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CHINA'S GREAT WALL OF DEBT

SHADOW BANKS, GHOST CITIES, MASSIVE LOANS, AND THE END OF THE CHINESE MIRACLE

The specter of Chinese dominance, McMahon writes, is less daunting than the likelihood of the Chinese economy’s failure. Of...

China is poised to overtake the United States, and the rest of the developed world, economically by the year 2030. Or is it? To gauge by this account, Western capitalists can breathe a little easier.

Business journalist McMahon, a longtime China reporter for the Wall Street Journal and current fellow at the Paulson Institute, contends that for all the anti-corruption rhetoric of the Xi Jinping government, corruption is still rampant, adding burdens to an economy already bound by strains of command-economy socialism, free-market capitalism, crony capitalism, and state capitalism, all designations that fail “to sufficiently describe the nature of the Chinese economy.” Suffice it to say that nothing is as it seems: the data are fudged, the numbers untrustworthy and incomplete, and while the government presence is inescapable, there is evidently little coordination among the sectors. One thing that all seem to agree on is that growth is of paramount importance, even if demand does not always approach considerations of supply. For that reason, China has too many industrial facilities, for instance, and too many “shadow cities” and empty housing developments. Even so, McMahon writes, the Chinese government is planning to grow its way out of current problems, including massive, underreported debt, whether through supply-side reforms and expansion into new areas of economic activity or falling by old standbys. The old ones certainly seem not to be working. By the author’s account, consumer dissatisfaction is high, and all the more so the dissatisfaction of investors in failed sectors. If China fails to build its economy and become truly wealthy, he notes, then demographic pressures caused by an aging population will mean that the “nation’s ambitions of national rejuvenation will be postponed for at least another generation.”

The specter of Chinese dominance, McMahon writes, is less daunting than the likelihood of the Chinese economy’s failure. Of considerable interest, especially to investors in the Chinese market.

Pub Date: March 13, 2018

ISBN: 978-1-328-84601-3

Page Count: 288

Publisher: Houghton Mifflin Harcourt

Review Posted Online: Jan. 8, 2018

Kirkus Reviews Issue: Feb. 1, 2018

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A PEOPLE'S HISTORY OF THE UNITED STATES

For Howard Zinn, long-time civil rights and anti-war activist, history and ideology have a lot in common. Since he thinks that everything is in someone's interest, the historian—Zinn posits—has to figure out whose interests he or she is defining/defending/reconstructing (hence one of his previous books, The Politics of History). Zinn has no doubts about where he stands in this "people's history": "it is a history disrespectful of governments and respectful of people's movements of resistance." So what we get here, instead of the usual survey of wars, presidents, and institutions, is a survey of the usual rebellions, strikes, and protest movements. Zinn starts out by depicting the arrival of Columbus in North America from the standpoint of the Indians (which amounts to their standpoint as constructed from the observations of the Europeans); and, after easily establishing the cultural disharmony that ensued, he goes on to the importation of slaves into the colonies. Add the laborers and indentured servants that followed, plus women and later immigrants, and you have Zinn's amorphous constituency. To hear Zinn tell it, all anyone did in America at any time was to oppress or be oppressed; and so he obscures as much as his hated mainstream historical foes do—only in Zinn's case there is that absurd presumption that virtually everything that came to pass was the work of ruling-class planning: this amounts to one great indictment for conspiracy. Despite surface similarities, this is not a social history, since we get no sense of the fabric of life. Instead of negating the one-sided histories he detests, Zinn has merely reversed the image; the distortion remains.

Pub Date: Jan. 1, 1979

ISBN: 0061965588

Page Count: 772

Publisher: Harper & Row

Review Posted Online: May 26, 2012

Kirkus Reviews Issue: Jan. 1, 1979

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WHEN BREATH BECOMES AIR

A moving meditation on mortality by a gifted writer whose dual perspectives of physician and patient provide a singular...

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A neurosurgeon with a passion for literature tragically finds his perfect subject after his diagnosis of terminal lung cancer.

Writing isn’t brain surgery, but it’s rare when someone adept at the latter is also so accomplished at the former. Searching for meaning and purpose in his life, Kalanithi pursued a doctorate in literature and had felt certain that he wouldn’t enter the field of medicine, in which his father and other members of his family excelled. “But I couldn’t let go of the question,” he writes, after realizing that his goals “didn’t quite fit in an English department.” “Where did biology, morality, literature and philosophy intersect?” So he decided to set aside his doctoral dissertation and belatedly prepare for medical school, which “would allow me a chance to find answers that are not in books, to find a different sort of sublime, to forge relationships with the suffering, and to keep following the question of what makes human life meaningful, even in the face of death and decay.” The author’s empathy undoubtedly made him an exceptional doctor, and the precision of his prose—as well as the moral purpose underscoring it—suggests that he could have written a good book on any subject he chose. Part of what makes this book so essential is the fact that it was written under a death sentence following the diagnosis that upended his life, just as he was preparing to end his residency and attract offers at the top of his profession. Kalanithi learned he might have 10 years to live or perhaps five. Should he return to neurosurgery (he could and did), or should he write (he also did)? Should he and his wife have a baby? They did, eight months before he died, which was less than two years after the original diagnosis. “The fact of death is unsettling,” he understates. “Yet there is no other way to live.”

A moving meditation on mortality by a gifted writer whose dual perspectives of physician and patient provide a singular clarity.

Pub Date: Jan. 19, 2016

ISBN: 978-0-8129-8840-6

Page Count: 248

Publisher: Random House

Review Posted Online: Sept. 29, 2015

Kirkus Reviews Issue: Oct. 15, 2015

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