![]() ![]() ![]() While stories of newly built but empty cities, white-elephant state projects, and a byzantine shadow-banking system have become a fixture in the press, McMahon goes beyond the headlines to explain how such waste has been allowed to flourish, and why one of the most powerful governments in the world has been at a loss to stop it. ![]() In this unprecedented deep dive, McMahon shows how, lurking behind the illusion of prosperity, China's economic growth has been built on a staggering mountain of debt. Over the course of a decade reporting on the ground in China as a financial journalist, Dinny McMahon gradually concluded that the widely held belief in China's inevitable economic ascent is dangerously wrong. "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. ![]()
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