Shadow Banking and the Rise of Capitalism in China
| Author | : | |
| Rating | : | 4.85 (508 Votes) |
| Asin | : | B06ZZSCTWS |
| Format Type | : | |
| Number of Pages | : | 189 Pages |
| Publish Date | : | 2015-02-06 |
| Language | : | English |
DESCRIPTION:
Shadow Banks are a new aspect of capitalism in China – barely regulated, highly risky, yet tolerated by Beijing. 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. It is the Wild West of banking in China. 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. If we define capitalism as economic activity controlled by the private sector, then Shadow Banking is still in a hybrid stage,
"one of the best books on the Chinese financial system" according to DiskMamaone of the best books on the Chinese financial system I would say it's 12 years of my trips to China trying to understand the financial system in one book. Even the anecdotes are similar! Would highly recommend if you are interested in understanding (not a typical beach bookdownright dry but I have to admit I geeked out and found it to be a page turner.) I'd almost say it's going to prove to be one of the best books on the Chinese financial system.. . I would say it's 12 years of my trips to China trying to understand the financial system in one book. Even the anecdotes are similar! Would highly recommend if you are interested in understanding (not a typical beach bookdownright dry but I have to admit I geeked out and found it to be a page turner.) I'd almost say it's going to prove to be one of the best books on the Chinese financial system.
Earlier in his career, he was an equity analyst with Bear Stearns and CLSA in Hong Kong, and a journalist covering business for the South China Morning Post in Beijing. He writes frequently for the Financial Times, Wall Street Journal, South China Morning Post, The Diplomat and other publications. He also is a Senior Fellow at the Mansfield Foundation in Washington. Andrew Collier is the former President of the Bank of China International USA, where he helped to launch BOCI’s U.S. off
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. 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. 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.