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Shadow Banking and the Rise of Capitalism in China (Paperback, Softcover reprint of the original 1st ed. 2017)
Loot Price: R2,549
Discovery Miles 25 490
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Shadow Banking and the Rise of Capitalism in China (Paperback, Softcover reprint of the original 1st ed. 2017)
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Total price: R2,569
Discovery Miles: 25 690
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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?
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