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China’s Financial System

Dominique De Rambures & Felipe Escobar Duenas
Release date:March 2017
Language:English
Pages:195
ISBN:3319404504
Publisher:Springer International Publishing Ag
Price:€ 125,00

This book examines the volatile landscape of the Chinese economy and the barriers to its continuing development. The author argues that underlying inefficiencies in China’s financial system currently prevent the further growth of its institutions and inhibit reform of monetary and fiscal policy. Rambures shows that, despite efforts to avoid a “middle income trap”, such long-overdue structural reforms are still faced with strong resistance from both economic and political circles. Chapters discuss approaches in tackling the Chinese national debt, the recent stock exchange collapse and subsequent currency devaluation, declining trade surplus, the wariness of foreign investors and its negative impact on foreign exchange reserves, and the heavy burden of state-owned “zombie companies”. The discussion positions current economic events within the context of China’s transition from a foreign trade and investment-led economy to one that is propelled by domestic consumption, service industries and innovation. Crucially, Rambures also addresses financial trends with reference to pervasive long-term influencing factors such as an ageing population, increasing inequality, corruption, pollution and migration.

Dominique De Rambures

Dominique De Rambures, Master Banque Finance, University Panthéon Sorbonne, Paris France.

Felipe Escobar Duenas

Felipe Escobar Duenas, Master Banque Finance, University Panthéon Sorbonne, Paris France.