China's Skewed Sex Ratio Makes President Xi's Job a Lot Harder

Quartz
As odd as it sounds, China’s economic policy is being held hostage by its heavily skewed sex ratio.

Books

08.21.17

China’s Banking Transformation

James Stent
In this timely and provocative book, James Stent, a banker with decades of experience in Asian banking and fluency in Chinese language, explains how Chinese banks work, analyzes their strengths and weaknesses, and sets forth the challenges they face in a slowing economy. Without minimizing the real issues Chinese banks face, China’s Banking Transformation challenges negative media accounts and reports of “China bears.” Based on his 13 years of service on the boards of China Minsheng Bank, a privately owned listed bank, and China Everbright Bank, a state-controlled listed bank, the author brings the informed view of an insider to the reality of Chinese banking.China’s Banking Transformation demonstrates that Chinese banks have transformed into modern, well-run commercial banks, playing a vital role supporting the country’s extraordinary economic growth. Acknowledging that China’s banks are different from Western banks, the author explains that they are hybrid banks, borrowing extensively from Western models, but at the same time operating within a traditional Chinese cultural framework and in line with China’s governance model.From his personal experience working at board level, Stent describes the governance and management of China’s banks, including the role of the Communist Party. He sees China’s banks as embedded in ancient concepts of how government and society work in China, and also as actors within a market socialist political economy. The Chinese banking system today bears similarities with banking in Northeast Asian “developmental states” of recent past, and also pre-1949 Chinese banking.As the first account of Chinese banking by a Westerner who has worked in China’s banks, China’s Banking Transformation should be read by anyone interested in the political economy of contemporary China, in Asian development issues, and in banking issues generally. The book dispels misconceptions and provides insight into the financial aspects of China’s economic growth story. —Oxford University Press{chop}

China's Stock Market Crash, Explained

Timothy B. Lee
Vox
Chinese stocks surged last year, but those gains didn't reflect broader economic gains. They were a result of more people investing in the stock market with borrowed funds...

Books

03.16.15

The China Boom

Ho-fung Hung
Many thought China’s rise would fundamentally remake the global order. Yet, much like other developing nations, the Chinese state now finds itself entrenched in a status quo characterized by free trade and American domination. Through a cutting-edge historical, sociological, and political analysis, Ho-fung Hung exposes the competing interests and economic realities that temper the dream of Chinese supremacy—forces that are stymieing growth throughout the global South. Hung focuses on four common misconceptions about China’s boom: that China could undermine orthodoxy by offering an alternative model of growth; that China is radically altering power relations between the East and the West; that China is capable of diminishing the global power of the United States; and that the Chinese economy would restore the world’s wealth after the 2008 financial crisis. His work reveals how much China depends on the existing order and how the interests of the Chinese elites maintain these ties. Through its perpetuation of the dollar standard and its addiction to U.S. Treasury bonds, China remains bound to the terms of its own prosperity, and its economic practices of exploiting debt bubbles are destined to fail. Dispelling many of the world’s fantasies and fears, Hung warns of a post-miracle China that will grow increasingly assertive in attitude while remaining constrained in capability. —Columbia University Press{chop}