A controversial look at the impending Chinese economic collapse - the history behind it, its contemporary causes, and its dire implications for the global economy. All the experts agree: The 21st century belongs to China. Given America´s looming insolvency and the possibility of the collapse of the U.S. dollar, who can doubt that China is poised to take over the role of economic superpower? Written by political economist and leading financial journalist James Gorrie, this audiobook offers a highly controversial, contrarian view of contemporary China. Drawing upon a wealth of historical and up-to-the-minute data, Gorrie makes a strong case that China, itself, is on the verge of an economic crisis of epic proportions. He explains how, caught in a recurrent boom/bust cycle that has played itself out several times over the past sixty years, China is again approaching total economic and social collapse. But with one important difference this time: They may very well take the entire global economy down with them. Explores the Chinese communist party´s unfortunate history of making costly and very bloody mistakes on an enormous scale One-by-one Gorrie analyzes those critical mistakes and explains how they may lead to economic collapse in China and global depression Describes Chinese ´´cannibal capitalism,´´ and where its massive abuse of the country´s environment, people, and arable lands is leading that country and the world economy Chronicles China´s history of recurring economic crisis and explains why all the evidence suggests that history is about to repeat itself 1. Language: English. Narrator: Noah Michael Levine. Audio sample: http://samples.audible.de/bk/adbl/013675/bk_adbl_013675_sample.mp3. Digital audiobook in aax.
The China Crisis:How China´s Economic Collapse Will Lead to a Global Depression James R. Gorrie
China´s economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade disadvantages. Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations--a lost decade for China, the breaking of the Euro, and a receding of the U.S. dollar--that will have long-lasting effects. Pettis explains how China has maintained massive--but unsustainable--investment growth by artificially lowering the cost of capital. He discusses how Germany is endangering the Euro by favoring its own development at the expense of its neighbors. And he looks at how the U.S. dollar´s role as the world´s reserve currency burdens America´s economy. Although various imbalances may seem unrelated, Pettis shows that all of them--including the U.S. consumption binge, surging debt in Europe, China´s investment orgy, Japan´s long stagnation, and the commodity boom in Latin America--are closely tied together, and that it will be impossible to resolve any issue without forcing a resolution for all. Demonstrating how economic policies can carry negative repercussions the world over, The Great Rebalancing sheds urgent light on our globally linked economic future. 1. Language: English. Narrator: A.T. Chandler. Audio sample: http://samples.audible.de/bk/adbl/011685/bk_adbl_011685_sample.mp3. Digital audiobook in aax.