Asia and the subprime crisis : lifting the veil on the 'financial tsunami' / Chi Lo.

Format:

Book

Author/Creator:

Lo, Chi, 1960-

Language:

English

Subjects (All):

Global Financial Crisis, 2008-2009.

Financial crises--Asia.

Financial crises.

Economic conditions.

Asia.

Financial crises--China.

Asia--Economic conditions--21st century.

China--Economic conditions--2000-.

China.

Physical Description:

xiii, 127 pages : illustrations ; 22 cm

Place of Publication:

Basingstoke : Palgrave Macmillan, 2009.

Summary:

This is the first book that puts together Asia - in particular China - and the developed world in the subprime crisis context. Its integrated approach uses both macro (systemic) and micro (corporate) analysis to draw valuable lessons from the catastrophe.

This is not a normal crisis. World growth may experience a structural downward shift for the next decade. Asia's export-led growth model is shattered, and has not changed fast enough to take on the new post-subprime paradigm. China is liberalising its insurance sector (seen as the 'goldmine' in the future of world financial development) and trying to develop financial derivatives for insurance products.

The author uses a critical approach, questioning conventional wisdom at times, to asses the causes and impact of the subprime crisis and debunk misconception. Cutting through hype and bias, he discusses Asia's contribution to the root of the crisis, traces the regulatory and policy lessons to be learned and predicts the economic and financial aftermath. Combining research thoughts, data, facts and economic logic with real world examples and anecdotes to elaborate on the arguments, this thought-provoking book lifts the veil on the 'financial tsunami' to expose Asia's economic life in the post-subprime world.

Contents:

1 The Basics of the 'Financial Tsunami' 7

2 The Asian Relevance to the Subprime Crisis 15

3 The Subprime Impact on China 25

4 Macroeconomic Implications and China 39

5 Regulatory Lessons from the Rescue Efforts 49

6 What Can We Learn from AIG's Collapse? 61

7 Different Lessons from Lehman Brothers and Fortis 70

8 Quantitative Easing: a Subprime Antidote? 79

9 Life After Subprime 91

10 China After Subprime 109.

Notes:

Includes bibliographical references and index.

ISBN:

9780230236196

0230236197

OCLC:

317926490