Red capitalism : the fragile financial foundation of China's extraordinary rise / Carl E. Walter and Fraser J.T. Howie.

Format:

Book

Author/Creator:

Walter, Carl E., 1947-

Contributor:

Howie, Fraser J. T.

Language:

English

Subjects (All):

Finance--China.

Finance.

China--Economic conditions--2000-.

China.

China--Economic policy--2000-.

Physical Description:

1 online resource (286 p.)

Edition:

Rev. and updated ed.

Place of Publication:

Singapore : Wiley & Sons Singapore Pte. Ltd., c2012.

Language Note:

English

Summary:

The truth behind the rise of China and whether or not it will be able to maintain it How did China transform itself so quickly? In Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise, Revised Edition Carl Walter and Fraser Howie go deep inside the Chinese financial machine to illuminate the social and political consequences of the unique business model that propelled China to economic powerhouse status, and question whether this rapid ascension really lives up to its reputation. All eyes are on China, but will it really surpass the U.S. as the

Contents:

Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise; Contents; Preface to the Second Edition; Preface to the First Edition; List of Abbreviations; 1. Looking Back at the Policy of Reform and Opening; Thirty years of opening up: 1978-2008; Thirteen years of reform: 1992-2005; The end of reform: 2005; China is a family business; 2. China's Fortress Banking System; Banks are China's financial system; China's banks are big banks; Crisis: The stimulus to bank reform, 1988 and 1998; China's fortress banking system in 2010

The sudden thirst for capital and cash dividends, 20103. The Fragile Fortress; The People's Bank of China restructuring model; The Ministry of Finance restructuring model; The ""perpetual put"" option to the PBOC; The new Great Leap Forward Economy; China's latest banking model; Valuing the asset management companies; Implications; 4. China's Captive Bond Market; Why does China have a bond market?; Risk management; The base of the pyramid: Protecting household depositors; 5. The Struggle over China's Bond Markets; The CDB, the MOF, and the Big 4 Banks; Local governments unleashed

Credit enhancements China Investment Corporation: Linchpin of China's financial system; Cycles in the financial markets; 6. Western Finance, SOE Reform, and China's Stock Markets; China's stock markets today; Why does China have stock markets?; What stock markets gave China; 7. The National Team and China's Government; Zhu Rongji's gift: Organizational streamlining, 1998; How the National Team, its families, and friends benefit; A casino or a success, or both?; Implications; 8. The Forbidden City; The Emperor of Finance; Behind the vermilion walls; An Empire apart

Have the walls been breached? Cracks in the walls; Imperial ornaments; Appendix; Select Bibliography; Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

ISBN:

9786613852861

9781119199083

1119199085

9781118255131

1118255135

9781283540414

128354041X

9781118255117

1118255119

OCLC:

806039889