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Debt and Distortion

Risks and Reforms in the Chinese Financial System

  • Paul Armstrong-Taylor

Table of contents

  1. Front Matter
    Pages i-xviii
  2. Current Economic Model

    1. Front Matter
      Pages 1-1
    2. Paul Armstrong-Taylor
      Pages 3-9
    3. Paul Armstrong-Taylor
      Pages 11-23
    4. Paul Armstrong-Taylor
      Pages 25-40
    5. Paul Armstrong-Taylor
      Pages 41-53
    6. Paul Armstrong-Taylor
      Pages 55-61
    7. Paul Armstrong-Taylor
      Pages 63-64
  3. Domestic Reforms

    1. Front Matter
      Pages 65-66
    2. Paul Armstrong-Taylor
      Pages 67-79
    3. Paul Armstrong-Taylor
      Pages 81-97
    4. Paul Armstrong-Taylor
      Pages 99-116
    5. Paul Armstrong-Taylor
      Pages 117-123
    6. Paul Armstrong-Taylor
      Pages 125-143
    7. Paul Armstrong-Taylor
      Pages 145-157
  4. International Reforms

    1. Front Matter
      Pages 159-160
    2. Paul Armstrong-Taylor
      Pages 161-167
    3. Paul Armstrong-Taylor
      Pages 169-184
    4. Paul Armstrong-Taylor
      Pages 185-197
  5. Politics

    1. Front Matter
      Pages 207-207
    2. Paul Armstrong-Taylor
      Pages 209-214
    3. Paul Armstrong-Taylor
      Pages 215-223
  6. Risks and Consequences

    1. Front Matter
      Pages 225-225
    2. Paul Armstrong-Taylor
      Pages 227-248
    3. Paul Armstrong-Taylor
      Pages 249-254
    4. Paul Armstrong-Taylor
      Pages 255-259
  7. Back Matter
    Pages 261-270

About this book

Introduction

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. 

Keywords

China Chinese economy financial system Chinese history Chinese politics Chinese financial markets Chinese financial reform Chinese financial risk

Authors and affiliations

  • Paul Armstrong-Taylor
    • 1
  1. 1.Nanjing UniversityNanjingChina

Bibliographic information

  • DOI https://doi.org/10.1057/978-1-137-53401-9
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2016
  • Publisher Name Palgrave Macmillan, London
  • eBook Packages Economics and Finance
  • Print ISBN 978-1-137-53400-2
  • Online ISBN 978-1-137-53401-9
  • Buy this book on publisher's site