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. #4 China’s growth has been fueled by debt. Chinas Great Wall of Debt: Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle Show full title Written by Dinny McMahon Narrated by Jamie Jackson 4. However, I have also seen how the Chinese economy has become increasingly dysfunctional. I have always found there to be something irresistible about China, the pace of change, and the dynamism of its people. #3 I have spent 13 years living in China, first as a student and then as a financial journalist. McMahon, a former correspondent for the Wall Street Journal, is far from the first skeptic of China’s decade of debt-fueled growth. But China’s economic weakness should have us all worried. Reading Dinny McMahon’s China’s Great Wall of Debt provokes the same uneasy recognition as Demon did that the jig is up. #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. 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. #1 In 1985, China's General Secretary Hu Yaobang visited Australia. Please note: This is a companion version & not the original book.
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