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Author: Axel Dreher
Publisher: Cambridge University Press
ISBN: 1108474101
Category : Business & Economics
Languages : en
Pages : 395
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Book Description
Explains China's transformation from 'benefactor' to 'banker' in its relationship with developing countries and traces the impacts of this change.
Author: Axel Dreher
Publisher: Cambridge University Press
ISBN: 1108474101
Category : Business & Economics
Languages : en
Pages : 395
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Book Description
Explains China's transformation from 'benefactor' to 'banker' in its relationship with developing countries and traces the impacts of this change.
Author: Stephen Bell
Publisher: Harvard University Press
ISBN: 0674073614
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
With $4.5 trillion in total assets, the People’s Bank of China now surpasses the U.S. Federal Reserve as the world’s biggest central bank. The Rise of the People’s Bank of China investigates how this increasingly authoritative institution grew from a Leninist party-state that once jealously guarded control of banking and macroeconomic policy. Relying on interviews with key players, this book is the first comprehensive and up-to-date account of the evolution of the central banking and monetary policy system in reform China. Stephen Bell and Hui Feng trace the bank’s ascent to Beijing’s policy circle, and explore the political and institutional dynamics behind its rise. In the early 1990s, the PBC—benefitting from political patronage and perceptions of its unique professional competency—found itself positioned to help steer the Chinese economy toward a more liberal, market-oriented system. Over the following decades, the PBC has assumed a prominent role in policy deliberations and financial reforms, such as fighting inflation, relaxing China’s exchange rate regime, managing reserves, reforming banking, and internationalizing the renminbi. Today, the People’s Bank of China confronts significant challenges in controlling inflation on the back of runaway growth, but it has established a strong track record in setting policy for both domestic reform and integration into the global economy.
Author: James Stent
Publisher: Oxford University Press
ISBN: 0190497033
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
China's Banking Transformation describes the strengths and weaknesses of the Chinese banking system based on the author's 12 years serving on two Chinese bank boards. Acknowledging the challenges banks face, the book challenges conventional views, maintaining that China's banks now function well within China's market socialist political economy, and within China's traditional collectivist cultural world.
Author: Shahid Yusuf
Publisher: World Bank Publications
ISBN: 0821381288
Category : Political Science
Languages : en
Pages : 244
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Book Description
This book explores the contrasting development options available to Beijing and Shanghai and proposes strategies for these cities based on their current and acquired capabilities, experience of other world cities, the emerging demand in the national market, and likely trends in global trade.
Author: James Riedel
Publisher: Princeton University Press
ISBN: 0691248060
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
Why investment and financial reform are essential to China's continued economic well-being Although China's economy has grown spectacularly over the last twenty-five years, economists disagree about how the Chinese economy is likely to fare in the short- and long-term future. Is China's growth sustainable, or has China relied too much on investment, which is subject to diminishing returns, and not enough on technological change? The first book on the relation between investment, finance, and growth in China, How China Grows dismisses this concern. James Riedel, Jing Jin, and Jian Gao argue that investment has not only been the engine of growth, but also the main source of technological progress and structural change in China. What threatens future growth instead, the authors argue, are the weaknesses of China's financial system that undermine efficiency in investment allocation. Financial-sector reform and development are necessary, not only for sustaining long-term growth, but also for maintaining macroeconomic stability. Although it includes some technical economic analysis, How China Grows is accessible to noneconomists and will benefit anyone who is interested in development finance in general and in China's economic growth in particular—whether economists, political scientists, bankers, or business people.
Author: Andrew Collier
Publisher: Springer
ISBN: 9811029962
Category : Business & Economics
Languages : en
Pages : 206
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Book Description
This book is about the growth of shadow banking in China and the rise of China’s free markets. Shadow Banking refers to capital that is distributed outside the formal banking system, including everything from Mom and Pop lending shops to online credit to giant state owned banks called Trusts. They have grown from a fraction of the economy ten years ago to nearly half of all China’s annual Rmb 25 trillion ($4.1 trillion) in lending in the economy today. Shadow Banks are a new aspect of capitalism in China – barely regulated, highly risky, yet tolerated by Beijing. They have been permitted to flourish because many companies cannot get access to formal bank loans. It is the Wild West of banking in China. If we define capitalism as economic activity controlled by the private sector, then Shadow Banking is still in a hybrid stage, a halfway house between the state and the private economic. But it is precisely this divide that makes Shadow Banking an important to the rise of capitalism. How Beijing handles this large free market will say a lot about how the country’s economy will grow – will free markets be granted greater leeway?
Author: Jim Mann
Publisher: Routledge
ISBN: 0429981724
Category : Political Science
Languages : en
Pages : 455
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Book Description
When China opened its doors to the West in the late 1970s, Western businesses jumped at the chance to sell their products to the most populous nation in the world. Boardrooms everywhere buzzed with excitement?a Coke for every citizen, a television for every family, a personal computer for every office. At no other time have the institutions of Western capitalism tried to do business with a communist state to the extent that they did in China under Deng Xiaoping. Yet, over the decade leading up to the bloody events in and around Tiananmen Square, that experiment produced growing disappointment on both sides, and a vision of capturing the world's largest market faded.Picked as one of Fortune Magazine's "75 Smartest Books We Know," this updated version of Beijing Jeep, traces the history of the stormy romance between American business and Chinese communism through the experiences of American Motors and its operation in China, Beijing Jeep, a closely watched joint venture often visited by American politicians and Chinese leaders. Jim Mann explains how some of the world's savviest executives completely misjudged the business climate and recounts how the Chinese, who acquired valuable new technology at virtually no expense to themselves, ultimately outcapitalized the capitalists. And, in a new epilogue, Mann revisits and updates the events which constituted the main issues of the first edition.Elegantly written, brilliantly reported, Beijing Jeep is a cautionary tale about the West's age-old quest to do business in the Middle Kingdom.
Author: Yuen Yuen Ang
Publisher: Cornell University Press
ISBN: 1501706403
Category : History
Languages : en
Pages : 345
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Book Description
WINNER OF THE 2017 PETER KATZENSTEIN BOOK PRIZE "BEST OF BOOKS IN 2017" BY FOREIGN AFFAIRS WINNER OF THE 2018 VIVIAN ZELIZER PRIZE BEST BOOK AWARD IN ECONOMIC SOCIOLOGY "How China Escaped the Poverty Trap truly offers game-changing ideas for the analysis and implementation of socio-economic development and should have a major impact across many social sciences." ― Zelizer Best Book in Economic Sociology Prize Committee Acclaimed as "game changing" and "field shifting," How China Escaped the Poverty Trap advances a new paradigm in the political economy of development and sheds new light on China's rise. How can poor and weak societies escape poverty traps? Political economists have traditionally offered three answers: "stimulate growth first," "build good institutions first," or "some fortunate nations inherited good institutions that led to growth." Yuen Yuen Ang rejects all three schools of thought and their underlying assumptions: linear causation, a mechanistic worldview, and historical determinism. Instead, she launches a new paradigm grounded in complex adaptive systems, which embraces the reality of interdependence and humanity's capacity to innovate. Combining this original lens with more than 400 interviews with Chinese bureaucrats and entrepreneurs, Ang systematically reenacts the complex process that turned China from a communist backwater into a global juggernaut in just 35 years. Contrary to popular misconceptions, she shows that what drove China's great transformation was not centralized authoritarian control, but "directed improvisation"—top-down directions from Beijing paired with bottom-up improvisation among local officials. Her analysis reveals two broad lessons on development. First, transformative change requires an adaptive governing system that empowers ground-level actors to create new solutions for evolving problems. Second, the first step out of the poverty trap is to "use what you have"—harnessing existing resources to kick-start new markets, even if that means defying first-world norms. Bold and meticulously researched, How China Escaped the Poverty Trap opens up a whole new avenue of thinking for scholars, practitioners, and anyone seeking to build adaptive systems.
Author: Linsun Cheng
Publisher: Cambridge University Press
ISBN: 9780521811422
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
This is the first book to document in English the evolution of modern Chinese banking, from the establishment in 1897 of the first Chinese bank along a Western model, to the abrupt interruption of professional banking by the Japanese invasion in 1937. Drawing from original documents of major Chinese banks, Linsun Cheng explains how and why the banks were able, despite a succession of foreign and domestic crises, to grow into viable and self-sustaining institutions in China. Rich with new, unpublished historical details, this book offers an original, comprehensive narrative of the origins and growth of professional banks.
Author: Kellee S. Tsai
Publisher: Cornell University Press
ISBN: 1501717154
Category : Political Science
Languages : en
Pages : 335
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Book Description
Chinese entrepreneurs have founded more than thirty million private businesses since Beijing instituted economic reforms in the late 1970s. Most of these private ventures, however, have been denied access to official sources of credit. State banks continue to serve state-owned enterprises, yet most private financing remains illegal. How have Chinese entrepreneurs managed to fund their operations? In defiance of the national banking laws, small business owners have created a dizzying variety of informal financing mechanisms, including rotating credit associations and private banks disguised as other types of organizations. Back-Alley Banking includes lively biographical sketches of individual entrepreneurs; telling quotations from official documents, policy statements, and newspaper accounts; and interviews with a wide variety of women and men who give vivid narratives of their daily struggles, accomplishments, and hopes for future prosperity. Kellee S. Tsai's book draws upon her unparalleled fieldwork in China's world of shadow finance to challenge conventional ideas about the political economy of development. Business owners in China, she shows, have mobilized local social and political resources in innovative ways despite the absence of state-directed credit or a well-defined system of private property rights. Entrepreneurs and local officials have been able to draw on the uncertainty of formal political and economic institutions to enhance local prosperity.
