Summary of Dinny McMahon's China's Great Wall Of Debt , livre ebook

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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.

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General officer

Economics

Business

General

International

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Publié par	Everest Media LLC
Date de parution	14 mai 2022
Nombre de lectures	0
EAN13	9798822509955
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0100€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Insights on Dinny McMahon's Chinas Great Wall Of Debt
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3 Insights from Chapter 4 Insights from Chapter 5 Insights from Chapter 6 Insights from Chapter 7 Insights from Chapter 8 Insights from Chapter 9 Insights from Chapter 10
Insights from Chapter 1

#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.

#5

China’s economy has remained upright and maintained high rates of growth, despite predictions of a crisis. This is proof of China’s exceptionalism, and its belief that America will eventually decline because of its waste and debt.

#6

China’s ascent has been beneficial for Australia, as the country has benefited from China’s rise more than any other country. However, the fear is that, in return for the privilege of enjoying the fruits of China’s ascent, there will be a steep price to pay.

#7

China’s economy is exceptional in the way that it can indefinitely postpone a reckoning, but at the cost of storing up greater pain for the future.

#8

China’s economy is extremely difficult to understand. It’s a geographically large and diverse country with more than a billion people who speak a language that is extremely difficult for outsiders to learn.
Insights from Chapter 2

#1

Huang Kun, a Canadian citizen, was arrested in 2011 for criminal defamation after he and his boss, Jon Carnes, published a report about a Chinese silver-mining company that they claimed was not producing as much silver as it was telling its North American shareholders. They were found guilty in a trial that was closed to the public, and they lost on appeal.

#2

Carnes and Huang were two men who were in the forefront of exposing Chinese companies that had sold shares in North America. They had accused eight Chinese companies of illegal behavior, and all eight were eventually delisted from the exchanges they traded on.

#3

Because of the risks involved, Carnes and Huang decided to short Chinese companies. They would post the results of their research on Chinese companies online under the pseudonym Alfred Little. However, they made it a policy not to investigate state-owned companies because of the risk of government intervention.

#4

China’s economy is transitioning from state capitalism to crony capitalism. Companies make their own business decisions, but the government still controls the economy.

#5

China’s Communist Party has declared that the market will play a decisive role in the economy, but the state will continue to dominate. This seems like a profound contradiction, but that’s not how the Chinese Communist Party sees it. It is willing to dismantle the shackles of explicit state control and replace them with markets, but it fully retains the right to intervene whenever it doesn’t like what markets are doing.

#6

The Chinese government had a policy of waiving the rules in order to buy time to clean up the financial crisis. The idea was that the pursuit would exhaust the enemy, who would eventually have to return to China.

#7

China’s economy is extremely opaque, and this is not just limited to its statistics.

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Summary of Dinny McMahon's China's Great Wall Of Debt , livre ebook

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