Download or read book Back Alley Banking written by Kellee S. Tsai and published by Cornell University Press. This book was released on 2018-05-31 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Capitalism Without Democracy written by Kellee S. Tsai and published by Cornell University Press. This book was released on 2007 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on the activities and aspirations of the private entrepreneurs who are driving China's economic growth.
Download or read book Shanghai Future written by Anna Greesnpan and published by Oxford University Press. This book was released on 2014-11-15 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is in the midst of the fastest and most intense process of urbanization the world has ever known, and Shanghai -- its biggest, richest and most cosmopolitan city00 is positioned for acceleration into the twenty-first century. Yet, in its embrace of a hopeful -- even exultant -- futurism, Shanghai recalls the older and much criticized project of imagining, planning and building the modern metropolis. Today, among Westerners, at least, the very idea of the futuristic city -- with its multilayered skyways, domestic robots and flying cars -- seems doomed to the realm of nostalgia, the sadly comic promise of a future that failed to materialize. Shanghai Future maps the city of tomorrow as it resurfaces in a new time and place. It searches for the contours of an unknown and unfamiliar futurism in the city's street markets as well as in its skyscrapers. For though it recalls the modernity of an earlier age, Shanghai's current re-emergence is only superficially based on mimicry. Rather, in seeking to fulfill its ambitions, the giant metropolis is reinventing the very idea of the future itself. As it modernizes, Shanghai is necessarily recreating what it is to be modern.
Download or read book The Changing Organization written by Kaijun Guo and published by Cambridge University Press. This book was released on 2016-11-10 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is designed for academics and graduate students in organization theory, social theory, cybernetics, cross-cultural theory and systems theory. It examines social collectives and organisation culture, presenting a theoretical framework capable of improving our understanding and anticipation of its patterns of behaviour.
Download or read book Banking on Growth Models written by Stephen Bell and published by Cornell University Press. This book was released on 2022-05-15 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking on Growth Models contends that China's rapid economic rise from the late 1970s to today has been built on and shaped by a highly politicized and inefficient bank-centric financial system. Stephen Bell and Hui Feng argue that if the Chinese growth model drives how key economic sectors interact, no amount of incremental reform can have much impact on the financial system—meaningful reform can stem only from a revised growth model. For a time after the global financial crisis, it appeared that the expansion of a more market-oriented shadow banking system might help sustain China's economic growth. Since around 2015, however, Xi Jinping's regime has reversed this trajectory and placed China's financial system under heavy state control, resulting in slowed economic development and skyrocketing national debt. China's market transition and economic rebalancing are now in doubt, as is the fate of the nation's economy. By pinpointing finance as a vital element of the growth model, Bell and Feng provide a convincing assessment of financial risks and the prospects for economic rebalancing in China. Banking on Growth Models demystifies the world of Chinese banking and finance as it investigates an ever-rising national debt, a declining rate of economic growth, and the possibility of dire and drastic reform by the Asian superpower's government.
Download or read book Systemic Risk Institutional Design and the Regulation of Financial Markets written by Anita Anand and published by Oxford University Press. This book was released on 2016-12-22 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the recent financial crisis, regulators have been preoccupied with the concept of systemic risk in financial markets, believing that such risk could cause the markets that they oversee to implode. At the same time, they have demonstrated a certain inability to develop and implement comprehensive policies to address systemic risk. This inability is due not only to the indeterminacy inherent in the term 'systemic risk' but also to existing institutional structures which, because of their existing legal mandates, ultimately make it difficult to monitor and regulate systemic risk across an entire economic system. Bringing together leading figures in the field of financial regulation, this collection of essays explores the related concepts of systemic risk and institutional design of financial markets, responding to a number of questions: In terms of systemic risk, what precisely is the problem and what can be done about it? How should systemic risk be regulated? What should be the role of the central bank, banking authorities, and securities regulators? Should countries implement a macroprudential regulator? If not, how is macroprudential regulation to be addressed within their respective legislative schemes? What policy mechanisms can be employed when developing regulation relating to financial markets? A significant and timely examination of one of the most intractable challenges posed to financial regulation.
Download or read book Xi Jinping written by Alfred L. Chan and published by Oxford University Press. This book was released on 2022 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book, in one convenient volume, is the first comprehensive exploration of all episodes of Xi Jinping's (b. 1953) life history and his political career, begun at age 17. Part I explores Xi's formative childhood and youth experience as well as his governance record spanning every administrative level from the village to the capital. Part II focuses on Xi's first five-year term as General Secretary (2012-2017) and as President (2013-2018). The author discusses all major issues including Xi's legitimacy building, consolidation of power, ideological redefinition, party rectification, anti-corruption efforts, and control of dissent up until 2018. He explores reforms in the economy, social policy, the judiciary, military, and foreign relations in the same period. Xi's political life mirrors the vicissitudes of the Maoist and reform eras, and sheds light on the regime's hopes and fears, strengths and weaknesses, and the changing zeitgeist of the times. By adopting a multi-disciplinary, comparative, and social science approach, this book unpacks and explains immensely complex phenomena, and offers fresh insights into the dynamics of governance in China encompassing both progressive and regressive features. It synthesizes a large corpus of cutting-edge research on China, takes issue with influential theories such as the "one party, two coalitions" view of Chinese politics, and rejects conventional wisdom that views China as a "frozen and closed system" under "one-man rule." This original contribution to scholarship explores how Xi Jinping and his team introduced an unprecedented transformation of Chinese society and politics, and initiated an activist global outreach"--
Download or read book Corruption and Market in Contemporary China written by Yan Sun and published by Cornell University Press. This book was released on 2004 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: The phenomenology of reform-era corruption : categories, distribution, and perpetrators -- Between officials and citizens : transaction types of corruption -- Between officials and the public coffer : nontransaction types of corruption -- Between the state and localities : the regional dynamics of corruption -- Between the state and officials : the decline of disincentives against corruption.
Download or read book China Inc written by Ted C. Fishman and published by Simon and Schuster. This book was released on 2005 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: What will happen when China can make nearly everything the U.S. and Europe can make--at one-third the cost? Fishman delves into dangerous question that not everyone wants answered.
Download or read book Subprime Nation written by Herman M. Schwartz and published by Cornell University Press. This book was released on 2011-01-15 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his exceedingly timely and innovative look at the ramifications of the collapse of the U.S. housing market, Herman M. Schwartz makes the case that worldwide, U.S. growth and power over the last twenty years has depended in large part on domestic housing markets. Mortgage-based securities attracted a cascade of overseas capital into the U.S. economy. High levels of private home ownership, particularly in the United States and the United Kingdom, have helped pull in a disproportionately large share of world capital flows.As events since mid-2008 have made clear, mortgage lenders became ever more eager to extend housing loans, for the more mortgage packages they securitized, the higher their profits. As a result, they were dangerously inventive in creating new mortgage products, notably adjustable-rate and subprime mortgages, to attract new, mainly first-time, buyers into the housing market. However, mortgage-based instruments work only when confidence in the mortgage system is maintained. Regulatory failures in the American S&L sector, the accounting crisis that led to the extinction of Arthur Andersen, and the subprime crisis that destroyed Lehman Brothers and Merrill Lynch and damaged many other big financial institutions have jeopardized a significant engine of economic growth. Schwartz concentrates on the impact of U.S. regulatory failure on the international economy. He argues that the "local" problem of the housing crisis carries substantial and ongoing risks for U.S. economic health, the continuing primacy of the U.S. dollar in international financial circles, and U.S. hegemony in the world system.
Download or read book China s Modernization II written by Gerhard Preyer and published by BoD – Books on Demand. This book was released on 2015-09-09 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: The idea of only one way leading to a modern society seems to be hardly tenable. But even if we agree to this, our theories and terms describing modernization are gained on our own Western history. So social science has to reconsider its basic terms to describe China’s modernization, and maybe even the understanding of modernization itself. The second of two volumes on China’s modernization collects articles by leading Chinese and Western scientists focusing on the main conflicts and differences this process involves. In the first section – “On Contemporary Theory of Modernization” – Manussos Marangudakis represents Shmuel N. Eisenstadt’s concept of “Multiple Modernities and the Theory of Indeterminacy”, one of the best elaborated perspectives on modernity. “Changing China: Dealing with Diversity”, the second section, examines how China copes with dissent and discusses the significance of law and a civil society. Merle Goldman begins with “Dissent of China’s Public Intellectuals in the Post-Mao Era”. The “Modernization of Law in China – its Meaning, Achievements, Obstacles and Prospect” is the subject of Qingbo Zhang. Scott Wilson presents a Gramscian analysis of civil society in “China’s State in the Trenches”. And Francis Schortgen and Shalendra Sharma study how China is “Manufacturing Dissent: Domestic and International Ramifications of China’s Summer of Labor Unrest”. “Neoliberalism and the Changes in East Asian Welfare and Education” is the focus of the third section. Beatriz Carrillo Garcia investigates the “Business Opportunities and Philanthropic Initiatives” in China. “Time, Politics and Homelessness in Contemporary Japan” is the subject of Ritu Vij. Different school books show the “Educational Modernisation Across the Taiwan Straits” by David C. Schak. And Ho-fung Hung discusses the role of China in globalization following the question: “Is China Saving Global Capitalism from the Global Cri-sis?” The additional rubric “On Contemporary Philosophy” involves three articles about “International Development, Paradox and Phronesis” by Robert Kowalski, “The World in the Head” by Robert Cummins, and “Communication, Cooperation and Conflict” by Steffen Borge. Content and abstracts: www.protosociology.de
Download or read book Wealth Into Power written by Bruce J. Dickson and published by Cambridge University Press. This book was released on 2008-07-14 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dickson argues that, rather than promoting democratization, China's entrepreneurs offer key support for the Communist Party's agenda.
Download or read book Politics and Markets in Rural China written by Björn Alpermann and published by Routledge. This book was released on 2012-03-29 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thirty years have passed since the beginning of the reform era in China which saw important changes in agriculture and rural organizations, but it is clear that certain entrenched legacies from pre-reform China still linger on even after WTO accession, most importantly the key role played by state actors and politics in the development of markets in rural China. Although increasingly diversified markets have emerged for major agricultural inputs and products, their development cannot be understood without taking this role into account. Against this backdrop, the contributors to this book offer a fresh account of rural politics and markets, consciously linking these two realms and highlighting their interconnectedness. The book is organized in three parts addressing respectively markets for agricultural inputs and outputs as well as current policies in rural development. The perspectives adopted link macro- and micro-level analysis in each chapter and thus contribute substantially to our understanding of existing markets. As an original account of rural politics and markets in China this book will appeal to students and scholars of Chinese politics, economics, development studies and political economy.
Download or read book Global Finance in Emerging Market Economies written by Todd Knoop and published by Routledge. This book was released on 2013-02-11 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging market economies have accounted for three quarters of world economic growth and more than half of world output over the last decade. But the energy and ideas inherent in emerging economies cannot generate growth by themselves without resources to support them — and first among these resources is money which is needed to purchase the capital and knowhow that turn ideas and initiative into income. How do emerging economies rich in resources other than money get money? This question encapsulates what emerging market finance is all about, and why finance is absolutely crucial to economic development. In emerging countries, most of the population does not have access to bank accounts or financial markets to save or borrow. The result is that many firms cannot get access to financial resources to grow, while households cannot borrow and save in ways that could reduce the riskiness and poverty of their lives. Even those that do have access to formal finance find that credit is unreliable and expensive. These financial failures limit growth and also increase the frequency of costly financial crises. These issues, and many more like them, mean that finance in emerging economies is different and often more complex than the view presented in most textbooks, where finance is only considered from the perspective of wealthy, developed economies. This book addresses this failure by focusing on the important characteristics of financial systems in emerging market economies and their differences from those in developed countries. This book surveys both theoretical and empirical research on finance in emerging economies, as well as reviewing numerous case studies. The final chapters describe and compare financial systems within the four different regions that encompass most emerging economies: Sub-Saharan Africa, the Middle East, Asia, and South America.
Download or read book Historical Dictionary of the Financial System in China written by Lawrence R. Sullivan and published by Rowman & Littlefield. This book was released on 2024-10-21 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major themes in the history of finance in China reflect the persistent tension between a powerful state guiding the economy versus vibrant market forces operating according to basic commercial principles. Included is the continuity and discontinuity of financial developments in imperial and modern history; creation of a modern banking system beginning in the late nineteenth century; and emergence of complex and sophisticated financial institutions and products since the introduction of economic reforms in the People’s Republic of China in 1978-1979. The Historical Dictionary of the Financial System in China contains a chronology, an introduction, and an extensive bibliography. The dictionary section has more than 300 cross-referenced entries on important financiers, entrepreneurs, and government officials involved in finance, large state-owned banks (SOBs), state-owned enterprises (SOEs), hedge funds, exchange-traded funds, and asset-management companies. This book is an excellent resource for students, researchers, and anyone wanting to know more about the Chinese financial system.
Download or read book Prosper or Perish written by Lynette H. Ong and published by Cornell University Press. This book was released on 2012-09-15 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: The official banking institutions for rural China are Rural Credit Cooperatives (RCCs). Although these co-ops are mandated to support agricultural development among farm households, since 1980 half of RCC loans have gone to small and medium-sized industrial enterprises located in, and managed by, townships and villages. These township and village enterprises have experienced highly uneven levels of success, and by the end of the 1990s, half of all RCC loans were in or close to default, forcing China’s central bank to bail out RCCs. In Prosper or Perish, Lynette H. Ong examines the bias in RCC lending patterns, focusing on why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others. Interweaving insightful and theoretically informed discussions of rural credit, development, governance, and bank bailouts, Ong identifies various sources for China’s uneven development. In the highly decentralized fiscal environment of the People’s Republic, successful industrialization has significant implications for rural governance. Local governments depend on revenue from industrial output to provide public goods and services; unsuccessful enterprises starve local governments of revenue and result in radical cutbacks in services. High peasant burdens, land takings without adequate compensation by local governments, and other poor governance practices tend to be associated with unsuccessful industrialization. In light of the recent liberalization of the rural credit sector in China, Prosper or Perish makes a significant contribution to debates within political science, economic development, and international banking.
Download or read book China s Business Reforms written by Russell Smyth and published by Routledge. This book was released on 2004-11-10 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1993, China has been the second largest recipient of foreign direct investment in the world and is now considered to be the world's third biggest economy. The editors examine the key areas, all of which are linked, where China is grappling with institutional reforms as it opens up to the outside world.
