The China Crisis How China's Economic Collapse Will Lead to a Global Depression

by Gorrie, James R.

• ISBN13: 9781118470770
• ISBN10: 111847077X
• Edition: 1st
• Format: Hardcover
• Copyright: 2013-05-28
• Publisher: Wiley

Summary

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 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

Author Biography

JAMES R. GORRIE writes on macroeconomic topics, investment strategies, and geopolitical events around the world. He has interviewed experts such as renowned economist James K. Galbraith, currency expert Craig R. Smith, and real estate master George Ross of the Trump Organization. His articles have appeared or been referenced on sites such as MSN Money, Seeking Alpha, and Yahoo! Business News. He has served as Editorial Director and Managing Editor for digital publishing firms and is also an award-winning screenwriter, filmmaker (The Indian), and novelist. James also ghostwrites for both famous and semi-famous personalities in America and abroad. Before writing professionally, James spent over eighteen years in the financial industry. He attended the University of California at Santa Barbara where he reached doctoral candidacy in international relations and comparative politics, with an area specialty in international political economy; he also holds a bachelor's degree in economics. James lives in Austin, Texas, with his family and is busy writing for clients, his next novel, a couple of screenplays and another book.

Table of Contents

Acknowledgments

Introduction

Chapter 1: A World on Edge

What is the Proper Context in Which to Assess China Today?

China’s Self-inflicted Crises

Great Leap Forward or Famine?

Cultural Revolution or Social Cannibalism?

How Has  Economic Integration With the Global Economy Changed China?

Is China Becoming the Next Superpower?

Trading Partner to the World

The World’s Manufacturer

An Appetite for Commodities

Why Does China Have “Gold Fever?”

What Does the Rise of Other Nations, But Especially China, Mean For The Current Financial System?

Marketing the China Brand

Does China Have a Bright and Powerful Future?

What’s Really Behind the Great Wall?

Notes

Chapter 2: Stability and Legitimacy: A Chinese Crisis from Within

What Kinds of Risks and Problems are Typical of Unstable Nations?

Stability and Instability: What are they?

The Source of China’s “Stability”

What are the Characteristics and Effects of Instability?

Does Stability also Mean “Legitimacy” in China?

Is Legitimacy of the Government Necessary for Stability?

Does Communist China Have a History of Stability?

Does China’s Beijing Model Lead to Stability and Legitimacy?

Notes

Chapter 3: The Rising Tide of Instability

Has China been influenced by Western Ideas?

Sources of Rising Instability in China

Notes

Chapter 4: Is China’s Economy Sustainable?

The Beijing Model: The Path Forward or Cannibal Capitalism?

But What Is the Beijing Model?

Is the Beijing Model Self-sustaining?

Notes

Chapter 5: China’s Quiet Crisis: Financial and Economic Meltdown

A Perception of Strength

China’s Quality of GDP

A Public and Private Stimulus Time Bomb

Development versus Economic Growth

How Much Was the Money Supply Expanded In China?

Bursting Bubbles

How Underperforming Are the Assets and the Loans Underlying Them?

China’s Banks Looking For the Real Thing

Currency Manipulation and The Domestic Economy

Will The Yuan Devaluation Be Enough to Keep the Economy Going?

Inflation and Deflation Dangers

Feeding for Riots

Financial Endgame

Notes

Chapter 6: China’s Extreme Environmental Degradation

Raging Environmental Crises

A History of Huge Mistakes

Hiding the Truth

Command Economies, De-humanized Society, and Pollution

Pollution, Development, and Democracy

China’s Lose-Lose-Lose Proposition

China’s Air Pollution—Gasping For a Breath of Fresh Air

Bitter Water:  China’s Lakes, Rivers, and Streams of Poison

How Bad Is The Water Pollution Situation In China?

Cancer Villages and Insanity

Why Has China’s Water Pollution Gotten So Bad?

Lifeless Oceans

A Plague Upon the Land

China’s “Dead Zones”

The Land of Arsenic

Why is Such Pollution Tolerated?

CCP Land Policies Promote Abuse

Losing the Bread Basket

The Deforestation and Desertification of China

What is the Real Cause of Desertification?

Ghosts of Famines Past

Notes

Chapter 7: Political Transition and the Breaking Point

Political Exclusivity versus Stability

Will Xi Jinping Unify the CCP?

Rule by Committee Challenges

Internal Political Challenges

Liberalization versus Stability

Passing the Torch:  New Light or Just More Heat?

Socio-political Challenges for The New Leadership

How Will the New Chinese Leadership Navigate the Rough Waters Ahead?

What Do the Crises Mean for China’s Internal Situation?

Why the CCP Think Demonizing America is Necessary?

Hell and High Water

Notes

Chapter 8: Empire Decline and Complexity Theory

China as an Empire

Hong Kong

Taiwan

China’s Uighur Problem in Xinjiang

The Sandals and Saffron Threat of Tibet

Fear and Greed in the New Leadership

Complexity Theory

Notes

Chapter 9: The Fall of the Red Dragon

China’s War with China

The Break Up

Conclusion

Notes

About the Author

Index