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Debt and Distortion - Risks and Reforms in the Chinese Financial System (Hardcover, 1st ed. 2016)
Loot Price: R1,480
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Debt and Distortion - Risks and Reforms in the Chinese Financial System (Hardcover, 1st ed. 2016)
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China's unprecedented growth has transformed the lives of its
people and impacted economies across the globe. The financial
system supported this growth by providing cheap loans to boost
investment and, in a virtuous cycle, rapid growth insured that
these loans could be repaid. However, in recent years, this
virtuous cycle has turned vicious. The financial system has
continued to lend freely and cheaply as the economy has slowed, and
the risk of crisis has mounted. In response, the government has
initiated the most ambitious financial reforms in twenty years.
Financial markets, businesses and governments are concerned about
these risks and are struggling to understand what the reforms will
mean for China and the rest of the world. Debt and Distortion:
Risks and Reforms in the Chinese Financial System addresses the
need for an up-to-date and accessible, yet comprehensive analysis
of China's financial system and related reforms. It will take a
systematic look at China's financial system: how it worked in the
past and how it will work in the future; why reforms are needed;
what risks they bring; and their impact on China and the rest of
the world. By analyzing the topic in terms of a few fundamental
distortions, this book makes an otherwise complex topic accessible
while simultaneously providing new insights. These distortions
provide a simple framework for understanding the nature of the
Chinese financial system and its future prospects. Reform in China
will transform the world's second largest economy and impact
everything from Peruvian copper mines to the London housing market.
Business people, government officials, financiers and informed
citizens would all benefit from understanding how changes in
China's financial system will shape the global economy in the
coming decades.
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