| Synopsis: |
This book argues that, contrary to the widely-held view that the Chinese economy was insulated from international capital flows, and thereby from the 1998 Asian financial crisis, the Chinese economy (especially the financial system of the Guangdong province adjacent to Hong Kong) was deeply enmeshed in the international system, and that the Chinese government succeeded in containing the crisis with difficulty. Besides showing how the crisis was contained, the book sheds a great deal of light on China's emerging financial institutions, which, the author alleges, were in 1998 'pervaded by corruption and criminality at every level'. |