Michael Forsythe – författare

Anyone wanting a primer on the secret of China''s economic success need look no further than China Development Bank (CDB)—which has displaced the World Bank as the world''s biggest development bank, lending billions to countries around the globe to further Chinese policy goals. In China’s Superbank, Bloomberg authors Michael Forsythe and Henry Sanderson outline how the bank is at the center of China''s domestic economic growth and how it is helping to expand China''s influence in strategically important overseas markets.

100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of China''s state-led economic development model, and its most glaring flaws. The bank is at the center of the country''s efforts to build a world-class network of highways, railroads, and power grids, pioneering a lending scheme to local governments that threatens to spawn trillions of yuan in bad loans. It is doling out credit lines by the billions to Chinese solar and wind power makers, threatening to bury global competitors with a flood of cheap products. Another $45 billion in credit has been given to the country''s two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of China''s leaders for its leading companies to "go global."

Bringing the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans, China’s Superbank travels the globe, from Africa, where its China-Africa fund is displacing Western lenders in a battle for influence, to the oil fields of Venezuela.

As China''s influence continues to grow around the world, many people are asking how far it will extend. China’s Superbank addresses these vital questions, looking at the institution at the heart of this growth.

Anyone wanting a primer on the secret of China''s economic success need look no further than China Development Bank (CDB)—which has displaced the World Bank as the world''s biggest development bank, lending billions to countries around the globe to further Chinese policy goals. In China’s Superbank, Bloomberg authors Michael Forsythe and Henry Sanderson outline how the bank is at the center of China''s domestic economic growth and how it is helping to expand China''s influence in strategically important overseas markets.

100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of China''s state-led economic development model, and its most glaring flaws. The bank is at the center of the country''s efforts to build a world-class network of highways, railroads, and power grids, pioneering a lending scheme to local governments that threatens to spawn trillions of yuan in bad loans. It is doling out credit lines by the billions to Chinese solar and wind power makers, threatening to bury global competitors with a flood of cheap products. Another $45 billion in credit has been given to the country''s two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of China''s leaders for its leading companies to "go global."

Bringing the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans, China’s Superbank travels the globe, from Africa, where its China-Africa fund is displacing Western lenders in a battle for influence, to the oil fields of Venezuela.

As China''s influence continues to grow around the world, many people are asking how far it will extend. China’s Superbank addresses these vital questions, looking at the institution at the heart of this growth.

Brought to you by Penguin.An explosive exposé of the world''s most prestigious and successful management consultancy____''Panoramic, meticulously reported and ultimately devastating'' Patrick Radden Keefe, author of Empire of Pain''Every page made my blood boil'' Joseph E. Stiglitz, Nobel laureate, author of The Price of Inequality____McKinsey earns billions advising almost every major corporation as well as countless governments, including Britain''s, the USA''s and China''s. It boasts of its ability to maximise efficiency while making the world a better place. Its millionaire partners and network of alumni go on to top jobs in the world''s most powerful organisations. And yet, shielded by non-disclosure agreements, its work remains largely secret - until now. In this propulsive investigation, two prize-winning journalists reveal the reality. McKinsey''s work includes incentivising the prescription of opioids; ruthless cost-cutting in the NHS; executing Trump''s immigration policies (the ones that put children in cages). Meanwhile its vast profits derive from a client roster that has included the coal, tobacco and vaping industries, as well as some of the world''s most unsavoury despots. And for the last six decades, McKinsey has been the brains behind many of the most loathed and controversial business practices: mass lay-offs, outsourcing overseas, soaring executive pay, as well as the key innovations that led to the financial crash. McKinsey proudly insists it is a values-led organisation. When McKinsey Comes to Town is a parable of values betrayed: a devastating portrait of a firm whose work has often made the world more unequal, more corrupt and more dangerous.© Walt Bogdanich & Michael Forsythe 2022 (P) Penguin Audio 2022