In this talk, McMahon will share his insights into what the world gets wrong about China, and why he thinks China’s economic miracle is over. Dinny McMahon’s book, China’s Great Wall of Debt: Shadow Banks, Massive Loans, Ghost Cities, and the End of the Chinese Miracle, is based on McMahon’s 10 years as a financial journalist in China, and goes beyond the headlines to explain the mechanics of how the Chinese economy really works. At the same time, China now faces a convergence of economic challenges that threaten to derail the miracle. But the foundations of that ascent are fragile, built on an incredibly wasteful economic model that has accumulated a massive amount of debt. China’s economic growth has been so strong for so long that it seems inevitable the country will soon become the world’s largest economy, and soon after that challenge the United States as the dominant global power.
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