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

Englisch

9781118176368

John Wiley & Sons

Henry Sanderson, Michael Forsythe

224

Gebundene Ausgabe

Preface ix Acknowledgments xix Chapter 1 Let 10,000 Projects Bloom 1 The Wuhu Model 4 The Chongqing Model 9 Global Financial Crisis 12 A Town Called Loudi 15 Li's Story 18 "Manhattan" in China 22 Credit Risk in a One-Party State 26 Cracks in the System 29 Chapter 2 Turning a Zombie Bank into a Global Bank 39 A Life in the Party 41 The Princeling Party: The Beginning of State Capitalism 50 Taking Over a Basket Case 55 Transforming CDB from an ATM Machine 58 Developing a Slogan 62 Beating the Commercial Banks 64 Gao Jian: Creating a Market for "Risk-Free" Bonds 68 The West Self-Destructs: The Financial Crisis 72 Moving Beyond Wall Street 75 Chapter 3 Nothing to Lose but Our Chains: China Development Bank in Africa 85 Made in Ethiopia 90 Ethiopia's Zone: Exporting to the West 94 China-Africa Development Fund: The State's Private Equity Arm 96 Rising Role of China in Africa 101 Fixed Capital: Western-Style Lending 105 African Tiger: Can Ghana Escape the Resource Curse? 108 Fresh Capital 116 Chapter 4 Risk versus Reward: China Development Bank in Venezuela 123 Default in Bolívar's Country 125 China's Venezuelan Adventure 126 Loans for Oil 132 Cars, Housing, and Gold: Good Business for China 136 Ecuador 139 Russia 140 China in the Backyard of the United States 141 Chapter 5 Funding the New Economy 147 Obama's Dream 151 Default-Free Bond Market 153 Financing China's Global Company: Huawei 157 The Final Frontier: Private Equity 163 Acting as a Gatekeeper 167 Imprint of the State 169 Chapter 6 The Future 175 About the Authors 181 Index 183

236 mm

16.3 cm