{"product_id":"the-red-dream","title":"The Red Dream","description":"\u003cp\u003e\u003cb\u003ePRAISE FOR THE RED DREAM\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e“Carl Walter has an unparalleled experience in Chinese banking stretching over 30 years. In \u003ci\u003eThe Red Dream\u003c\/i\u003e he exposes the real cost of China’s obsession with GDP growth … \u003ci\u003eThe Red Dream\u003c\/i\u003e shows that not only are China’s financial foundations fragile but that the state net worth is illusionary.”\u003cbr\u003e\u003cb\u003e—Fraser JT Howie,\u003c\/b\u003e co-author, \u003ci\u003eRed Capitalism \u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e“Over a decade ago, Walter wrote the definitive text for a generation of China watchers trying to understand the mechanics of China’s financial system. His latest offering picks up where \u003ci\u003eRed Capitalism\u003c\/i\u003e left off, providing an invaluable accounting of the fragile financial dynamics underpinning the world’s second largest economy.”\u003cbr\u003e\u003cb\u003e—Dinny McMahon,\u003c\/b\u003e author of \u003ci\u003eChina’s Great Wall of Debt \u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e“Carl Walter’s \u003ci\u003eThe Red Dream\u003c\/i\u003e is a must-read. It is one of the most authoritative accounts yet of China’s economic development … Walter worked inside China’s financial system, as a banker, for more than three decades. Now, the author of \u003ci\u003eRed Capitalism\u003c\/i\u003e takes us on a guided tour of a political and economic system that continues to baffle leading economists.” \u003cbr\u003e\u003cb\u003e—David Barboza,\u003c\/b\u003e Co-founder, \u003ci\u003eThe China Wire \u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e“Soviet-style socialism failed in China and elsewhere because it was unable to stop pouring resources into unproductive enterprises. Carl Walter shows that the CCP’s obsession with control has reproduced the same flaw in different guise, generating enormous and unsustainable debt. Unusually large by any meaningful standard, the problem portends at best the end of China’s steady economic advance, and a downside that could be much worse.”\u003cbr\u003e\u003cb\u003e—Andrew G. Walder,\u003c\/b\u003e \u003ci\u003eStanford University \u003c\/i\u003e\u003c\/p\u003e","brand":"Carl E. Walter","offers":[{"title":"Default Title","offer_id":42818413985853,"sku":"9781119896159","price":39.56,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0597\/7689\/2989\/files\/9781119896159_3eb96248-158b-4263-a2dd-8e9f7641c648.jpg?v=1766919847","url":"https:\/\/www.palmleaf.com.au\/products\/the-red-dream","provider":"Palmleaf","version":"1.0","type":"link"}