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- DescriptionInside the engine-room of China's ecomic growth the China Development Bank Anyone wanting a primer on the secret of China's ecomic success need look further than China Development Bank (CDB) which has displaced the World Bank as the world's biggest development bank, lending billions to countries around the globe to further Chinese policy goals. In China s Superbank, Bloomberg authors Michael Forsythe and Henry Sanderson outline how the bank is at the center of China's domestic ecomic growth and how it is helping to expand China's influence in strategically important overseas markets. 100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of China's state-led ecomic development model, and its most glaring flaws. The bank is at the center of the country's efforts to build a world-class network of highways, railroads, and power grids, pioneering a lending scheme to local governments that threatens to spawn trillions of yuan in bad loans. It is doling out credit lines by the billions to Chinese solar and wind power makers, threatening to bury global competitors with a flood of cheap products. Ather $45 billion in credit has been given to the country's two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of China's leaders for its leading companies to go global. Bringing the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans, China s Superbank travels the globe, from Africa, where its China-Africa fund is displacing Western lenders in a battle for influence, to the oil fields of Venezuela. * Offers a fascinating insight into the China Development Bank (CDB), the driver of China's rapid ecomic development * Travels the globe to show how the CDB is helping Chinese businesses go global * Written by two respected reporters at Bloomberg News As China's influence continues to grow around the world, many people are asking how far it will extend. China s Superbank addresses these vital questions, looking at the institution at the heart of this growth.
- Author BiographyHENRY SANDERSON has been a reporter for Bloomberg News since April 2010. Prior to that, he was a reporter for the Associated Press in Beijing and Dow Jones in New York. While at Bloomberg, Sanderson has covered corporate finance, focusing on China's banks, the bond market, and the emergence of the yuan as an international currency. He is a graduate of the University of Leeds (with a BA in Chinese and English literature) and Columbia University (with a Master's in East Asian Studies). MICHAEL FORSYTHE has been a reporter and editor for Bloomberg News since 2000. Prior to that, he was an officer in the U.S. Navy for seven years, serving on ships in the U.S. 7th Fleet. The highlight of his career in Washington was overseeing Bloomberg's coverage of the historic 2008 presidential election. Since returning to Beijing in 2009, Forsythe has focused on policy and politics, with particular emphasis on the international impact of China Inc. He is a graduate of Georgetown University (with a BA in International Economics) and Harvard University (with a Master's in East Asian Regional Studies).
- Author(s)Henry Sanderson,Michael Forsythe
- PublisherJohn Wiley & Sons Inc
- Date of Publication04/01/2013
- SubjectFinance & Accounting
- Series TitleBloomberg
- Place of PublicationNew York
- Country of PublicationUnited States
- ImprintJohn Wiley & Sons Inc
- Content Noteillustrations
- Weight562 g
- Width161 mm
- Height237 mm
- Spine21 mm
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