The Biggest Ponzi Scheme The World Has Ever Seen?
China's recent impressive economic growth has been built largely on massive debt. According to some estimates, in just over a decade China has managed to rack up debt in excess of 300% of its GDP, effectively placing a ticking time-bomb under the world economy. Is China heading for a financial crisis, and if so when? In this episode, Graeme and Louisa are joined by Dinny MacMahon, the author of China’s Great Wall of Debt, and Tim Murray, co-founder of J Capital Research, who make predictions about China's financial future and explain how Beijing's strategy may be driving a stealthy renationalization of the Chinese economy.