The Red Dream: The Chinese Communist Party and the Financial Deterioration of China Walter Carl E.
In just 20 years China has become the second-largest economy in the world. Xi Jinping's China Dream appears to be that he intends to make it the most powerful as well. The Red Dream: The Chinese…
Specifikacia The Red Dream: The Chinese Communist Party and the Financial Deterioration of China Walter Carl E.
In just 20 years China has become the second-largest economy in the world. Xi Jinping's China Dream appears to be that he intends to make it the most powerful as well. The Red Dream: The Chinese Communist Party and the Financial Deterioration of China looks at this achievement and the past 40 years of China's history from a financial viewpoint. It asks how in just the last 20 years China has risen to such prominence. The answer is similar to answers for other countries: it borrowed the money just as it borrowed some of the technology. In China, borrowing is endemic from the start of the reform era in 1978. It began with local governments having their budgets deliberately underfunded by Beijing. Over time this rendered not just local governments but also state enterprises highly vulnerable to those that had capital: real estate developers and foreign multinationals.
Manifesto of the Communist Party