China's Superbank: Debt, Oil and Influence - How China Development Bank is Rewriting the Rules of Finance - Couverture rigide

Sanderson, Henry; Forsythe, Michael

Couverture rigide

ISBN 10 : 1118176367 ISBN 13 : 9781118176368

Editeur : John Wiley & Sons Inc, 2013

Synopsis

Rare Book

A propos du livre

Revue de presse

"Despite CDB s central role in developing China s economy and bankrolling the international expansion of Chinese companies, China s biggest policy lender rarely makes an appearance in most English–language chronicles of the country s economic rise. All the more reason then to praise a superbly researched new book, written by two Beijing–based reporters for Bloomberg, in which CDB finally makes a star turn."

"Lifting the veil on one of global finance s least understood institutions, the book is essential reading for anyone seeking insight into the workings of Chinese state capitalism." –– China Economic Quarterly, March 2013
Reviewer: Erica Downs of the Brookings Institution

"China′s economy sometimes seems the work of miracles: three decades of economic growth, with GDP compounding at an annual rate of around 10%; the world′s highest levels of savings and investment; vast trade surpluses, which feed the largest foreign–exchange reserves in history. The financial system has played a key role in delivering these economic feats, and no single institution within it has been more important than China Development Bank. "Understand CDB," Henry Sanderson and Michael Forsythe write in "China′s Superbank," "and you understand the core of China′s state capitalism." –– Wall Street Journal review, Feb 27, 2013

"The book is another useful insight into the workings of the Chinese state apparatus to come out of the Bloomberg bureau in Beijing in July it printed an exposé about the family finances of Xi Jinping, and its website has been blocked since. One of the most striking aspects of the CDB story is how the bank managed to balance being a state–owned company with maintaining sufficient independence to function as a commercial business." –– Irish Times

"Calls for reform in China tend to come in two kinds one, the most common in Chinese social media and popular discussion, calls for a crackdown on endemic forms of local tyranny, such as land seizures, black prisons, and bribery.  The other, found among liberals within the Party and expatriate businessmen, talks about rolling back the growing dominance of the state and state–owned companies over the Chinese economy, opening more markets to competition and ending the practices that allow state–owned (or state–blessed) companies to command cheap access to capital, natural resources, and land. So far, Xi Jinping′s term looks promising for advocates of the first but the book [China′s Superbank: Debt, Oil and Influence How China Development Bank is Rewriting the Rules of Finance] makes a case that land seizures are at the very foundations of China′s model of state capitalism." –– The Diplomat

Quatrième de couverture

Praise for China′s Superbank

"The phenomenal economic rise of China and its growing global role have been driven by a unique mix of political and economic actors. China Development Bank has been at the center of much of this growth especially as the principal banker in China′s overseas commodity investments. Henry and Michael′s timely book, China′s Superbank, details for the first time the role that CDB has played under the focused leadership of its Chairman Chen Yuan. This book is essential reading for anyone wanting to understand how China funds its growth but it also raises important questions as to whether CDB′s strategy will be sustainable over the long term."
Fraser Howie, Managing Director, CLSA Singapore and co–author of Red Capitalism

"Combining in–depth knowledge of China with hard–nosed economic analysis and first–rate journalism, Sanderson and Forsythe have written an astonishingly detailed yet lively portrait of China′s muscular state capitalism. This important work tells us in concrete terms how China is expanding its influence around the world, not through military force, but through writing checks. This is a must–read for all those who take an interest in China′s rising influence in the world and its increasingly vulnerable financial system."
Victor Shih, Associate Professor, Northwestern University

"In China′s Superbank Henry and Michael shed a much–needed light on the operations and people behind China Development Bank, an apparent policy bank that in a brief decade has in many ways surpassed the power and functions of the country′s Ministry of Finance. The tale of how this formerly moribund institution ignited China′s local debt crisis while financing China′s foreign policy initiatives is a must for anyone seeking to understand China′s opaque financial system."
Carl Walter, former COO of JP Morgan China, independent consultant andco–author of Red Capitalism

"American Cabinet members say the global reach and growth of China Development Bank keeps them up at night. After reading this book, they might not go to sleep at all. For all the tsunami of news about China′s rise in recent years, the country′s political and financial institutions remain vastly undereported and little understood. Mike Forsythe and Henry Sanderson′s book helps correct that with remarkable detail and insights about the bank that laid the financial foundations for China′s economic miracle at home, before then finding a formula to spread its money abroad."
Richard McGregor, Financial Times reporter and author of The Party

À propos de cette édition

• Éditeur: John Wiley & Sons Inc
• Date d'édition: 2013
• ISBN 10: 1118176367
• ISBN 13: 9781118176368
• Reliure: Relié
• Nombre de pages: 250