The Trillion Dollar Hidden Economy in China

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China: The Big Lie? The Truth of Trillions in a Culture of Cash by Mario Cavolo In the years since China’s rapid economic rise, its middle class is now sitting on up to 10 trillion US dollars’ worth of savings. How we understand this “off the books” economy is going to fundamentally alter our view about China at the macro- and micro-economic levels for years to come. While mainstream Western media unrelentingly drives home the notion that China is headed for a major slowdown, Cavolo offers a thoroughly researched, on-the-ground look at the relationship between China’s secret wealth and the rest of society.

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