Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise

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Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise

Format:  Hardcover,

260 pages

Edition: Revised, Update

Publisher: John Wiley & Sons Inc

Publish Date: Mar 2012

ISBN-13: 9781118255100

ISBN-10: 1118255100

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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 world's premier global economy? Walter and Howie aren't so certain, and in this revised and updated edition of "Red Capitalism" they examine whether or not the 21st century really will belong to China.The specter of a powerful China is haunting the U.S. and other countries suffering from economic decline and this book explores China's next movePacked with new statistics and stories based on recent developments, this new edition updates the outlook on China's future with the most cutting-edge information availableFind out how China financed its current position of strength and whether it will be able to maintain its astonishing momentum

Indispensable reading for anyone looking to understand the limits that China's past development decisions have imposed on its brilliant future, "Red Capitalism" is an essential resource for anyone considering China's business strategies in today's extremely challenging global economy.

Specifications

Publisher: John Wiley & Sons Inc
Publish Date: Mar 2012
ISBN-13: 9781118255100
ISBN-10: 1118255100
Format: Hardcover
Number of Pages: 260
Shipping Weight (in pounds): 1.15
Product in Inches (L x W x H): 6.25 x 9.0 x 1.0

Chapter outline

Preface to the Second Editionp. xi
Preface to the First Editionp. xvii
List of Abbreviationsp. xxi
Looking Back at the Policy of Reform and Openingp. 1
Thirty years of opening up: 1978-2008p. 2
Thirteen years of reform: 1992-2005p. 10
The end of reform: 2005p. 15
China is a family businessp. 22
China's Fortress Banking Systemp. 27
Banks are China's financial systemp. 29
China's banks are big banksp. 31
Crisis: The stimulus to bank reform, 1988 and 1998p. 33
China's fortress banking system in 2010p. 41
The sudden thirst for capital and cash dividends, 2010p. 47
The Fragile Fortressp. 53
The People's Bank of China restructuring modelp. 56
The Ministry of Finance restructuring modelp. 66
The "perpetual put" option to the PBOCp. 73
The new Great Leap Forward Economyp. 76
China's latest banking modelp. 82
Valuing the asset management companiesp. 85
Implicationsp. 88
China's Captive Bond Marketp. 95
Why does China have a bond market?p. 98
Risk managementp. 102
The base of the pyramid: Protecting household depositorsp. 116
The Struggle over China's Bond Marketsp. 125
The CDB, the MOF, and the Big 4 Banksp. 126
Local governments unleashedp. 134
Credit enhancementsp. 141
China Investment Corporation: Linchpin of China's financial systemp. 145
Cycles in the financial marketsp. 158
Western Finance, SOE Reform, and China's Stock Marketsp. 163
China's stock markets todayp. 164
Why does China have stock markets?p. 168
What stock markets gave Chinap. 172
The National Team and China's Governmentp. 185
Zhu Rongji's gift: Organizational streamlining, 1998p. 186
How the National Team, its families, and friends benefitp. 196
A casino or a success, or both?p. 209
Implicationsp. 212
The Forbidden Cityp. 215
The Emperor of Financep. 217
Behind the vermillion wallsp. 220
An Empire apartp. 227
Have the walls been breached?p. 231
Cracks in the wallsp. 235
Imperial ornamentsp. 239
Appendixp. 245
Select Bibliographyp. 249
Indexp. 251

Book description

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 world's premier global economy? Walter and Howie aren't so certain, and in this revised and updated edition of Red Capitalism they examine whether or not the 21st century really will belong to China.

  • The specter of a powerful China is haunting the U.S. and other countries suffering from economic decline and this book explores China's next move
  • Packed with new statistics and stories based on recent developments, this new edition updates the outlook on China's future with the most cutting-edge information available
  • Find out how China financed its current position of strength and whether it will be able to maintain its astonishing momentum

Indispensable reading for anyone looking to understand the limits that China's past development decisions have imposed on its brilliant future, Red Capitalism is an essential resource for anyone considering China's business strategies in today's extremely challenging global economy.

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