"The Chinese economy appears destined for failure, the financial bubble forever in peril of popping, the real estate sector doomed to collapse, the factories fated for bankruptcy. Banks drowning in bad loans. An urban landscape littered with ghost towns of empty property. Industrial zones stalked by zombie firms. Trade tariffs blocking the path to global markets. And yet, against the odds and against expectations, growth continues, wealth rises, international influence expands. The coming collapse of China is always coming, never arriving. Thomas Orlik, a veteran of more than a decade in Beijing, turns the spotlight on China's fragile fundamentals, and resources for resilience. Drawing on discussions with Communist cadres, shadow bankers, and migrant workers, Orlik pieces together a unique perspective on China's past, present, and possible futures."--From publisher's description.

A tree cannot grow to the sky -- China's debt mountain: the borrowers -- China's debt mountain: the lenders -- China's first two cycles -- China's third cycle and the origins of the Great Financial Crisis -- Xi Jinping and the start of China's fourth cycle -- Deleveraging without self-detonating -- Technology transfer and trade tariffs -- This time is different? -- War-gaming a China crisis -- It's never too late.