Financial Restructuring and Reform in Post-WTO China

Author: James R. Barth

Publisher: N.A

ISBN: N.A

Category: Business & Economics

Page: 385

View: 4823

This book addresses the on-going process of financial restructuring and reform in post-WTO China from a legal perspective. Chapter 1 provides an overview of the impact of the WTO on China's financial markets and financial law systems. Chapter 2 discusses reform of banking law and regulation in post-WTO China. Chapter 3 addresses the role of the central bank in China's financial system, focusing on issues of independence and accountability of the People's Banking of China (PBOC), China's central bank. Chapter 4 analyses China's compliance with WTO obligations in the area of banking. Chapter 5 discusses the role of asset management companies (AMCs) in China's on-going banking restructuring and liberalization. Chapter 6 analyses the development of securities markets in China, the challenges being faced and the impact of the WTO. Chapter 7 describes insurance and its development in China, focusing on the role of the WTO in liberalization. A new topic in China, i.e., financial conglomerates, is discussed in chapter 8, building upon the discussions in the previous chapters. Chapter 9 in turn studies the issue of financial institution insolvency and restructuring as noted in previous chapters, key issues in China. Chapter 10 discusses the double impact of the WTO and one of China's regional trade agreements, CEPA, on China's banking law.

China and Global Trade Governance

China's First Decade in the World Trade Organization

Author: Ka Zeng,Wei Liang

Publisher: Routledge

ISBN: 1136161821

Category: Political Science

Page: 314

View: 6454

China's historic accession to the World Trade Organization (WTO) in November 2001 not only represents an important milestone in the country’s transition to a market economy and integration into the global economy, but is also among the most important events in the history of the WTO and the multilateral trading system. China and Global Trade Governance: China's First Decade in the World Trade Organization provides us with some fresh empirical data to assess the country’s behaviour in the liberal international economic regime. Such an assessment is both timely and necessary as it can help us better understand China’s role in the evolving structure of global economic governance, in addition to shedding light on the broader debate about the implications of the rise of China for the international system. Through a thorough examination of China’s WTO compliance record and its experience in multilateral trade negotiations, this book seeks to better understand the sources of constraints on China’s behaviour in the multilateral trade institution as well as the country’s influence on the efficacy of the World Trade Organization. In doing so, this project speaks directly to the following questions raised by China’s unprecedented ascent in the international system: Is China a rule maker, rule follower, or rule breaker in international regimes? Is Beijing a responsible stakeholder capable of making positive contributions to global trade governance in the long-term?

China's Emerging Financial Markets

Challenges and Opportunities

Author: James R. Barth,John A. Tatom,Glenn Yago

Publisher: Springer Science & Business Media

ISBN: 9780387937694

Category: Business & Economics

Page: 658

View: 2382

China’s emerging financial markets reflect the usual contrast between the country’s measured approach toward policy, regulatory, and market reform, and the dynamic pace of rapid economic growth and development. But they also offer unusual challenges and opportunities. In the past five years, the pace of opening and reform has accelerated sharply. Recapitalization and partial privatization of the largest banks, and the allowance of some joint venture and branch operations for foreign financial institutions, are making rapid headway in developing and expanding financial services and improving access to domestic business and households. This book provides the most extensive look available at the evolving Chinese financial system. It begins with alternative perspectives on the evolution of the financial system and the broad outlines of its prospects and potential contribution to economic growth. Three articles review broad aspects of the financial system. Franklin Allen, Jun ‘‘QJ’’ Qian, Meijun Qian, and Mengxin Zhao lead off with overviews of the banking system and performance of the equity market and other institutions.

China Law Deskbook

A Legal Guide for Foreign-invested Enterprises

Author: N.A

Publisher: American Bar Association

ISBN: 9781616327897

Category: Business enterprises, Foreign

Page: 1142

View: 7570


Lessons from the Financial Crisis

Causes, Consequences, and Our Economic Future

Author: Robert W. Kolb

Publisher: John Wiley & Sons

ISBN: 9780470622414

Category: Business & Economics

Page: 667

View: 1312

The world's best financial minds help us understand today's financial crisis With so much information saturating the market for the everyday investor, trying to understand why the economic crisis happened and what needs to be done to fix it can be daunting. There is a real need, and demand, from both investors and the financial community to obtain answers as to what really happened and why. Lessons from the Financial Crisis brings together the leading minds in the worlds of finance and academia to dissect the crisis. Divided into three comprehensive sections-The Subprime Crisis; The Global Financial Crisis; and Law, Regulation, the Financial Crisis, and The Future-this book puts the events that have transpired in perspective, and offers valuable insights into what we must do to avoid future missteps. Each section is comprised of chapters written by experienced contributors, each with his or her own point of view, research, and conclusions Examines the market collapse in detail and explores safeguards to stop future crises Encompasses the most up-to-date analysis from today's leading financial minds We currently face a serious economic crisis, but in understanding it, we can overcome the challenges it presents. This well-rounded resource offers the best chance to get through the current situation and learn from our mistakes.

The Chinese Economy after WTO Accession

Author: Shuanglin Lin

Publisher: Routledge

ISBN: 1317038533

Category: Business & Economics

Page: 374

View: 8825

This book provides an analysis of the Chinese economy in the context of globalization after China's admission to the WTO. In four parts it addresses globalization, privatization, fiscal policy and financial development. In depth analysis is also given to international trade, industrial development as well as economic performance and the labour market. The Chinese Economy after WTO Accession is a comprehensive study supported by recent data and quantitative analysis. It provides a solid basis for better understanding the possible future directions of China's economy. This volume is an indispensable source for scholars and students alike.

Fixing the Housing Market

Financial Innovations for the Future

Author: Franklin Allen,James R. Barth,Glenn Yago

Publisher: Pearson Prentice Hall

ISBN: 0137011601

Category: Business & Economics

Page: 195

View: 9204

Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.

China and the WTO

Accession, Policy Reform, and Poverty Reduction Strategies

Author: Deepak Bhattasali,Shantong Li,William J. Martin

Publisher: World Bank Publications

ISBN: 9780821383711

Category: Business & Economics

Page: 348

View: 8388

China's accession to the WTO requires a great many specific policy reforms. However, if the best results are to be obtained, it is important that these reforms be implemented as part of a consistent development program, rather than simply by treating them as a recipe. To do this, policy makers must understand the range and nature of the policy changes required by accession, their implications for the economy, and the availability and effects of supporting policies. 'China and the WTO' analyzes the nature of the reforms involved in China's accession to the WTO, assesses their implications for the world economy, and examines the implications for individual households, particularly the poor. Its key objective is to provide the information that will allow policy makers to implement WTO commitments and formulate supporting policies to contribute strongly to economic development and poverty reduction. Individual chapters by leading scholars analyze the nature of the reforms in key areas, such as agriculture, services, intellectual property and safeguards and anti-dumping. These chapters form the building blocks for later chapters which analyze the implications of reform for the economy. The book also includes a series of studies that assess the implications for households, taking into account the social safety net policies applying in China, and the impacts of complementary policies in areas such as labor market reform and investments in human capital. Of interest to policymakers, academe and students studying international trade issues and to practitioners in the area of trade and development, 'China and the WTO' is a valuable addition to the wealth of information provided by the World Bank Trade and Development Series.

How Finance Is Shaping the Economies of China, Japan, and Korea

Author: Yung Chul Park,Hugh Patrick

Publisher: Columbia University Press

ISBN: 0231536461

Category: Business & Economics

Page: 376

View: 1987

This volume connects the evolving modern financial systems of China, Japan, and Korea to the development and growth of their economies through the first decade of the twenty-first century. It also identifies the commonalities among all three systems while accounting for their social, political, and institutional differences. Essays consider the reforms of the Chinese economy since 1978, the underwhelming performance of the Japanese economy since about 1990, and the growth of the Korean economy over the past three decades. These economies engaged in rapid catch-up growth processes and share similar economic structures. Yet while domestic forces have driven each country's financial trajectory, international short-term financial flows have presented opportunities and challenges for them all. The nature and role of the financial system in generating real economic growth, though nuanced and complex, is integral to these countries. The result is a fascinating spectrum of experiences with powerful takeaways.

The Politics of China's Accession to the World Trade Organization

The Dragon Goes Global

Author: Hui Feng

Publisher: Routledge

ISBN: 1134203527

Category: Political Science

Page: 216

View: 3654

Grounded on a series of first-hand interviews with Chinese government officials, this book examines China’s accession to the World Trade Organization, providing an ‘inside’ look at Chinese WTO accession negotiations. Presenting a systematic political economy model in analyzing Beijing’s decision-making mechanisms, the book argues that China’s WTO policy making is a state-led, leadership driven, and top-down process. Feng explores how China’s determined political elite partly bypassed and partly restructured a largely reluctant and resistant bureaucracy, under constant pressure from an increasingly globalized international system. By addressing China’s accession to the WTO from a political analysis perspective, the book provides a theoretically informed and intriguing examination of China’s foreign economic policy making regime. The book highlights contemporary debates relating to state and institutionalist theory and provides new and useful insights into a significant development of this century.

Economic Reforms in India and China

Author: Dr. R.K. Mishra,Prof. Zhou Shaopeng

Publisher: Allied Publishers

ISBN: 8184246838

Category: Political Science

Page: 288

View: 5672

This book incorporates select papers presented at the two day seminar titles Economic Reforms in India and China. The China National School of Administration (CNSA) and Institute of Public Enterprise (IPE) jointly organized the two day seminar. The Chinese papers dealt with prospects of economic development, development approach similarity between China and India, economic growth and policy, industrialization dilemma and civilization model innovation under resource, etc. The Indian papers dealt with economic reforms in agriculture, second generation reforms, performance of public enterprises, political economy in state enterprises, financial sector reforms, social sector reforms, etc. These papers have been authored by renowned policy makers, researchers and practitioners from India and China.|

China's Economic Reform

An Experiment in Pragmatic Socialism

Author: Raphael Shen

Publisher: Greenwood Publishing Group

ISBN: 9780275963286

Category: Business & Economics

Page: 227

View: 8444

Both Mao Zedong and Deng Xiaoping drastically altered the course of contemporary China's economic development using opposing strategies. Mao froze China's economic system in a perennial state of consumer goods shortages and pervasive macro disequilibria. Deng, however, began thawing a rigidly structured system by introducing experimental reform measures. Mao's revolutionary rhetoric brought China's economy to the brink of bankruptcy. Deng's ideological pragmatism netted China glowing successes. Mao closed China to the outside world. Deng engineered China's reintegration into the world economy. Dismantling a dysfunctional system and replacing it with a dynamic new one involving 1.2 billion people is risk-laden. Reform in China began in 1978. It was tentative and experimental, confining reform to organizational and administrative decentralization on farms. Successes on farms ushered in reform elsewhere in the economy. Over time, market-based coordinating mechanisms progressively began replacing the system's control devices. Results from decentralization internally reinforced those from liberalization externally. This consequently transformed China's stale, distorted system into a more competitive, bustling new one ready for developmental takeoff. Its meteoric rise among the world's leading markets in recent years has thrust China's economy to the forefront of growth and development. Controlled, phased reform is yielding dividends, not only for its own consumers but for international economic cooperation and growth as well.

Trade Reform in Vietnam

Opportunities with Emerging Challenges

Author: Philippe Auffret

Publisher: World Bank Publications

ISBN: N.A

Category: Vietnam

Page: 19

View: 3720

In 1986 Vietnam initiated a transition from a centrally planned economy to a market-oriented economy where the government would keep playing a leading role. These renovation (doi moi) policies were successful at generating economic growth and reducing poverty. In the ten-year socioeconomic strategy endorsed by the Ninth Party Congress in April 2001, the authorities further articulated their development objectives in terms of economic growth and poverty reduction. To reach these objectives, the government indicated that its structural reform priorities were to change Vietnam's trade and financial policies, liberalize the climate for private investment, increase the efficiency of public enterprises, and improve governance. Auffret argues that the pace of implementation of trade reform--which has been impressive so far--is raising new challenges. On one side, fast liberalization of trade reform may soon conflict with the slow pace of implementation of other reforms, including restructuring of state-owned enterprises and state-owned commercial banks. On the other side, Vietnam would greatly benefit from fast implementation of trade reform and particularly fast accession to the World Trade Organization (WTO), especially after China's recent WTO accession. Auffret concludes that implementation of trade reform will be a testing ground to reveal the extent of Vietnam's commitment to a market-oriented economy. This paper--a product of Poverty Reduction and Economic Management Sector Unit, East Asia and Pacific Region--was written as a background paper on trade for the 2002 Vietnam Development Report.

Banking Reform in the Lower Mekong Countries

Author: Mr. Olaf Unteroberdoerster

Publisher: International Monetary Fund

ISBN: 145526492X

Category: Business & Economics

Page: 26

View: 5741

This paper reviews recent banking reform efforts in the lower Mekong countries (LMCs), comprising Cambodia, the Lao People's Democratic Republic, and Vietnam. Linked by close economic and cultural ties, the three LMCs face the dual challenge of economic development and transition to market-based economies. Two-tier banking systems were formally introduced in the late 1980s. However, state-owned banks with weak balance sheets continue to dominate the banking systems of Vietnam and Lao P.D.R. Cambodia's main challenge is to reconstruct a banking system after decades of civil strife. Based on progress made and brief cross-country comparisons, the paper identifies key challenges and options for further reform.

Policy Reform and Chinese Markets

Progress and Challenges

Author: Belton M. Fleisher

Publisher: Edward Elgar Publishing

ISBN: 9781782543565

Category: Business & Economics

Page: 334

View: 5541

The diverse contributors to this book provide a unique set of essays that evaluate legal, regulatory, and economic aspects of China¿s transition from planned to market economy.

China in the World Economy

The Domestic Policy Challenges

Author: Charles A. Pigott

Publisher: Organization for Economic

ISBN: N.A

Category: Business & Economics

Page: 813

View: 7731

This work analyzes the domestic policy challenges facing China in the context of trade and investment liberalization. It provides a comprehensive view of the interrelated domestic policy issues at stake and offers specific recommendations as to actions to be taken.

China's Economic Future

Challenges to U.S. Policy

Author: Congress of the United States

Publisher: M.E. Sharpe

ISBN: 9780765601261

Category: Business & Economics

Page: 545

View: 822

This is the latest Joint Economic Committee volume on the Chinese economy. With the current state of US-China relations and Hong Kong's accession in 1997, the study should provide policy makers in the USA with a useful tool in guiding economic policy toward China.