Dinny McMahon is a Fellow at MacroPolo, a program of the Paulson Institute. He was a Kissinger Institute Fellow from 2015-2016. Prior to his Wilson Center residency, he was a journalist with the Wall Street Journal in Beijing where he wrote about China’s banking and financial sector, focusing on rising debt levels, urbanization and the role of the state sector in the economy. Previously Dinny wrote about the yuan and China's foreign exchange market in Shanghai for Dow Jones Newswires, and contributed to the Far Eastern Economic Review.

Dinny has a double degree from the University of New South Wales in Sydney, Australia, majoring in economics and Chinese. He also attended the Johns Hopkins School of Advanced International Studies program in Nanjing. Dinny speaks Chinese and has lived 13 years in China.

Project Summary

Since the global financial crisis, China's financial system has ballooned in size, complexity and risk. Once dominated by four banks, the system has become a tangle of shadow banking, informal financial institutions and complex corporate funding arrangements that threaten growth, economic stability and reform efforts. This project looks to explain the on-the-ground workings of the country's financial system, how it has contributed to China's rapid growth, and the challenges the country now faces as it tries to harness urbanization and SOE reform as alternative drivers of the economy.