Rashna
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An interesting take on how China battled the West's economic recession in the post lehman bros. era by going ballistic with infrastructure building all financed through loans and shadow credit. China's debt burden today stands at double its GDP and this documentary is an eye opener for those who believe that shiny buildings and metro rails are a sign of economic boom. This documentary was made in 2014 and we are already beginning to see the effects on the Chinese economy.
China is now the second largest economy in the world and for the last 30 years China's economy has been growing at an astonishing rate. While Britain has been in the grip of the worst recession in a generation, China's economic miracle has wowed the world.
It is a story of spending and investment on a scale never seen before in human history -- 30 new airports, 26,000 miles of motorways and a new skyscraper every five days have been built in China in the last five years. But, in a situation eerily reminiscent of what has happened in the west, the vast majority of it has been built on credit.
This has now left the Chinese economy with huge debts and questions over whether much of the money can ever be paid back. Interviewing key players including the former American treasury secretary Henry Paulson, Lord Adair Turner, former chairman of the FSA, and Charlene Chu, a leading Chinese banking analyst, Robert Peston reveals how China's extraordinary spending has left the country with levels of debt that many believe can only end in an economic crash with untold consequences for us all.
[video=dailymotion;x1cpoyc]http://www.dailymotion.com/video/x1cpoyc_bbc-this-world-2014-how-china-fooled-the-world-720p-hdtv-x264-aac-mvgroup-org_tech[/video]
China is now the second largest economy in the world and for the last 30 years China's economy has been growing at an astonishing rate. While Britain has been in the grip of the worst recession in a generation, China's economic miracle has wowed the world.
It is a story of spending and investment on a scale never seen before in human history -- 30 new airports, 26,000 miles of motorways and a new skyscraper every five days have been built in China in the last five years. But, in a situation eerily reminiscent of what has happened in the west, the vast majority of it has been built on credit.
This has now left the Chinese economy with huge debts and questions over whether much of the money can ever be paid back. Interviewing key players including the former American treasury secretary Henry Paulson, Lord Adair Turner, former chairman of the FSA, and Charlene Chu, a leading Chinese banking analyst, Robert Peston reveals how China's extraordinary spending has left the country with levels of debt that many believe can only end in an economic crash with untold consequences for us all.
[video=dailymotion;x1cpoyc]http://www.dailymotion.com/video/x1cpoyc_bbc-this-world-2014-how-china-fooled-the-world-720p-hdtv-x264-aac-mvgroup-org_tech[/video]