WaldenBello
Paper Dragons: China and the Next Crash
Paper Dragons: China and the Next Crash
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China has been viewed as a model of success and fiscal stability, but beneath the surface lies a network of fissures that could lead to the next financial crash. Walden Bello traces our recent history of financial crises and predicts that China could be the site of the next crash, but under neoliberalism, this will keep happening. He argues that the only way to stop this cycle is through a shift to cooperative enterprise, respectful of the environment, and which fractures the legacies of imperialism and capitalism. Paper Dragons is a must-read for anyone wishing to prevent the next financial meltdown.
Format: Hardback
Length: 288 pages
Publication date: 15 August 2019
Publisher: Bloomsbury Publishing PLC
China has been viewed as a model of both rampant success and fiscal stability, emerging relatively unscathed from the banking crisis of 2008. However, beneath the surface lies a network of fissures that look likely to erupt into the next big financial crash. A bloated real-estate sector, a roller-coaster stock market, and a rapidly growing shadow-banking sector have all coalesced to create a perfect storm that is in danger of taking the rest of the world's economy with it.
Walden Bello, in his book "Paper Dragons," 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. He not only predicts that China might be the site of the next crash, but that under neoliberalism, this will simply keep happening.
The only way that we can stop this cycle, Bello argues, is through a fundamental change in the ways that we organize: a shift to cooperative enterprise, respectful of the environment, and which fractures the twin legacies of imperialism and capitalism. Insightful, erudite, and passionate, "Paper Dragons" is a must-read for anyone wishing to prevent the next financial meltdown.
Weight: 450g
Dimension: 219 x 144 x 30 (mm)
ISBN-13: 9781786995964
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