Cadres, gangs and prophets: the commodity futures markets of China

In China's market reforms, the emergence of commodity futures markets marked the way in which the country took up more sophisticated components of capitalist markets. Based on seven months of ethnographic fieldwork in 2005, this thesis is the first ethnography conducted in the commodity futures markets of China. It provides field records of the relationship between state structures, quasi-public organisations and the private sector in a post-Communist market. It shows how social groups align to form capital factions, and how these factions attempt to calculate the actions of each other. It also provides an account of how knowledge is circulated, and how reputation, authority and expertise are developed within the markets. The author argues that the notion of"performativity" can be applied to the case of Chinese futures markets. The consensus held by market actors and their subsequent actions are a major contribution to market reality. In the context of Chinese markets. political power plays a particularly crucial role-it links up a politicized feedback loop between perception, action and reality. The thesis applies the concept of technology transfer to assess whether futures markets have an inherent "script" that unfolds and is implemented under different social, cultural and political contexts. Relaxing assumptions held by neoclassical economists (such as individualized rationality), the author believes that the feedback loop of knowledge, action and reality is th e "vanilla core" of markets. One of the key factors in success in market construction is the successful implementation of s.uch feedback loops

China: New Engine of World Growth

Twenty-five years of reform have transformed China from a centrally planned and closed system to a predominantly market-driven and open economy. As a consequence, China is emerging as the new powerhouse for the world economy. China: new engine for world growth discusses the impact and significance of this transformation. It points out risks to the growth process and unfinished tasks of reform. It presents conclusions from recent research on growth, trade and investment, the financial sector, income and regional disparities, industrial location and private sector development. Ross Garnaut is a Professor of Economics in the Research School of Pacific and Asian Studies, and Chairman of the China Economy and Business Program at The Australian National University. He was Australia’s Ambassador to China in the 1980s. Ligang Song is a Fellow in the Asia Pacific School of Economics and Government, and Director of the China Economy and Business Program at The Australian National University

Stínové bankovnictví, finanční rizika a regulace v Číně

Import 22/07/2015Abstract: The thesis is devoted to the analysis of the shadow banking, financial risk and regulation in China. The objective of the thesis is to identify both the positive effect of the shadow banking and more importantly the potential risks of this activity. The results will help the investor and the authority to understand the Chinese shadow banking problem comprehensively and systematically. And the possible solutions we have suggested to enhance the regulation and reduce the risk can somehow help the investor to make the decision. We have use the comparison method and qualitative method which we have investing the case of shadow banking in Chinese economy. We can conclude that the shadow banking on the one side can act as a complement to the traditional banking system; shadow banks play an active role in serving the real economy and enriching investment channels for ordinary citizens. On the other side, it has been argued that shadow banking is not properly regulated, and its size and rapid growth does raise debt levels and make credit flows less transparent and more risky. We suggest the tightening of the regulation imposed on WMPs management and increase the collaboration between banks and trust companies. And it could be a possible solution to implement the stress tests on banks and disclose the results to the public and to reform banking regulation and interest rate liberalization.Abstract: The thesis is devoted to the analysis of the shadow banking, financial risk and regulation in China. The objective of the thesis is to identify both the positive effect of the shadow banking and more importantly the potential risks of this activity. The results will help the investor and the authority to understand the Chinese shadow banking problem comprehensively and systematically. And the possible solutions we have suggested to enhance the regulation and reduce the risk can somehow help the investor to make the decision. We have use the comparison method and qualitative method which we have investing the case of shadow banking in Chinese economy. We can conclude that the shadow banking on the one side can act as a complement to the traditional banking system; shadow banks play an active role in serving the real economy and enriching investment channels for ordinary citizens. On the other side, it has been argued that shadow banking is not properly regulated, and its size and rapid growth does raise debt levels and make credit flows less transparent and more risky. We suggest the tightening of the regulation imposed on WMPs management and increase the collaboration between banks and trust companies. And it could be a possible solution to implement the stress tests on banks and disclose the results to the public and to reform banking regulation and interest rate liberalization.154 - Katedra financívýborn