Paper Dragons: China and the Next Crash

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Emerging relatively unscathed from the banking crisis of 2008, China has been viewed as a model of both rampant success and fiscal stability. But beneath the surface lies a network of fissures that look likely to erupt into the next big financial crash. A bloated real-estate sector, roller-coaster stock market, and rapidly growing shadow-banking sector have all coalesced to create a perfect storm: one that is in  Read more...

Author(s): Walden Bello
Publisher: Zed Books
Year: 2019

Language: English
Pages: xiv+320
Tags: China -- Economic conditions -- 2000-;China -- Economic policy -- 2000-;China -- Foreign economic relations;Financial crises -- China;Global Financial Crisis, 2008-2009;Economic history;Economic policy;Financial crises;International economic relations;China

Acknowledgements --
1. Introduction: will China be the epicentre of the next financial crisis? --
2. Crisis in Wall Street and the Keynesian response --
3. Europe: social democracy's Faustian pact with global finance --
4. Asia and finance capital: from the Japanese bubble to China's financial time bomb --
5. Reforming the global financial architecture: opportunities lost, 2008-18 --
6. How to rebottle the genie --
7. Conclusion: why financial reform is not enough --
Notes --
Glossary --
Index.