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The contemporary Chinese financial system encapsulates two possible futures for China's economy. On the one hand, extremely rapid financial deepening accompanied by relatively stable prices are both manifestations of a vigorous growth trajectory that will one day make China the world's largest economy. On the other hand, the colossal store of non-performing loans in the banking sector augurs a troubling future. Factions and Finance in China inquires how elite factional politics has given rise to both of these outcomes since the reform in 1978. The competition between generalists in the Chinese Communist Party and politically engaged technocrats over monetary policies has time and time again prevented inflation from spinning out of control. Shih shows that elite politics has exerted a profound impact on monetary policies and banking institutions in contemporary China.

Banks and banking --- Finance --- Monetary policy --- Government policy --- China --- Politics and government. --- S10/0420 --- S10/0320 --- China: Economics, industry and commerce--Public finance and taxation: since 1949 --- China: Economics, industry and commerce--Money and banking: since 1949 --- Funding --- Funds --- Economics --- Currency question --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Financial institutions --- Money --- Social Sciences --- Political Science

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Economic policy and planning (general) --- China --- S10/0240 --- S10/0320 --- S10/0420 --- S10/0430 --- 338.22 --- #SML: Joseph Spae --- finances --- commerce --- chine --- China: Economics, industry and commerce--General works and economic history: since 1949 --- China: Economics, industry and commerce--Money and banking: since 1949 --- China: Economics, industry and commerce--Public finance and taxation: since 1949 --- China: Economics, industry and commerce--Investment --- Economische organisatieleer. Economisch beleid. Economische politiek --- financien --- handel --- china --- 338.22 Economische organisatieleer. Economisch beleid. Economische politiek

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Many of the world's major economies boast dominant international currencies. Not so for China. Its renminbi has lagged far behind the pound, the euro, and the dollar in global circulation-and for good reason. China has long privileged economic policies that have fueled development at the expense of the renminbi's growth, and it has become clear that the underpowered currency is threatening China's future. The nation's leaders now face the daunting task of strengthening the currency without losing control of the nation's economy or risking total collapse. How are they approaching this challenge?In The People's Money, Paola Subacchi introduces readers to China's monetary system, mapping its evolution over the past century and, particularly, its transformation since Deng Xiaoping took power in 1978. Subacchi revisits the policies that fostered the country's economic rise while at the same time purposefully creating a currency of little use beyond China's borders. She shows the key to understanding China's economic predicament lies in past and future strategies for the renminbi. The financial turbulence following the global crisis of 2008, coupled with China's ambitions as a global creditor and chief economic power, has forced the nation to reckon with the limited international circulation of the renminbi. Increasing the currency's reach will play a major role in securing China's future.

Foreign exchange --- Renminbi. --- Finance --- Monetary policy --- CNY (Money) --- Ren min bi --- RMB (Money) --- Yuan (Money) --- Money --- Cambistry --- Currency exchange --- Exchange, Foreign --- Foreign currency --- Foreign exchange problem --- Foreign money --- Forex --- FX (Finance) --- International exchange --- International finance --- Currency crises --- China --- Commerce. --- Renminbi --- E-books --- S10/0320 --- S10/0420 --- S10/0470 --- China: Economics, industry and commerce--Money and banking: since 1949 --- China: Economics, industry and commerce--Public finance and taxation: since 1949 --- China: Economics, industry and commerce--Commerce inside China: since 1949

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S10/0251 --- S10/0320 --- S10/0420 --- S10/0470 --- S10/0590 --- China: Economics, industry and commerce--General works and economic history: since 1989 --- China: Economics, industry and commerce--Money and banking: since 1949 --- China: Economics, industry and commerce--Public finance and taxation: since 1949 --- China: Economics, industry and commerce--Commerce inside China: since 1949 --- China: Economics, industry and commerce--Distribution --- #A9404E --- China --- Economic conditions --- Economic policy --- Economic conditions. Economic development

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"The official banking institutions for rural China are Rural Credit Cooperatives (RCCs). Although these co-ops are mandated to support agricultural development among farm households, since 1980 half of RCC loans have gone to small and medium-sized industrial enterprises located in, and managed by, townships and villages. These township and village enterprises have experienced highly uneven levels of success, and by the end of the 1990s, half of all RCC loans were in or close to default, forcing China's central bank to bail out RCCs. In Prosper or Perish, Lynette H. Ong examines the bias in RCC lending patterns, focusing on why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others"--Publisher's Web site.

Banks and banking, Cooperative --- Central-local government relations --- Local finance --- Rural credit --- Rural development --- S06/0225 --- S10/0320 --- S10/0420 --- S20/0260 --- Credit --- Cooperative banks --- Credit cooperatives --- People's banks --- Banks and banking --- Cooperative societies --- China: Politics and government--People's Republic: local and provincial government: since 1976 --- China: Economics, industry and commerce--Money and banking: since 1949 --- China: Economics, industry and commerce--Public finance and taxation: since 1949 --- China: Agriculture forestry, fishery, natural disasters--Peasant economy