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Red capitalism : the fragile financial foundation of China's extraordinary rise / Carl E. Walter and Fraser J.T. Howie.
Lippincott Library HG187.C6 W348 2012
Available
- Format:
- Book
- Author/Creator:
- Walter, Carl E., 1947-
- Language:
- English
- Subjects (All):
- Finance--China.
- Finance.
- China.
- China--Economic conditions--2000-.
- Economic conditions.
- China--Economic policy--2000-.
- Economic policy.
- Physical Description:
- xxi, 260 pages : illustrations, map ; 24 cm
- Edition:
- Revised and updated edition.
- Place of Publication:
- Singapore ; Hoboken, NJ : Wiley, 2012.
- Contents:
- 1 Looking Back at the Policy of Reform and Opening 1
- Thirty years of opening up: 1978-2008 2
- Thirteen years of reform: 1992-2005 10
- The end of reform: 2005 15
- China is a family business 22
- 2 China's Fortress Banking System 27
- Banks are China's financial system 29
- China's banks are big banks 31
- Crisis: The stimulus to bank reform, 1988 and 1998 33
- China's fortress banking system in 2010 41
- The sudden thirst for capital and cash dividends, 2010 47
- 3 The Fragile Fortress 53
- The People's Bank of China restructuring model 56
- The Ministry of Finance restructuring model 66
- The "perpetual put" option to the PBOC 73
- The new Great Leap Forward Economy 76
- China's latest banking model 82
- Valuing the asset management companies 85
- Implications 88
- 4 China's Captive Bond Market 95
- Why does China have a bond market? 98
- Risk management 102
- The base of the pyramid: Protecting household depositors 116
- 5 The Struggle over China's Bond Markets 125
- The CDB, the MOF, and the Big 4 Banks 126
- Local governments unleashed 134
- Credit enhancements 141
- China Investment Corporation: Linchpin of China's financial system 145
- Cycles in the financial markets 158
- 6 Western Finance, SOE Reform, and China's Stock Markets 163
- China's stock markets today 164
- Why does China have stock markets? 168
- What stock markets gave China 172
- 7 The National Team and China's Government 185
- Zhu Rongji's gift: Organizational streamlining, 1998 186
- How the National Team, its families, and friends benefit 196
- A casino or a success, or both? 209
- Implications 212
- 8 The Forbidden City 215
- The Emperor of Finance 217
- Behind the vermillion walls 220
- An Empire apart 227
- Have the walls been breached? 231
- Cracks in the walls 235
- Imperial ornaments 239.
- Notes:
- Includes bibliographical references and index.
- ISBN:
- 9781118255100
- 1118255100
- OCLC:
- 769545807
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