Paper Dragons
Emerging relatively unscathed from the banking crisis of 2008, China has been viewed as a model of both rampant success and fiscal stability. A bloated real-estate sector, roller-coaster stock market, and rapidly growing shadow-banking sector have all coalesced to create a perfec… Celý popis ↓
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Paper Dragons
Emerging relatively unscathed from the banking crisis of 2008, China has been viewed as a model of both rampant success and fiscal stability. 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 danger of taking the rest of the world's economy with it.Walden Bello traces our recent history of financial crises - from the bursting of Japan's 'bubble economy' in 1990 to Wall Street in 2008 - taking in their political and human ramifications such as rising inequality and environmental degradation. But beneath the surface lies a network of fissures that look likely to erupt into the next big financial crash.
The only way that we can stop this He not only predicts that China might be the site of the next crash, but that under neoliberalism this will simply keep happening.
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