The China Crisis: How China's Economic Collapse Will Lead to a Global Depression
304The China Crisis: How China's Economic Collapse Will Lead to a Global Depression
304Overview
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 book 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
Product Details
ISBN-13: | 9781118470787 |
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Publisher: | Wiley |
Publication date: | 05/08/2013 |
Sold by: | JOHN WILEY & SONS |
Format: | eBook |
Pages: | 304 |
File size: | 1 MB |
About the Author
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Table of Contents
Acknowledgments xiIntroduction 1
Chapter 1 A World on Edge 17
What Is the Proper Context in Which to Assess China Today? 18
China’s Self-Inflicted Crises 23
Great Leap Forward or Famine? 24
Cultural Revolution or Social Cannibalism? 26
How Has Economic Integration with the Global Economy Changed China? 30
Is China Becoming the Next Superpower? 31
Trading Partner to the World 32
The World’s Manufacturer 33
An Appetite for Commodities 34
Why Does China Have “Gold Fever?” 35
What Does the Rise of Other Nations, but Especially of China, Mean for the Current Financial System? 37
Marketing the China Brand 38
Chapter 2 Does China Have a Bright and Powerful Future? 40
What’s Really behind the Great Wall? 41
Notes 44
Stability and Legitimacy: A Chinese Crisis from Within 47
What Kinds of Risks and Problems Are Typical of Unstable Nations? 48
Stability and Instability: What Are They? 49
The Source of China’s “Stability” 51
What Are the Characteristics and Effects of Instability? 52
Does Stability also Mean “Legitimacy” in China? 54
Is Legitimacy of the Government Necessary for Stability? 55
Does Communist China Have a History of Stability? 56
Does China’s Beijing Model Lead to Stability and Legitimacy? 58
Notes 59
Chapter 3 The Rising Tide of Instability 61
Has China Been Influenced by Western Ideas? 64
Sources of Rising Instability in China 66
Notes 96
Chapter 4 Is China’s Economy Sustainable? 99
The Beijing Model: The Path Forward or Cannibal Capitalism? 100
What Is the Beijing Model? 104
Is the Beijing Model Self-Sustaining? 105
Notes 141
Chapter 5: China’s Quiet Crisis: Financial and Economic Meltdown 145
A Perception of Strength 146
China’s Quality of GDP 148
A Public and Private Stimulus Time Bomb 152
Development versus Economic Growth 155
How Much Was the Money Supply Expanded in China? 156
Chapter 6 Bursting Bubbles 157
How Underperforming Are the Assets and the Loans Underlying Them? 159
China’s Banks Looking for the Real Thing 161
Currency Manipulation and the Domestic Economy 164
Will the Yuan Devaluation Be Enough to Keep the Economy Going? 165
Inflation and Deflation Dangers 168
Food for Riots 169
Financial Endgame 172
Notes 174
China’s Extreme Environmental Degradation 177
Raging Environmental Crises 178
A History of Huge Mistakes 178
Hiding the Truth 183
Command Economies, Dehumanized Society, and Pollution 184
Pollution, Development, and Democracy 188
China’s Lose-Lose-Lose Proposition 190
China’s Air Pollution—Gasping For a Breath of Fresh Air 192
Bitter Water: China’s Lakes, Rivers, and Streams of Poison 194
How Bad Is the Water Pollution Situation in China? 195
Cancer Villages and Insanity 196
Why Has China’s Water Pollution Gotten So Bad? 197
Lifeless Oceans 198
A Plague Upon the Land 199
China’s Dead Zones 200
The Land of Arsenic 201
Why Is Such Pollution Tolerated? 202
CCP Land Policies Promote Abuse 203
Losing the Breadbasket 204
The Deforestation and Desertification of China 207
What Is the Real Cause of Desertification? 210
Ghosts of Famines Past 211
Notes 214
Chapter 7 Political Transition and the Breaking Point 223
Will Xi Jinping Unify the CCP? 227
Liberalization versus Stability 231
Passing the Torch: China’s New Nationalism 232
Domestic Crises for the New Leadership 237
How Will the New Chinese Leadership Navigate the Rough Waters Ahead? 240
Hell and High Water 244
Notes 244
Chapter 8 Empire Decline and Complexity Theory 247
China as an Empire 248
Hong Kong 256
Taiwan 257
China’s Uighur Problem in Xinjiang 258
The Sandals and Saffron Threat of Tibet 260
Fear and Greed in the New Leadership 262
Complexity Theory 263
Notes 270
Chapter 9 The Fall of the Red Dragon 273
China’s War with China 275
The Breakup 279
Conclusion 283
Notes 284
About the Author 285
Index 287
What People are Saying About This
“An inside look at China’s future. James R. Gorrie reveals a China that the mainstream press has failed to investigate. His conclusions, based in fact and historical reality, may change your thinking about this potential superpower, which may have overplayed its hand. A must-read in a world of global currency wars.”—Craig R. Smith, founder and Chairman of Swiss America Trading Corp., author, commentator, and monetary expert
“Anyone who isn't aware of the impact China is going to have on the world over the next few years has their head stuck in the sand. From their focused attack on the US dollar to the many bubbles they've created with their unsustainable economic policies, these will cause enormous impacts upon that country with reverberations that will be felt around the world. James R. Gorrie does a fantastic job of laying out the real story of China for all of the world to see.”—John F. Carter, Founder of TradeTheMarkets.com, frequent commentator on CNBC and Bloomberg and regular contributor to SFO magazine and MSN Money