Paper Dragons: China and the Next Crash

Emerging relatively unscathed from the banking crisis of 2008, China has been viewed as a model of both rampant success and fiscal stability. But beneath the surface lies a network of fissures that look likely to erupt into the next big financial crash. 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 ou...