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Western Bankers in China

Western Bankers in China PDF Author: Jane Nolan
Publisher: Routledge
ISBN: 0429819528
Category : Social Science
Languages : en
Pages : 166

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Book Description
When China’s economic reforms were beginning, there was an expectation in the west that China’s financial markets would be opened to western banks and that China’s banks would be reformed along western lines. Joint ventures between Chinese banks and western banks, minority shareholding by western banks and the involvement of western banking personnel in assisting Chinese banks with their reforms were all seen as moves towards reform along western lines. This book analyses the role which western bankers have played in China’s economic reforms, focusing on their influence on institutional change and corporate governance. Based on extensive original research, the book shows that while components of western models of corporate governance have been widely adopted, the motivation for these changes seems to have been legitimacy-seeking by Chinese banks, and that whilst there has been relatively rapid change in the formal legislative environment, informal organisational practices are changing at a much slower pace. Alliances between Chinese and western banks are woven with contradictions and power games and so many actors in the Chinese banking sector seek to resist manipulation by their western counterparts. The financial crisis weakened the idea that western banks are a universally correct model and strengthened China’s resolve to keep control of its banking sector and manage it along Chinese lines.

Western Bankers in China

Western Bankers in China PDF Author: Jane Nolan
Publisher: Routledge
ISBN: 0429819528
Category : Social Science
Languages : en
Pages : 166

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Book Description
When China’s economic reforms were beginning, there was an expectation in the west that China’s financial markets would be opened to western banks and that China’s banks would be reformed along western lines. Joint ventures between Chinese banks and western banks, minority shareholding by western banks and the involvement of western banking personnel in assisting Chinese banks with their reforms were all seen as moves towards reform along western lines. This book analyses the role which western bankers have played in China’s economic reforms, focusing on their influence on institutional change and corporate governance. Based on extensive original research, the book shows that while components of western models of corporate governance have been widely adopted, the motivation for these changes seems to have been legitimacy-seeking by Chinese banks, and that whilst there has been relatively rapid change in the formal legislative environment, informal organisational practices are changing at a much slower pace. Alliances between Chinese and western banks are woven with contradictions and power games and so many actors in the Chinese banking sector seek to resist manipulation by their western counterparts. The financial crisis weakened the idea that western banks are a universally correct model and strengthened China’s resolve to keep control of its banking sector and manage it along Chinese lines.

Western Bankers in China

Western Bankers in China PDF Author: Jane Nolan
Publisher: Routledge Contemporary China Series
ISBN: 9780415584647
Category : Social Science
Languages : en
Pages : 152

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Book Description
The opening of China's financial market to western banks was seen as a key plank of the economic reform programme. Despite the recent banking crisis and the idea that Chinese banks might supplant western banks in the global financial system, Chinese banks continue to suffer from fundamental problems including a shallow talent pool, a shortage of technical expertise, and weak corporate governance mechanisms. This book analyses the role which western bankers have played in China's economic reforms, focusing on their influence on institutional change and corporate governance. Based on extensive original research, the book shows that while components of western models of corporate governance have been widely adopted, the over-riding perception is that the motivation for these changes is legitimacy-seeking by Chinese banks, and that whilst there has been relatively rapid change in the formal legislative environment, the informal normative and cultural-cognitive realms are changing at a much slower pace.

China's Banking Transformation

China's Banking Transformation PDF Author: James Stent
Publisher: Oxford University Press
ISBN: 019049705X
Category : Business & Economics
Languages : en
Pages : 272

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Book Description
In this timely and provocative book, James Stent, a banker with decades of experience in Asian banking and fluency in Chinese language, explains how Chinese banks work, analyzes their strengths and weaknesses, and sets forth the challenges they face in a slowing economy. Without minimizing the real issues Chinese banks face, China's Banking Transformation challenges negative media accounts and reports of "China bears". Based on his 13 years of service on the boards of China Minsheng Bank, a privately owned listed bank, and China Everbright Bank, a state-controlled listed bank, the author brings the informed view of an insider to the reality of Chinese banking. China's Banking Transformation demonstrates that Chinese banks have transformed into modern, well-run commercial banks, playing a vital role supporting China's extraordinary economic growth. Acknowledging that China's banks are different from Western banks, the author explains that they are hybrid banks, borrowing extensively from Western models, but at the same time operating within a traditional Chinese cultural framework and in line with China's governance model. From his personal experience working at board level, Stent describes the governance and management of China's banks, including the role of the Communist Party. He sees China's banks as embedded in ancient concepts of how government and society work in China, and also as actors within a market socialist political economy. The Chinese banking system today bears similarities with banking in Northeast Asian "developmental states" of recent past, and also pre-1949 Chinese banking. As the first account of Chinese banking by a Westerner who has worked in China's banks, China's Banking Transformation should be read by anyone interested in the political economy of contemporary China, in Asian development issues, and in banking issues generally. The book dispels misconceptions and provides insight into the financial aspects of China's economic growth story.

Finance and Society in 21st Century China

Finance and Society in 21st Century China PDF Author: Junie T. Tong
Publisher: Gower Publishing, Ltd.
ISBN: 9781409401292
Category : Business & Economics
Languages : en
Pages : 246

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Book Description
Finance and Society in 21st Century China considers how far the modern economy is disconnected from Chinese culture and history, and questions the common assumption that China has outgrown its reliance on its Western counterparts. Junie Tong applies the work of Belgian economist, banker and social commentator Bernard Lietaer in a specifically Chinese context, highlighting the need to root finance and enterprise in the rhythms and forces within Chinese culture to avoid future chaos and achieve socioeconomic stability in a country now so critical to global well-being.

Guanxi in Contemporary Chinese Business

Guanxi in Contemporary Chinese Business PDF Author: Jane Nolan
Publisher: Routledge
ISBN: 1000296482
Category : Business & Economics
Languages : en
Pages : 161

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Book Description
Does guanxi still matter in 21st century Chinese business and management? Is it really still a culturally distinct form of social interaction, impenetrable by outsiders? Or does it simply resemble the countless other elite networks embedded in business and political spheres across the globe? This book answers these questions through a combination of new empirical insight and nuanced conceptual development. Research examples include investigations of multinational enterprise corporate performance, governance structures in Chinese private firms, organisational justice in Chinese banks, entrepreneurial learning and knowledge acquisition, and the gendered and sexualized nature of guanxi in the workplace. In terms of firm performance, there is still much to be gained by MNE and Chinese firms through cultivating guanxi in different domains, including the political sphere at both the local and national level. However, in terms of employee performance, there is evidence that some younger employees have a strong desire to move towards more merit-based systems and resent being judged on guanxi connections. Similarly, some women may find themselves shut out when attempting to navigate conventional guanxi relationships based on Confucian paternalism. In brief, these practices may also exclude a large pool of emerging talent. This book clearly shows that guanxi is a complex concept that holds a persistent power in Chinese societies. To understand it fully we must acknowledge the dynamic nature of both its dark and light sides. The chapters in this book were originally published in a special issue of the Asia Pacific Business Review.

Foreign Banks and Global Finance in Modern China

Foreign Banks and Global Finance in Modern China PDF Author: Ghassan Moazzin
Publisher: Cambridge University Press
ISBN: 100903698X
Category : Business & Economics
Languages : en
Pages :

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Book Description
In this wide-ranging study, Ghassan Moazzin sheds critical new light on the history of foreign banks in late 19th and early 20th century China, a time period that saw a substantial influx of foreign financial institutions into China and a rapid increase of both China's foreign trade and its interactions with international capital markets. Drawing on a broad range of German, English, Japanese and Chinese primary sources, including business records, government documents and personal papers, Moazzin reconstructs how during this period foreign banks facilitated China's financial integration into the first global economy and provided the financial infrastructure required for modern economic globalization in China. Foreign Banks and Global Finance in Modern China shows the key role international finance and foreign banks and capital markets played at important turning points in modern Chinese history.

China and the West

China and the West PDF Author: Peter Nolan
Publisher: Routledge
ISBN: 0429840438
Category : Social Science
Languages : en
Pages : 268

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Book Description
Capitalist globalisation since the 1980s has produced immense benefits in terms of technical progress, poverty reduction and welfare improvement. However, it has been accompanied by profound contradictions, including ecological destruction, global warming, inequality, concentration of business power, and financial instability. Regulation of global political economy in the interests of the majority of the world’s population is essential if the human species is to avoid a Darwinian catastrophe. This book explores China’s rich history of regulating the market in the interests of the mass of the population. For over two thousand years the Chinese bureaucracy has sought pragmatically to find a Way in which to integrate the ‘invisible hand’ of market forces with the ‘visible hand’ of ethically guided government regulation. Instead of seeking confrontation with China, citizens and politicians in the West need to deepen their understanding of the contribution that China can make to globally sustainable development in the decades and centuries ahead.

Guanxi, How China Works

Guanxi, How China Works PDF Author: Yanjie Bian
Publisher: John Wiley & Sons
ISBN: 1509500421
Category : Business & Economics
Languages : en
Pages : 200

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Book Description
How do social relations, or guanxi, matter in China today and how can this distinctive form of personal connection be better understood? In Guanxi: How China Works, Yanjie Bian analyzes the forms, dynamics, and impacts of guanxi relations in reform-era China, and shows them to be a crucial part of the puzzle of how Chinese society operates. Rich in original studies and insightful analyses, this concise book offers a critical synthesis of guanxi research, including its empirical controversies and theoretical debates. Bian skillfully illustrates the growing importance of guanxi in diverse areas such as personal network building, employment and labor markets, informal business relationships, and the broader political sphere, highlighting guanxi’s central value in China's contemporary social structure. A definitive statement on the topic from a top authority on the sociology of guanxi, this book is an excellent classroom introduction for courses on China, a useful reference for guanxi researchers, and ideal reading for anyone interested in Chinese culture and society.

The Evolution of China's Banking System, 1993–2017

The Evolution of China's Banking System, 1993–2017 PDF Author: Guy Williams
Publisher: Routledge
ISBN: 1351020005
Category : Social Science
Languages : en
Pages : 176

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Book Description
This book traces the development of China’s banking system through the first 25 years of China’s socialist market economy up to the present. It examines how China’s leaders have chosen their own path for reforming and regulating the banking sector and shows how this approach has differed significantly from the neoliberal approach promoted by the West. The book demonstrates the effectiveness of the Chinese approach, contrasting China’s relative success in weathering the Asian financial crisis with the huge disruption experienced by other East and Southeast Asian nations which had followed the neoliberal model much more closely. The book explains how China’s officials were able to resist the persistent efforts of foreign financial institutions to gain control of China’s financial sector, particularly around the time of China’s entry to the World Trade Organization. It argues that China’s increasing influence in international financial institutions after the global financial crisis can help mitigate the risk of future financial crises and promote global financial stability.

A History of Modern China in View of Silver and Foreign Exchange

A History of Modern China in View of Silver and Foreign Exchange PDF Author: Fugan Dou
Publisher: Createspace Independent Publishing Platform
ISBN: 9781523701643
Category :
Languages : zh-CN
Pages : 204

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Book Description
In Chinese modern history, there is a mystery which rarely has been fully answered. That is how China balanced its international payments. Due to China's huge trade deficit plus its enormous foreign debts and indemnifications, China needs to pay out about 4.4 billion Silver Taels during 1900-1930 by some analyst. However, the consensus is China only had 2 billion Silver Taels worth of silver bullion plus 1 billion Silver Taels of foreign debts at that time, which means even if China had paid out all she had, leaving the whole country short of silver bullion, there would be still 1.4 billion unsettled. The surprising truth was China had never lost its silver bullion before 1930's, on the contrary, China gained lots of silver bullion during the time she ought to pay up her huge deficit. So, naturally it comes out the question of how China managed to accomplish that. This book established a hypothesis which attributes such achievement to the western banking system operating in Shanghai under the leadership of HSBC, with an assistance of U.S.A. and Japan. It discarded the traditional explanation that it was Chinese oversea remittance helps China balanced its payments, and assumed it was HSBC who balanced Chinese payments account using it excellent financial techniques and its unique position in terms of foreign exchange. Also, the book discussed a major Japanese influence on this issue apart from the important leading role of British people. At the final chapter, the book revealed how this delicate, sophisticated western banking system had collapsed due to the rapid uprising of Chinese nationalism, and how did the euphoria of Chinese nationalism interrupt the process of modernization and involve China into a stupid, meaningless war with Japanese. When the war was over, China found herself suddenly in a red sea of communism which opened a horrible episode in Chinese modern history.