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Paper Dragons Reviews

Paper Dragons by Walden Bello

Paper Dragons: China and the Next Crash

Walden Bello

Score pending

1 review

Imprint: Zed Books Ltd
Publisher: Zed Books Ltd
Publication date: 2 Aug 2019
ISBN: 9781786995964

Walden Bello, one of the leading figures of the anti-globalisation movement, reveals how an impending financial crash in China may well bring the rest of world's economy down with it.

2 stars out of 5
12 Aug 2019

"In a book of more than 300 pages, I counted only one section of 14 devoted to China – and even that is confused and under-researched"

Paper Dragons is a book written very much in this vein, suggesting with its subtitle – China and the Next Crash – that the financialisation virus is now so far advanced that it is undermining China. I read it eagerly, hoping that Walden Bello – one of the leading figures of the anti-globalisation movement – would unmask how China’s financial system is running amok, and how its connections to world finance could potentially trigger the next crash. I was sorely disappointed. Bello may passionately share the general concern about the threat of deregulated global finance, but he knows next to nothing about China. In fact this is a serious case of literary mis-selling. In a book of more than 300 pages, I counted only one section of 14 devoted to China – and even that is confused and under-researched. Compared with Adam Tooze’s magisterial Crashed or Adair Turner’s Between Debt and the Devil – both in the same territory and neither of which Bello cites – this is thin gruel.

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