A01=Thomas Orlik
Age Group_Uncategorized
Age Group_Uncategorized
Author_Thomas Orlik
automatic-update
Category1=Non-Fiction
Category=JP
Category=KCL
COP=United States
Delivery_Delivery within 10-20 working days
eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
eq_non-fiction
eq_society-politics
Language_English
PA=Available
Price_€20 to €50
PS=Active
softlaunch
Product details
- ISBN 9780190877408
- Weight: 499g
- Dimensions: 239 x 163mm
- Publication Date: 24 Sep 2020
- Publisher: Oxford University Press Inc
- Publication City/Country: US
- Product Form: Hardback
- Language: English
Secure
checkout
Fast Shipping
Easy returns
The Chinese economy appears destined for failure, the financial bubble forever in peril of popping, the real estate sector doomed to collapse, the factories fated for bankruptcy. A banking system more than twice the size of the U.S. and an economy still a third smaller. A looming trade war with the United States that threatens to lock its factories out of the world's biggest market. An urban landscape littered with ghost towns of empty property. An industrial sector strewn with state-owned zombie firms. A two-hundred million strong migrant workforce treated as second-class citizens in the cities where they live and work.
And yet, against the odds and against expectations, growth continues, wealth rises, global influence expands. The coming collapse of China is always coming, never arriving.
Tom Orlik, a veteran of more than a decade on the ground in Beijing and Shanghai, turns the spotlight on China's fragile fundamentals, and resources for resilience. Drawing on discussions with the Communist cadres planning China's rise, the bankers providing the financing, and the laborers sweating the construction sites, Orlik pieces together a unique perspective on China's past, present, and possible futures.
From Deng Xiaoping's reform and opening to Xi Jinping's anti-corruption crackdown, Orlik traces the policy steps and missteps that have taken China to the brink of a "Lehman moment" credit crisis. From corporate balance sheets to the stories of shadow bankers, he plumbs the depths of financial risks. From Japan in 1989, to Korea in 1997, the U.S. in 2007, and Greece in 2010, he positions China in the context of a rolling series of global crisis.
Mapping out possible scenarios, Orlik enhances our understanding of the economic and financial dynamics and what will happens if the bubble that never bursts finally does. While the magnitude of the shock that would deliver to China and the world would be tremendous, perhaps even more destabilizing is if China defies the doubters by continuing to rise.
Tom Orlik spent eleven years in China as Chief Asia Economist for Bloomberg and as a journalist for the Wall Street Journal. He is currently the Chief Economist for Bloomberg, based in Washington DC. He is the author of Understanding China's Economic Indicators.
