Abstract
This chapter focuses on China’s 4 trillion yuan fiscal stimulus in 2008 and the effect on the Shadow Banking market. It describes the American mortgage crisis and the impact on the Chinese leadership’s analysis of its impact on the Chinese economy, China’s launch of a domestic stimulus package to avoid a downturn related to the mortgage crisis, and the unintended consequences of the stimulus package and relationship to local government financing. A brief discussion of the role of the banks in funding state and private enterprise in China is introduced.
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Collier, A. (2017). China’s Great Financial Push. In: Shadow Banking and the Rise of Capitalism in China. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-10-2996-7_3
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DOI: https://doi.org/10.1007/978-981-10-2996-7_3
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Publisher Name: Palgrave Macmillan, Singapore
Print ISBN: 978-981-10-2995-0
Online ISBN: 978-981-10-2996-7
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