalist. I have always found there to be something irresistible about China, the pace of change, and the dynamism of its people. However, I have also seen how the Chinese economy has become increasingly dysfunctional. #4 China's growth has been fueled by debt.
While it is difficult to determine exactly how much debt China carries, it is believed that the country has accumulated about $12 trillion in debt since 2008, which is the size of the American banking system in 2008.