Red Capitalism
Red Capitalism goes deep inside the Chinese financial machine to illuminate the social and political consequences of the unique business model that propelled China to economic powerhouse status. It is indispensable reading for anyone looking to understand the limits that China's past development decisions have imposed on its brilliant future. Red Capitalism is an essential resource for anyone considering China's business strategies in today's extremely challenging global economy.
Praise for Red Capitalism
"The most important financial book of the year."
― James Grant, Editor, Grant's Interest Rate Observer
"Red Capitalism peels back the faÇade of China's economy and reveals how the dominant role of the state has led to enormous financial leverage and endemic malinvestment. China's major role in the global economy makes Red Capitalism required reading for any financial industry fiduciary."
― Mark L. Hart III, Chairman, Corriente Advisors, L.L.C.
"Walter and Howie possess a rare depth of experience in the analysis of the Chinese financial sector. Their hard-hitting conclusions, based on a wealth of empirical research, will stimulate debate about the future of the Chinese financial system at a critical point in its evolution."
― Peter Nolan, Sinyi Professor of Chinese Management, Cambridge Judge Business School, University of Cambridge
"A penetrating analysis that demonstrates how hard it is to follow the old adage 'follow the money,' and how rewarding it is to understand what will really drive China into the future."
― Christian Murck, President, American Chamber of Commerce in China
"Walter and Howie put the Chinese financial system under the microscope to examine how an absence of leadership, institutional squabbling, and complacency have seen appetites for reform splutter out, replaced by stagnation and dysfunction. Theirs is a fascinating, entertaining, and necessary corrective to the hyperbole surrounding China's seemingly miraculous rise."
― David Wilder, Beijing Bureau Chief, Market News International
"Red Capitalism is a superb guide to China'sfinancial labyrinth. It's a must-read for anyone who wants to understand the sources of Chinese economic power, and the threat posed by the nation's vast hidden debts."